Alexandria Real Estate announced that a top 20 pharmaceutical company and longstanding credit tenant has increased its San Diego footprint by nearly 53% with the execution of a 10-year lease for 127,382 RSF, with significant expansion options, for a new R&D center at 10075 Barnes Canyon Road on the SD Tech by Alexandria mega campus in the Sorrento Mesa submarket of San Diego. Purposefully curated to enable its tenants to attract, retain and inspire top talent, this mega campus provides an exceptional suite of bespoke amenities, which include multiple eateries, a health and wellness center, premier meeting and conference spaces, an expansive lawn and a seven-acre central park. With this strategic anchor lease, the 253,079 RSF Class A+ development, which is targeting LEED Gold Core & Shell and Fitwel certifications, is now 70% leased ahead of its anticipated initial delivery in 2025. The lease also brings Alexandria’s 1.2 million RSF pipeline of under construction mega campus development projects in San Diego to 94% leased, demonstrating the advantages of the company’s differentiated mega campus platform and leading life science industry brand.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ARE:
- Alexandria Real Estate increases quarterly dividend 3c to $1.30 per share
- Alexandria Real Estate Equities, Inc. Declares Cash Dividend of $1.30 per Common Share for 2Q24, an Increase of 3 Cents Over 1Q24, and an Aggregate of $5.08 per Common Share for the 12 Months Ending June 30, 2024, an Increase of 24 Cents, or 5 Percent, Over the 12 Months Ended June 30, 2023
- 3 Best REIT Stocks to Buy in May 2024, as per Analysts
- Alexandria Real Estate Equities’ Strategic Annual Meeting Outcomes
Questions or Comments about the article? Write to editor@tipranks.com