Alexandria Real Estate Equities
), a real estate investment trust (REIT), recently entered into
long-term agreements with six prestigious life science and
technologies companies, to lease a total of 187,000 square feet of
space at 'Alexandria Park at 128' located in the midst of Route 128
submarket of Greater Boston.
Alexandria Park at 128 is an eight-building science and
Technology Park, spanning approximately 345,000 square feet.
Strategically located near Hartwell Avenue, the property is well
connected to various residential areas, restaurants, shops, and
The property is already occupied by leading life science and
advanced technology companies including TIAX LLC, RainDance
Technologies, Inc., Diversified Technologies, Inc.,
Synta Pharmaceuticals Corp.
After the agreement, the property will now have six more
renowned firms as its tenants. These include Cystic Fibrosis
Foundation, QD Vision, Inc., Emerald BioStructures, 1366
Technologies, Inc., Microbia, Inc. and
Life Technologies Corp.
The Greater Boston market is among the Alexandria Real Estate's
core operational markets cluster. It owns and operates
approximately 3.5 million square feet of office and high-quality
laboratory space in close proximity to the renowned academic and
medical institutions of world.
The company has around 100 client tenants in the area including
the likes of
Biogen Idec Inc.
Quest Diagnostics Inc.
Thermo Fisher Scientific Inc.
) and others.
Alexandria Real Estate's submarkets in the Great Boston area
include Cambridge, Longwood Medical Area and Route 128. The Route
128 submarket has around 580,000 square feet of laboratory and
office space in a viable suburban location having easy
accessibility to the renowned medical and academic centers of
Boston and Cambridge. The company currently has an occupancy rate
of 95.2% in this submarket.
Pasadena, California-based, Alexandria Real Estate is the
largest owner and leading life science real estate company, focused
principally on science-driven cluster development through the
ownership, operation, management, and selective acquisition,
development, and redevelopment of properties containing life
science laboratory space. The company leases the properties mainly
to universities, pharmaceutical, medical device, life science
product, biotechnology, service, biodefense, and translational
Alexandria Real Estate currently has Zacks #3 Rank, which
translates into a short-term Hold rating. We are also maintaining
our long-term Neutral recommendation on the stock.
ABBOTT LABS (ABT): Free Stock Analysis Report
ALEXANDRIA REAL (ARE): Free Stock Analysis
BIOGEN IDEC INC (BIIB): Free Stock Analysis
CELGENE CORP (CELG): Free Stock Analysis Report
QUEST DIAGNOSTC (DGX): Free Stock Analysis
GLAXOSMITHKLINE (GSK): Free Stock Analysis
LIFE TECHNOLOGS (LIFE): Free Stock Analysis
NOVARTIS AG-ADR (NVS): Free Stock Analysis
SYNTA PHARMACT (SNTA): Free Stock Analysis
THERMO FISHER (TMO): Free Stock Analysis Report
To read this article on Zacks.com click here.