Alexandria's 499 Illinois Street in Mission Bay, San Francisco, Signs Anchor 97,700 Rentable Square Foot Lease with Leading Mid

 Alexandria's 499 Illinois Street in Mission Bay, San Francisco, Signs Anchor
 97,700 Rentable Square Foot Lease with Leading Mid-Cap Life Science Company

Selection reaffirms Alexandria's Mission Bay cluster as a first-class
international epicenter for life science talent, collaboration and innovation

PR Newswire

PASADENA, Calif., May 28, 2013

PASADENA, Calif., May 28, 2013 /PRNewswire/ --Alexandria Real Estate
Equities, Inc. (NYSE: ARE), the leading and largest owner, operator, and
developer of high-quality, sustainable real estate for the broad and diverse
life science industry, is honored to announce that a leading mid-cap life
science company with an equity market capitalization of approximately $7 - $10
billion will establish its flagship Bay Area R&D center at 499 Illinois Street
in Mission Bay, San Francisco. Located in the heart of one of the life
science industry's most vibrant, innovative andentrepreneurialclusters,
directly adjacent to UCSF'S research campus and the three new UCSFhospitals
complex, 499 Illinois Street will provide this key client tenant with a unique
advantage in retaining its existing world-class workforce, attracting new
talent, and facilitating its continued growth and scientific dominance within
its field. Additionally, as a global company with a broad customer base around
the world, the Company's decision to locate this R&D center at 499 Illinois
Street reaffirms Mission Bay's preeminent position as a leading international
life science ecosystem comprised of world-class pharmaceutical, biotechnology,
academic, government, and venture capital entities that are collectively
developing novel, breakthrough products that will save lives, manage disease
and reduce the economic burden of disease on society.

Alexandria's client tenant has signed a 10-year lease at 499 Illinois Street
for approximately 97,700 rentable square feet (RSF), or 45%, of the 219,600
RSF facility, consistent with the Company's current "initial yield"
projections. The client tenant will open a state-of-the-art R&D center in
Mission Bay focused on the development of next generation products and
services, as well as a customer demonstration and training center.

Alexandria's Mission Bay life science cluster is renowned for its significant
talent base – a dense concentration of Nobel Prize winners, scientists,
doctoral students, entrepreneurs, venture capitalists, and technologists from
first-class client tenants including the University of California, San
Francisco (UCSF), California Institute for Quantitative Biosciences (QB3),
Bayer AG, Celgene Corporation, Fibrogen, Inc., Nektar Therapeutics, Inc., and
blue chip venture capital firms such as Novo Ventures, OrbiMed Advisors, Third
Rock Ventures, venBio, and Versant Ventures.

At the heart of Mission Bay, UCSF is leading the Precision Medicine
revolution, which aims to integrate genomic, clinical and environmental data
into routine clinical practice and improve patient diagnosis and treatments.
In recent weeks, Mission Bay has garnered international acclaim with the
announcement that two major drug developers – Roche and Bayer AG – have
initiated strategic partnerships with QB3. In addition to Roche and Bayer AG,
Novartis AG and Pfizer Inc. have also joined the QB3 program. With innovative
collaborations pioneered by QB3 as well as UCSF's intensifying intellectual
and capital investment in translational medicine, Mission Bay has become the
epicenter of life science innovation, collaboration and translation in the San
Francisco Bay Area. The current market demand is very strong for 499 Illinois
Street particularly, and Mission Bay more broadly, from multiple market
segments including life science, translational clinical uses and the rapidly
expanding technology sector.

"We are honored to welcome this exceptional client tenant to the Mission Bay
life science ecosystem and 499 Illinois Street for the creation of an iconic
R&D center," said Stephen A. Richardson, Chief Operating Officer and Regional
Market Director of Alexandria's San Francisco Bay Area Cluster. "This Company
is a world-class organization, and we look forward to integrating its team
into the highly innovative and collaborative Mission Bay life science

The client tenant's Mission Bay R&D center will feature unique and creative
amenity spaces, including a high-quality cafe, an activated bay front plaza
with distinct recreational areas, and a cutting-edge fitness center. This
iconic campus environment, ideally situated within the highly innovative and
urban Mission Bay life science ecosystem, will provide the Company with a
unique advantage in recruitment and retention, as well as driving productivity
for this world-class organization.

About Alexandria Real Estate Equities, Inc.
Alexandria Real Estate Equities, Inc. (NYSE: ARE), a self-administered and
self-managed real estate investment trust (REIT), is the leading and largest
investment-grade REIT focused principally on owning, operating, redeveloping,
developing, and acquiring high-quality, sustainable real estate for the broad
and diverse life science industry. Founded in 1994, Alexandria was the first
REIT to identify and pursue a primary focus on the laboratory niche and has
since had the first-mover advantage in every core life science cluster
location including Greater Boston, the San Francisco Bay Area, San Diego, New
York City, Seattle, Suburban Washington, D.C., and Research Triangle Park.
Alexandria's high-credit client tenants span the life science industry,
including renowned academic medical research centers, multinational
pharmaceutical companies, public and private biotechnology entities, U.S.
government research agencies, medical device companies, industrial
biotechnology companies, venture capitalists, and life science product and
service companies. Forty-six percent of Alexandria's total annualized base
rent is generated from investment-grade client tenants. As the recognized real
estate partner of the life science industry, Alexandria has a superior track
record in driving client tenant productivity, collaboration, and innovation
through its CBD locations adjacent to leading academic medical research
centers, best-in-class laboratory/office space, unparalleled life science real
estate expertise and services, and longstanding and expansive network in the
life science community, which we believe result in higher occupancy levels,
longer lease terms, higher rental income, higher returns, and greater
long-term asset value. For more information, please visit

This press release contains forward-looking statements within the meaning of
the federal securities laws. Actual results may differ materially from those
projected in the forward-looking statements. Additional information concerning
factors that could cause actual results to differ materially from those in the
forward-looking statements is contained in our Annual Report on Form 10-K and
our other periodic reports filed with the Securities and Exchange Commission.

SOURCE Alexandria Real Estate Equities, Inc.

Contact: Joel S. Marcus, Chairman, Chief Executive Officer, & Founder,
Alexandria Real Estate Equities, Inc., 626-578-9693
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