PASADENA, Calif., Jan. 11, 2016 /PRNewswire/ -- Alexandria Real Estate Equities, Inc. (NYSE: ARE), an urban office real estate investment trust (REIT) uniquely focused on world-class collaborative science and technology campuses in AAA innovation cluster locations, announced today that its leasing activity for the year ended December 31, 2015, aggregating approximately 5.0 million rentable square feet (including 1.0 million rentable square feet for the three months ended December 31, 2015), is the highest twelve-month leasing volume in the company's 20-year history. The very strong demand for space at Alexandria's unique science and technology campuses reflects the ongoing need and growing interest of tenants to collaborate and translate breakthrough discoveries into high-impact, cost-effective products that save lives, manage disease and reduce the economic burden of disease on society.
"Our vibrant ecosystems with the highest quality environments inspire innovation, productivity, and drive collaboration. Alexandria's record-breaking leasing accomplishment demonstrates the continuing strong demand for our urban innovation cluster campuses from high-quality and innovative entities," said Joel S. Marcus, chairman, chief executive officer, and founder of Alexandria Real Estate Equities, Inc. "I look forward to discussing these trends and our plans for 2016 further during our presentation on Wednesday at the 34th Annual J.P. Morgan Healthcare Conference in San Francisco."
About Alexandria Real Estate Equities, Inc.
Alexandria Real Estate Equities, Inc. (NYSE: ARE) is the largest and leading urban office REIT uniquely focused on collaborative science and technology campuses in AAA innovation cluster locations with a total market capitalization of $10.8 billion as of September 30, 2015, and an asset base of 31.5 million square feet, including 19.9 million rentable square feet of operating properties and development and redevelopment projects under construction, as well as an additional 11.6 million square feet of near-term and future ground-up development projects. Alexandria pioneered this niche in 1994 and has since established a dominant market presence in key locations, including Greater Boston, San Francisco, New York City, San Diego, Seattle, Maryland and Research Triangle Park. Alexandria is known for its high-quality and diverse tenant base, with approximately 53% of total annualized base rent as of September 30, 2015, generated from investment-grade tenants – a REIT industry-leading percentage. Alexandria has a longstanding and proven track record of developing Class A assets clustered in urban science and technology campuses that provide its innovative tenants with highly dynamic and collaborative environments that enhance their ability to successfully recruit and retain world-class talent and inspire productivity, efficiency, creativity and success. For more information, please visit www.are.com.
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SOURCE Alexandria Real Estate Equities, Inc.