Alexandria Real Estate Equities
| Company type | Public company |
|---|---|
| NYSE: ARE S&P 500 Index component | |
| Industry | Real estate investment trust |
| Founded | October 1994 |
| Founder | Joel S. Marcus Jerry M. Sudarsky |
| Headquarters | Pasadena, California, U.S. |
Key people | Joel S. Marcus, Chairman Dean A. Shigenaga, CFO |
| Revenue |  $1.531 billion (2019) |
 $350 million (2019) | |
| Total assets | $18.390 billion (2019) |
| Total equity | $10.154 billion (2019) |
Number of employees | 439 (2019) |
| Website | www |
| Footnotes / references [1] | |
Alexandria Real Estate Equities, Inc. is an American real estate investment trust that invests in office buildings and laboratories leased to tenants in the life science and technology industries.[1]
The company also has a venture capital arm, Alexandria Venture Investments, which invests in life sciences firms.[2]
The company is named after Alexandria, Egypt because of that city's connection to science.[3]
Investments
As of December 31, 2019, the company owned or had investments in 290 operating properties and development projects comprising 39.2 million square feet.[1]
The company's largest tenants are as follows:[1]
| Rank | Tenant | % of 2019 Revenue |
|---|---|---|
| 1 | Bristol-Myers Squibb | 4.1% |
| 2 | Takeda Pharmaceutical Company | 3.1% |
| 3 | 3.0% | |
| 4 | Illumina, Inc. | 2.8% |
| 5 | Eli Lilly and Company | 2.7% |
| 6 | Sanofi | 2.6% |
| 7 | Novartis | 2.2% |
| 8 | Uber | 2.1% |
| 9 | Merck & Co. | 1.9% |
| 10 | bluebird bio | 1.8% |
The company's revenues are derived in the following markets:
| Rank | Location | % of 2019 Revenue |
|---|---|---|
| 1 | Greater Boston | 36% |
| 2 | San Francisco | 26% |
| 3 | San Diego | 16% |
| 4 | New York City | 6% |
| 5 | Seattle | 6% |
| 6 | Maryland | 6% |
| 7 | Research Triangle, North Carolina | 3% |
| 8 | Other | 1% |
Properties are generally located near universities to attract tenants.[4] The company has several properties in Kendall Square in Cambridge, Massachusetts, where it has invested over $2.3 billion since its first investment in the neighborhood in 2002.[5] Its largest campuses in Boston are the 2,365,487 square foot Alexandria Center at Kendall Square and the 1,181,635 square foot Technology Square (Cambridge, Massachusetts).[1]
The company's 740,972 square foot Alexandria Center for Life Science in Manhattan has several biotechnology tenants.[6][1]
The company's San Diego properties are primarily in Torrey Pines, San Diego, University City, San Diego, and Sorrento Mesa, San Diego.[1]
History
In 1993, the partners of Jacobs Engineering Group approached Joel S. Marcus, a lawyer and CPA, with the idea of starting a company to provide laboratories and office space to biotech firms. The company was founded in 1994 and Jacobs funded the new company with $5 million.[7]
Its first purchase was of 4 buildings in San Diego.[4]
In 1997, it became a public company via an initial public offering, raising $155 million.[4]
In October 2002, the company acquired the headquarters of ZymoGenetics for $52 million in a leaseback transaction.[8]
In 2007, the company began development of the West Tower of the MaRS Discovery District in Toronto.[9] The company stopped construction during the financial crisis of 2007-08, and in 2014, it sold its interest to the Government of Ontario for $65 million.[10]
In January 2013, the company sold a research facility in Seattle to Trammell Crow Company for $42.6 million.[11]
In March 2017, it was added to the S&P 500 Index.[12]
In June 2018, the company acquired an office building leased to Amazon.com in Seattle from The Blackstone Group for $95 million.[13]
In July 2018, the company acquired 219 East 42nd Street, the headquarters of Pfizer, for $203 million in a leaseback transaction.[14]
References
- ^ a b c d e f g "Alexandria Real Estate Equities, Inc. 2019 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
- ^ Fidler, Ben (June 8, 2016). "Alexandria Sets up Incubator, $25M Seed Fund For NY Bio Startups". Xconomy.
- ^ Alcorn, Stacey (January 25, 2016). "Alexandria Real Estate Equities: More Than Just a Landlord". HuffPost.
- ^ a b c Hartung, Adam (May 20, 2017). "The #1 Real Estate Stock To Own Is Built On Trends". Forbes.
- ^ Ross, Carey (April 14, 2015). "A real estate empire grows in Kendall Square". The Boston Globe.
- ^ Ramsey, Lydia; Johnson, Hollis (July 14, 2016). "Take a look inside the stunning offices where companies are reinventing NYC's biotech scene". Business Insider.
- ^ Derven, Ron (Fall 2019). "Alexandria Real Estate Equities, Inc.: People, Passion, Purpose". NAIOP.
- ^ "ZymoGenetics sells headquarters in $52 million lease-back deal". American City Business Journals. October 7, 2002.
- ^ "MaRS selects Alexandria Real Estate Equities to expand the MaRS Centre in the Discovery District of Toronto". MaRS Discovery District. June 26, 2007.
- ^ Benzie, Robert (September 23, 2014). "Ontario government bails out MaRS building for $309m". Toronto Star.
- ^ Stiles, Marc (January 23, 2013). "Trammell Crow Co. back in the game in Seattle with $42.6 million acquisition". American City Business Journals.
- ^ "Alexandria Real Estate Equities, Inc. to Join S&P 500 Index". PR Newswire (Press release). March 16, 2017.
- ^ Stiles, Marc (June 7, 2018). "Another Amazon-leased building sells for $95 million". American City Business Journals.
- ^ "Alexandria Real Estate Equities, Inc. Expands Its First-in-Class New York City Regional Life Science Cluster Franchise with the Strategic Acquisition of 219 East 42nd Street in Manhattan, Subject to a Leaseback" (Press release). PR Newswire. July 13, 2018.
External links
- Official website
- Business data for Alexandria Real Estate Equities, Inc.: