Alexandria Real Estate Equities, Inc. Achieves First Fitwel Life Science Certification at 300 Technology Square on the Alexandria Technology Square Mega Campus in Its Greater Boston Life Science Cluster
PASADENA, Calif., March 15, 2022 /PRNewswire/ -- Alexandria Real Estate Equities, Inc. (NYSE: ARE), an urban office REIT and the first, longest-tenured and pioneering owner, operator and developer uniquely focused on collaborative life science, agtech and technology campuses in AAA innovation cluster locations, today announced that 300 Technology Square, a state-of-the-art laboratory facility on its Alexandria Technology Square® mega campus in Cambridge, has been recognized by the Center for Active Design (CfAD), the operator of Fitwel® — the world’s leading healthy building certification system — as the first-ever space to achieve a Fitwel Life Science certification. At 300 Technology Square, Alexandria employs several evidence-based design and operational strategies that support the physical, mental and social health of its occupants, including best practice life science safety and cleaning protocols, access to green space, public transit amenities and shuttle services and a campus-wide communications program.
Developed in strategic partnership with CfAD exclusively for Alexandria, the Fitwel Life Science Scorecard is the first evidence-based healthy building framework tailored to requirements of the complex infrastructure and protocols for laboratory facilities. This proprietary scorecard reflects Alexandria’s pioneering work in incorporating wellness features as an integral part of the design, construction and operations of its mission-critical laboratory facilities and campuses. The Fitwel Life Science Scorecard covers a range of key areas that promote occupant health and safety exclusively at Alexandria’s world-class laboratory buildings, including indoor air quality, enhanced cleaning protocols and green practices, emergency preparedness, safety training, access to healthy food options, natural daylight and outdoor space and the promotion of active commuting.
"We applaud Alexandria for their continued leadership in prioritizing and elevating the health, well-being and productivity of their broad and innovative tenant base and for their employees through their design and operations practices," said Joanna Frank, president and chief executive officer at CfAD. "Alexandria has been a tremendous partner to Fitwel since its launch in 2017. We created this scorecard with Alexandria as a tool for their use to measure their company-wide best practices against the global health evidence base."
As a founding member of Fitwel’s Leadership Advisory Board, Alexandria continues to strive toward higher industry standards for tenant health, wellness and safety. With its long-tenured scientific expertise and experience in operating, maintaining and advancing highly complex laboratory infrastructure, Alexandria enables the critical research, development, manufacturing and commercialization efforts of the most innovative life science companies in the world. Fitwel’s recognition of 300 Technology Square marks the latest of Alexandria’s numerous Fitwel firsts, including the first REIT to be named a First-in-Class Fitwel Champion, the first company to earn a Fitwel certification, the first to be recognized as the Industry Leading Company in the Best in Building Health™ Awards, the first back-to-back winner of the Fitwel Impact Award and the first to attain a Fitwel Viral Response Certification with Distinction.
"We are proud that Fitwel continues to recognize Alexandria for our operational excellence in providing healthier, safer and more sustainable environments for our tenants who work, day in and day out, to address massive unmet medical need," said Dean A. Shigenaga, president and chief financial officer of Alexandria Real Estate Equities, Inc. "This milestone collaboration further affirms our leadership in promoting the health and wellness of our tenants and our unsurpassed laboratory expertise. We remain committed to leveraging Fitwel’s proven research-based certification frameworks to keep our robust laboratory infrastructure at the cutting edge of healthy building strategies and to help us anticipate the future needs of our tenants, who are increasingly seeking holistically healthy environments for their growing teams."
Alexandria is actively pursuing additional Fitwel Life Science certifications and other healthy building certifications across its 67 million square foot asset base in North America. Through its collaboration and alignment with leading certification bodies, the company continues to enhance its leading practices to support its tenants’ health, safety, productivity and wellness, which are key to enabling the translation of groundbreaking discoveries into life-changing and lifesaving medicines for patients.
About Alexandria Real Estate Equities, Inc.
Alexandria Real Estate Equities, Inc. (NYSE: ARE), an S&P 500® urban office REIT, is the first, longest-tenured and pioneering owner, operator and developer uniquely focused on collaborative life science, agtech and technology campuses in AAA innovation cluster locations, with a total market capitalization of $44.0 billion as of December 31, 2021, and an asset base in North America of 67.0 million SF. The asset base in North America includes 38.8 million RSF of operating properties and 4.8 million RSF of Class A properties undergoing construction, 8.7 million RSF of near-term and intermediate-term development and redevelopment projects and 14.7 million SF of future development projects. Founded in 1994, Alexandria pioneered this niche and has since established a significant market presence in key locations, including Greater Boston, the San Francisco Bay Area, New York City, San Diego, Seattle, Maryland and Research Triangle. Alexandria has a longstanding and proven track record of developing Class A properties clustered in urban life science, agtech and technology 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, agtech 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 additional 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 impacts of the certification by and/or collaboration with Fitwel on patient health; the real estate and life science industries; tenant health, wellness and safety; and Alexandria’s business, strategies and operations. These forward-looking statements are based on the Company’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 the Company’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 the Company 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 the Company’s forward-looking statements, and risks and uncertainties to the Company’s business in general, please refer to the Company’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, Vice President – Communications, (626) 788–5578, skabakoff@are.com
SOURCE Alexandria Real Estate Equities, Inc.
Alexandria Real Estate Equities, Inc.
Symbol: ARE
CIK: 1035443
Exchange: NYSE
Founded: 1993 (31 years)
Type of REIT: Equity REIT
Listing Status: Public
Market Capitalization: Large-Cap
REIT Sector: Office
REITRating is REITNote's Real Estate Investment Trust industry-specific rating and ranking system. The overall score is out of ten points, with ten being the best score.
Latest Price: $116.61
High: $118.06
Low: $116.31
Open: $117.22
Previous Close: $117.09
Volume: 335,889
52-Week High: $131.26
52-Week Low: $87.93
Last updated: 2024-11-21 - v1.3