Alexandria Real Estate Equities, Inc. Executes Lease Amendment with ARIAD Pharmaceuticals, Inc. for Remaining 142,000 RSF at

  Alexandria Real Estate Equities, Inc. Executes Lease Amendment with ARIAD
   Pharmaceuticals, Inc. for Remaining 142,000 RSF at 75/125 Binney Street
              Build-to-Suit Facility in Cambridge, Massachusetts

ARIAD's leased premises will increase to approximately 99.5% of the project

Alexandria also announces the closing of a construction loan for approximately
$250 million

With two build-to-suit facilities for ARIAD and Biogen Idec underway,
Alexandria continues to make strong progress on the realization of the
Alexandria Center at Kendall Square development corridor

PR Newswire

PASADENA, Calif., Sept. 16, 2013

PASADENA, Calif., Sept. 16, 2013 /PRNewswire/ --Alexandria Real Estate
Equities, Inc. (NYSE: ARE), the leading owner, operator, and developer of
high-quality, sustainable real estate for the broad and diverse life science
industry, is pleased to announce that ARIAD Pharmaceuticals, Inc. (NASDAQ:
ARIA), a leading global oncology company, executed a lease amendment
increasing its premises at 75/125 Binney Street by approximately 142,000
rentable square feet (RSF). The lease amendment brings ARIAD's total leased
premises to approximately 386,000 RSF, or99.5%, of the project. The remaining
approximately 2,000 RSF is slated for retail. Alexandria expects to deliver
the 75/125 Binney Street facility to ARIAD in the first quarter of 2015.

Alexandria's announcement follows the January 2013 execution of a 15-year
lease with ARIAD for approximately 244,000 RSF, or 63%, of the 75/125 Binney
Street facility. Under the lease amendment, ARIAD's headquarters will now
feature a new five-story glass-walled atrium, which will provide unique
collaboration spaces, as well as pedestrian access between Binney Street and
Rogers Street Park.

In association with the amendment of ARIAD's lease, Alexandria also announces
the execution of a construction loan of approximately $250 million. The
lenders include The Bank of New York Mellon, as Lead Arranger and Agent, Union
Bank, N.A., as Document Agent, TD Bank, N.A., and Compass Bank. The term of
the loan is four years and Alexandria shall have the right to extend it for an
additional year. The loan has a variable interest rate of Libor + 135 basis

Located in Kendall Square, hailed as the most innovative square mile on the
planet, the Alexandria Center at Kendall Square is Cambridge's newest
destination for innovation, collaboration, and translation. This 11-acre,
world-class science park will feature four ground-up first-in-class
developments – 50 Binney Street, 75/125 Binney Street, 100 Binney Street, and
225 Binney Street – aggregating approximately 1.7 million RSF of high-quality
laboratory/office space as well as approximately 200,000 RSF of residential
space. In 2011, Alexandria kicked off the development of the Alexandria Center
at Kendall Square with an approximately 305,000 RSF build-to-suit for Biogen
Idec, Inc. at 225 Binney Street. Biogen Idec is a leading biotechnology
company specializing in innovative therapies for the treatment of
neurodegenerative diseases, hemophilia, and autoimmune disorders. The project
is anticipated to be completed in the next two to three weeks. ARIAD's
build-to-suit at 75/125 Binney Street will be the second development at the
Alexandria Center at Kendall Square. With a plethora of collaborative and
convenient amenities at the Alexandria Center at Kendall Square, including a
two-acre landscaped park, restaurants from the area's top chefs,
state-of-the-art meeting and event spaces with thought leadership curated by
Alexandria, high-quality hotels, and innovative wellness centers, the science
park will provide leading life science entities with a unique opportunity to
drive productivity, accelerate innovation, and recruit and retain the
brightest scientific minds.

Alexandria is the dominant life science owner and operator in the Greater
Boston cluster with approximately 3.8 million RSF of high-quality
laboratory/office space (including development and redevelopment assets)
located adjacent to world-renowned academic medical research centers.
Alexandria currently serves approximately 100 life science client tenants in
the Greater Boston cluster.

About Alexandria Real Estate Equities, Inc.

Alexandria Real Estate Equities, Inc. (NYSE: ARE), a self-administered and
self-managed investment-grade real estate investment trust (REIT), is the
largest and leading REIT focused principally on owning, operating, developing,
redeveloping 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 the laboratory niche and has since had the
first-mover advantage in the core life science cluster locations 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 and medical institutions, multinational pharmaceutical companies,
public and private biotechnology entities, United States government research
agencies, medical device companies, industrial biotech companies, venture
capital firms, and life science product and service companies.
Investment-grade client tenants represented 46% of Alexandria's total
annualized base rent as of June 30, 2013. 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 best-in-class laboratory and office space adjacent to leading academic
medical research centers, unparalleled life science real estate expertise and
services, and longstanding and expansive network in the life science
community. We believe these advantages result 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

SOURCE Alexandria Real Estate Equities, Inc.

Contact: Joel S. Marcus, Chairman, Chief Executive Officer & Founder,
Alexandria Real Estate Equities, Inc., 626-578-9693
Press spacebar to pause and continue. Press esc to stop.