Alexandria Real Estate Equities
|Founder||Joel Marcus |
Jerry M. Sudarsky
|Joel S. Marcus (Executive Chairman and Founder)|
Number of employees
Alexandria Real Estate Equities is a major United States real estate investment trust.
Most of Alexandria's properties are offices and laboratories, and it focuses on renting to life science and technology companies. As of December 31, 2018, Alexandria had 22 million square feet of operating space located in more than 230 properties. Tenants include Pfizer, Google, Eli Lilly and GlaxoSmithKline. It has properties in various regions throughout the United States, including Greater Boston, San Francisco, New York City, San Diego, Seattle, Maryland, and Research Triangle. As of December 31, 2018, 37% of rental revenue was from properties in the Greater Boston Area, 23% was from properties in the San Francisco area, and 16% was from properties in the San Diego area. Alexandria tries to locate its properties around universities, as opposed to more distant suburban locations.
Alexandria was founded in January 1994 by Jerry Sudarsky, Joel Marcus, Alan Gold, Gary Kreitzer and Steven Stone. It was named after Alexandria, Egypt, because of that city's connection to science. It originally began as a collaboration between Marcus and Jacobs Engineering to provide laboratories and office space to biotech firms. Its first purchase was of four buildings in San Diego. It completed an IPO in 1997, raising $155 million. In 2017, it joined the S&P 500.
Alexandria has a cluster of properties in Kendall Square in Cambridge, Massachusetts, and is a major landlord in that neighborhood. Its original investment in the area was in 2002, and it has invested at least $2.3 billion in properties in the neighborhood since then. Its largest campus is the Alexandria Center at Kendall Square, and other campuses include Alexandria Technology Square and the Alexandria Center at One Kendall Square.
Alexandria has a number of properties in the University City neighborhood of San Diego.
Alexandria was the developer of the West Tower of the MaRS Discovery District in Toronto, which began construction in 2007. The company stopped construction in 2008, due to the economic downturn, and was bought out by the Ontario government in 2011.
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- "MaRS selects Alexandria Real Estate Equities to expand the MaRS Centre in the Discovery District of Toronto - MaRS". MaRS. Retrieved 2017-12-18.
- "Outgoing CEO Ilse Treurnicht On "Battling the Beast" of MaRS' West Tower and What Comes Next - StartUp HERE Toronto". StartUp HERE Toronto. 2017-02-10. Retrieved 2017-12-18.
- Official website
- Business data for Alexandria Real Estate Equities, Inc.: