PASADENA, Calif., Sept. 30, 2024 /PRNewswire/ -- Alexandria Real Estate Equities, Inc. (NYSE: ARE), the first, preeminent, longest-tenured and pioneering owner, operator and developer of collaborative mega campuses in AAA life science innovation cluster locations, today announced it has been named by Newsweek as one of the World's Most Trustworthy Companies in 2024. This significant distinction builds on Alexandria's recognition by the publication as one of America's Most Trustworthy Companies in 2023 and 2024. Alexandria was selected for this prestigious annual list based on the analysis of an extensive independent survey, compiled in collaboration with Newsweek's market research partner Statista, in which more than 70,000 participants rated companies based on investor, customer and employee trust. Alexandria is one of only three S&P 500 REITs recognized in the real estate and housing category.
"We are honored to be recognized as one of the World's Most Trustworthy Companies by Newsweek. This prestigious designation reflects our investors' confidence in our track record of generating long-term value; our unique position at the vanguard and heart of the life science industry; and our egoless mission-driven culture," said Joel S. Marcus, executive chairman and founder of Alexandria Real Estate Equities, Inc. and Alexandria Venture Investments. "As the most trusted brand in life science real estate, we continue to work diligently to enhance our one-of-a-kind leading Labspace® platform and shape the holistic life science clusters that are essential to enabling this $5 trillion secularly growing industry's development of new medicines. With 10,000 diseases known to humankind and less than 10% addressable with therapies, we are still in the early innings of the biology revolution, and it is imperative that we support our tenants in their mission-critical efforts to help people live healthier, better-quality lives."
Creating long-term value for Alexandria's investors and fulfilling its mission to advance human health are among the company's primary business objectives. From Alexandria's initial public offering in May 1997 through June 30, 2024, it has generated an outstanding total shareholder return (TSR) of 1,420%, significantly outperforming major indices over the same period, including the FTSE Nareit Equity Health Care Index's TSR of 1,091% and the MSCI US REIT Index's TSR of 790% (assuming reinvestment of dividends). Alexandria also continues to exhibit high levels of transparency, integrity and accountability, as highlighted by its eight Nareit Investor CARE (Communications and Reporting Excellence) Awards — including seven Gold Awards, the most earned by any equity REIT.
Since its founding over 30 years ago, Alexandria has strategically cultivated trusted tenant relationships with leading life science companies, including Eli Lilly, Bristol Myers Squibb and Moderna. These longstanding relationships are a testament to the company's deep life science and technical expertise, its pioneering spirit to continually innovate to meet its tenants' evolving needs, and its proven ability to create and operate vibrant mega campuses with inspiring design and people-centric environments that help its tenants recruit and retain top talent. As of June 30, 2024, the company's mega campuses encompass 74% of its annual rental revenue. Demonstrating the value of its well-amenitized mega campuses and strategic relationships, approximately 80% of Alexandria's leasing activity in the past year was generated from its existing tenants.
Alexandria devotes extraordinary efforts to building loyal, trusted relationships with its employees. The company has an exceptional suite of benefits focused on prioritizing the physical, mental and financial well-being of its employees and their families. This comprehensive package includes a top-tier health plan; a highly competitive compensation program and retirement plan; performance bonuses and rewards; and work-life support, including wellness reimbursements and generous paid time off and company holidays. Alexandria also provides excellent career advancement opportunities, tailored professional development and training programs, and volunteer programs to enhance the communities where we live and work. The positive employee experience is evidenced by the company's low five-year average voluntary turnover rate of 4.1% (for 2019–2023), which is substantially lower than the voluntary turnover rate of 14.0% in the Nareit 2023 Compensation & Benefits Survey (data for 2022).
Alexandria's longstanding corporate responsibility pillars are also key to enhancing stakeholder trust. The company continues to make a tangible positive impact through its steadfast work to develop and implement scalable, long-term solutions to some of the nation's most urgent challenges, including disease, hunger and food insecurity, deficiencies in military support services, disparities in educational opportunities, addiction and mental health. Mental health is essential to overall health, and reducing the stigma around mental illness is among Alexandria's critical goals for addressing the staggering mental health crisis. According to the CDC, over 49,000 people died by suicide in 2022, which is about one death every 11 minutes; provisional data is similar for 2023. Amid this crisis, the suicide rate for veterans is nearly 60% higher than for the country's non-veteran adult population. Since 2010, Alexandria has partnered with the Navy SEAL Foundation to support its vital work addressing the unique physical and mental health needs of our nation's elite warriors. Most recently, Alexandria has played an instrumental role in the establishment and operation of the foundation's Warrior Fitness Program West Coast facility in San Diego, where experts are helping military personnel and veterans recover physically and mentally and rebuild from injuries and trauma.
As National Suicide Prevention Month comes to a close, Alexandria honors the memories of those lost to suicide and affirms its commitment to driving meaningful change for the millions of individuals struggling with mental illness, trauma and life's challenges. If you or someone you know is in crisis, call or text 988 to reach the 988 Suicide & Crisis Lifeline.
About Alexandria Real Estate Equities, Inc.
Alexandria Real Estate Equities, Inc. (NYSE: ARE), an S&P 500® company, is a best-in-class, mission-driven life science REIT making a positive and lasting impact on the world. As the pioneer of the life science real estate niche with our founding in 1994, Alexandria is the preeminent and longest-tenured owner, operator and developer of collaborative mega campuses in AAA life science innovation cluster locations, including Greater Boston, the San Francisco Bay Area, San Diego, Seattle, Maryland, Research Triangle and New York City. As of June 30, 2024, Alexandria has a total market capitalization of $32.5 billion and an asset base in North America that includes 42.1 million RSF of operating properties and 5.3 million RSF of Class A/A+ properties undergoing construction and one committed near-term project expected to commence construction in the next two years. Alexandria has a longstanding and proven track record of developing Class A/A+ properties clustered in mega campuses that provide our 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. Alexandria also provides strategic capital to transformative life science companies through our venture capital platform. We believe our unique business model and diligent underwriting ensure a high-quality and diverse tenant base that results in higher occupancy levels, longer lease terms, higher rental income, higher returns and greater long-term asset value. For more information on Alexandria, please visit www.are.com.
Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include, without limitation, statements regarding Alexandria's corporate responsibility initiatives, practices, investments and progress, and the potential impacts of such activities on Alexandria's business and the companies and non-profit organizations in which Alexandria invests or with which Alexandria has strategic relationships. These forward-looking statements are based on Alexandria's present intent, beliefs or expectations, but forward-looking statements are not guaranteed to occur and may not occur. Actual results may differ materially from those contained in or implied by Alexandria's forward-looking statements as a result of a variety of factors, including, without limitation, the risks and uncertainties detailed in its filings with the Securities and Exchange Commission. All forward-looking statements are made as of the date of this press release, and Alexandria assumes no obligation to update this information. For more discussion relating to risks and uncertainties that could cause actual results to differ materially from those anticipated in Alexandria's forward-looking statements, and risks and uncertainties to Alexandria's business in general, please refer to Alexandria's filings with the Securities and Exchange Commission, including its most recent annual report on Form 10-K and any subsequently filed quarterly reports on Form 10-Q.
CONTACT: Joel S. Marcus, Executive Chairman & Founder, (626) 578-9693, jmarcus@are.com
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