Purpose-built to drive innovation and collaboration, Alexandria's world-class campus is anchored by Nurix Therapeutics, a leader in targeted protein modulation that is leveraging its powerful platform to treat cancer and other challenging diseases
PASADENA, Calif. and HOUSTON, Oct. 19, 2023 /PRNewswire/ -- Alexandria Real Estate Equities, Inc. (NYSE: ARE), the first, preeminent, longest-tenured and pioneering owner, operator and developer of collaborative life science, agtech and advanced technology mega campuses in AAA innovation cluster locations, today celebrates the grand opening of the Alexandria Center® for Advanced Technologies at The Woodlands, a one-of-a-kind, amenity-rich multi-tenant campus at 8800 Technology Forest Place in the heart of the Greater Houston life science cluster. The campus is home to the first purpose-built, cost-effective Class A laboratory infrastructure in The Woodlands in Greater Houston, and the grand opening event marks a historic milestone in the company's development of a first-of-its-kind commercial life science ecosystem within this emerging innovation hub. Alexandria's proven cluster model, informed by Harvard Business Professor Michael E. Porter's cluster theory, consists of the four critical drivers needed to create a thriving life science cluster: location, innovation, talent and capital. Leveraging its nearly three-decade track record of life science ecosystem building and cluster development, the company is bringing its best-in-class commercial Labspace® real estate together with trailblazing scientific innovation, a growing STEM talent pool and strategic risk capital in The Woodlands, a world-class location that benefits from a tax-free jurisdiction, low crime rates and a cost-of-living advantage relative to major cities. Alexandria is convening industry leaders and innovators this afternoon at the new Alexandria Center for Advanced Technologies at The Woodlands to commemorate the occasion.
Intentionally designed to ignite collaboration and advance human health, the inspiring campus features move-in-ready laboratory space and adjacent nontechnical space, as well as vital laboratory support services. The campus's first building is a 123,392 RSF LEED Gold Core & Shell and Fitwel-certified redevelopment project anchored by San Francisco-based Nurix Therapeutics, a longtime Alexandria tenant. Nurix is a clinical-stage biopharmaceutical company leading the field of protein modulation to treat cancer and other challenging diseases, and its expansion to Texas enables the company to enhance its discovery and development efforts on a broad pipeline of proprietary and partnered programs in oncology and autoimmune/inflammatory diseases. Alexandria has activated and enhanced the Alexandria Center for Advanced Technologies campus with an unparalleled suite of amenities, which include modern conference and event space, an expansive courtyard and event lawn, a wellness and fitness center and on-site pickleball courts. The new campus is conveniently located in proximity to leading academic medical centers and the George Bush Intercontinental Airport. The site can accommodate development to expand the campus.
"We have had an outstanding strategic relationship with Alexandria since 2014 and approached them to support our expansion to Texas," said Arthur T. Sands, MD, PhD, president and chief executive officer of Nurix. "The Woodlands offers us a business-friendly, entrepreneurial environment that is critical to our growth. Alexandria's thoughtfully designed new campus provides us with state-of-the-art laboratory space and dynamic amenities that are key to helping us attract and retain top talent as we work to change the future of medicine through an exciting new modality of treating disease: targeted protein modulation."
"We are honored to expand our strategic relationship with Nurix and welcome them as the anchor tenant at our world-class advanced technology campus in The Woodlands. This purpose-built campus will be unmatched in the region in providing move-in-ready and cost-effective laboratories to drive forward novel therapeutic innovation in a safe work-play-live environment," said Joel S. Marcus, executive chairman and founder of Alexandria Real Estate Equities, Inc. and Alexandria Venture Investments. "Our efforts in The Woodlands are much like when we entered New York City, where commercial life science was very limited before we opened our flagship Alexandria Center for Life Science – NYC in 2010. We are similarly committed to developing a commercial life science presence in The Woodlands. Steve Jobs once said, 'the biggest innovations of the 21st century will be at the intersection of biology and technology,' and his prediction has come to fruition. Here in The Woodlands, this important convergence will drive opportunities to accelerate the development of new medicines to benefit patients."
As part of Alexandria's strategic efforts to nurture and drive this nascent life science ecosystem forward, the company is extending the Alexandria Seed Capital Platform™ to The Woodlands. Led by Alexandria Venture Investments, the national platform brings together leaders from across the life science community to catalyze early-stage investment in cutting-edge life science companies across its clusters. Jenna Foger, senior vice president – co-lead of science and technology at Alexandria Real Estate Equities, Inc. and Alexandria Venture Investments, said, "Our expansion into Greater Houston, and The Woodlands in particular, creates a unique opportunity to help bolster the ecosystem's startup community. Through our leading strategic venture investment and seed capital platforms, we will engage local scientists and entrepreneurs to identify new technologies and companies for seed- and early-stage investment and introduce those that are most promising to our unparalleled network of biopharmaceutical industry experts and venture advisors to accelerate innovation in The Woodlands."
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 since our founding in 1994, Alexandria is the preeminent and longest-tenured owner, operator and developer of collaborative life science, agtech and advanced technology mega campuses in AAA innovation cluster locations, including Greater Boston, the San Francisco Bay Area, New York City, San Diego, Seattle, Maryland and Research Triangle. Alexandria has a total market capitalization of $30.6 billion and an asset base in North America of 74.9 million SF as of June 30, 2023, which includes 41.1 million RSF of operating properties and 5.3 million RSF of Class A/A+ properties undergoing construction, 9.4 million RSF of near-term and intermediate-term development and redevelopment projects and 19.1 million SF of future development projects. Alexandria has a longstanding and proven track record of developing Class A/A+ properties clustered in life science, agtech and advanced technology 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, agrifoodtech, climate innovation and technology 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 the potential benefits relating to the location of The Woodlands; the potential impact of The Woodlands on the discovery and development of medicines and treatments, the workforce of Alexandria's tenants and benefits to patients; the likelihood of continued investments and developments by Alexandria in Greater Houston, strategic efforts by Alexandria in the life science sector and Alexandria's relationship with its tenants; and the ability of Alexandria and Alexandria Venture Investments to bring together industry leaders to catalyze investments in the life science sector, identify new technologies and companies and accelerate innovation in The Woodlands. 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: Sara Kabakoff, Senior Vice President – Chief Content Officer, (626) 788-5578, skabakoff@are.com
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