Alexandria Signs 15-Year Lease with UCSF at 499 Illinois Street in Mission Bay, San Francisco

  Alexandria Signs 15-Year Lease with UCSF at 499 Illinois Street in Mission
                              Bay, San Francisco

UCSF intensifies intellectual and capital investment in Mission Bay, further
strengthening and enhancing the cluster's position as the San Francisco Bay
Area's leading life science destination for innovation, collaboration and
translation

PR Newswire

PASADENA, Calif., Sept. 17, 2013

PASADENA, Calif., Sept. 17, 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 the University of
California, San Francisco (UCSF) will establish a state-of-the-art clinical
and translational research unit focused on endocrinology at 499 Illinois
Street in Mission Bay, San Francisco. With immediate proximity to UCSF'S
research campus and three new hospitals, located just one block away, 499
Illinois Street will provide UCSF with a unique advantage in retaining its
existing world-class workforce, attracting highly talented scientists and
clinicians, and facilitating its continued growth as the nation's leading
university exclusively focused on health.

The 15-year lease at 499 Illinois Street is for approximately 30,000 rentable
square feet (RSF). Given Alexandria's previous announcement of its long-term
lease with Illumina, Inc. at 499 Illinois Street for approximately 97,700 RSF
of laboratory/office space, as well as an additional approximately 55,400 RSF
currently under negotiation, this approximately 222,780 RSF signature
waterfront project is now approximately 82% leased or under negotiation.
Market demand for the remaining space at 499 Illinois Street, and Mission Bay
more broadly, continues to be solid from multiple segments in life science,
translational clinical uses and the rapidly expanding technology and digital
health sectors. With intensifying intellectual and capital investments from
UCSF, including the opening of three new, state-of-the-art hospitals (Benioff
Children's Hospital, Cancer Hospital and Women's Specialty Hospital) in early
2015, Mission Bay continues to enhance its preeminent reputation as an
international life science ecosystem comprised of world-class academic,
institutional, pharmaceutical, biotechnology, 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.

"We are honored to expand and deepen our strategic relationship in Mission Bay
with UCSF becoming one of the key anchor client tenants at 499 Illinois
Street," said Stephen A. Richardson, Chief Operating Officer and Regional
Market Director of Alexandria's San Francisco Bay Area Cluster. "UCSF is at
the forefront of translational research, and its pioneering approach to R&D
and personalized patient care is exemplified in this world-class facility."

Alexandria's 499 Illinois Street will feature unique and collaborative amenity
spaces, including a high-quality cafe, an activated waterfront plaza with
distinct recreational areas, and access to a cutting-edge fitness center. This
iconic campus environment, ideally situated within the highly innovative and
urban Mission Bay life science ecosystem, will provide UCSF with a unique
advantage in advancing treatments for patients, recruiting and retaining its
world-class technical talent, and enhancing collaborations within and beyond
the Mission Bay life science community.

Alexandria is the dominant life science owner, operator and developer in the
San Francisco Bay Area with approximately 3 million RSF (including development
and redevelopment assets) in the Mission Bay, South San Francisco, and West
Peninsula submarkets. In addition to UCSF, Alexandria currently has
approximately 30 client tenants in Mission Bay.

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
www.are.com.

SOURCE Alexandria Real Estate Equities, Inc.

Website: http://www.are.com
Contact: Joel S. Marcus, Chairman, Chief Executive Officer, & Founder,
Alexandria Real Estate Equities, Inc., 626-578-9693
 
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