Profile: Alexandria Real Estate Equities Inc (ARE)
2 Jul 2015
Alexandria Real Estate Equities, Inc., incorporated on October 27, 1994, is a self-administered and self-managed real estate investment (REIT). The Company is engaged in the business of providing office/laboratory and tech office space for lease to the science and technology industries. The Company has five properties in Canada, as well as eight operating properties, one development project, and several land parcels in Asia. As of December 31, 2014, the Company had 193 properties containing approximately 18.7 million rentable square feet (RSF) of office/laboratory and tech office space.
As of December 31, 2014, the Company held a fee simple interest in each of its properties, with the exception of 28 properties that accounted for approximately 15% of its total number of properties. Of the 28 properties, it held 14 properties in the Greater Boston market, five properties in the San Francisco Bay Area market, two properties in the New York City market, one property in the Maryland market, two properties in the Research Triangle Park market and four properties in the Asia market. As of December 31, 2014, the Company had 562 leases with a total of 441 client tenants and 87 of its 193 properties were single-tenant properties.
As of December 31, 2014, investment-grade client tenants represented 56% of the Company’s total annualized base rent (ABR); 95% of its leases (on an RSF basis) were triple net leases; 94% of its leases (on an RSF basis) contained effective annual rent escalations, and 93% of its leases (on an RSF basis) provided for the recapture of certain capital expenditures, such as heating, ventilation and air conditioning (HVAC) systems maintenance and/or replacement, roof replacement and parking lot resurfacing. The Company’s portfolio includes Alexandria Center at Kendall Square; Alexandria Park at 128; Alexandria Technology Center-Gateway; Alexandria Center for Life Science; ARE Nautilus; ARE Towne Centre; ARE Portola, and Alexandria Technology Center-Gaithersburg I, among others.
Alexandria Real Estate Equities Inc
385 E Colorado Blvd Ste 299
PASADENA CA 91101-6104