PASADENA, Calif., Nov. 12, 2012 /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 science industry, is pleased to announce a 10-year lease transaction with Genomatica, Inc., the rising star of the industrial biotechnology sector. Genomatica has garnered such prestigious accolades as 2012 winner of the respected Wall Street Journal Technology Innovation Award in the Materials category, Number 1 in the 2012-13 "30 Hottest Companies in Renewable Chemicals and Biobased Materials" rankings by Biofuels Digest for the second consecutive year, and recipient of the top honor in green chemistry, the Environmental Protection Agency's Presidential Green Chemistry Challenge Award.
Genomatica is relocating from its existing Wateridge Summit facility to Alexandria's ARE Esplanade campus in University Town Center, where it will fully occupy an approximately 68,000-square-foot facility that Alexandria is currently redeveloping and expects to deliver in September 2013. ARE Esplanade is a one-of-a-kind, sustainable science campus that will feature a unique pedestrian esplanade, a creative eatery with organic offerings, and state-of-the-art meeting spaces for collaboration. Genomatica's decision to relocate to ARE Esplanade affirms Alexandria's leading brand, which is a direct result of its prime adjacency locations, innovative campus environments, fully-integrated regional team, unparalleled network, and operational excellence in the San Diego science cluster.
"We are extremely honored that Genomatica, a world-class industrial biotechnology company, has chosen our ARE Esplanade campus as their long-term home," said Daniel J. Ryan, Executive Vice President and Regional Market Director at Alexandria. "We are appreciative of the teamwork, passion, and determination shown by the leadership team of Genomatica and are proud to include them in our blue-chip, best-in-class client tenant network."
Genomatica, which is developing cost-effective bio-based manufacturing processes to convert renewable feedstocks into numerous high-volume intermediate and basic chemicals, is part of a growing industrial biotechnology sector in San Diego. Given its premier research institutions, robust network of entrepreneurial thought leaders, and culture of innovation, San Diego has emerged as a leading cluster for industrial biotechnology fields ranging from renewable chemicals to industrial enzymes to biofuels. As landlord of choice to this burgeoning sector, Alexandria has successfully consummated approximately 206,000-square-feet of leases with first-class industrial biotechnology companies including Verenium Corporation and Sapphire Energy, Inc." Alexandria's leasing success in San Diego is unparalleled," said Joel S. Marcus, Chairman, Chief Executive Officer, and Founder of Alexandria. "From the second quarter of 2010 through the third quarter of this year, Alexandria has leased approximately 1,666,000-square-feet in San Diego, which is more than four times any other life science landlord. Alexandria has continued this longstanding tradition of leasing excellence in San Diego with over 340,000-square-feet leased year-to-date, thus solidifying its leading brand in this world-class cluster." Alexandria has leased approximately 340,000-square-feet year-to-date, including the following key recent lease transactions:
- California Institute for Biomedical Research, a newly established, not-for-profit organization founded by world-renowned researcher and entrepreneur, Peter G. Schultz, Ph.D., with funding from Merck & Co., Inc. to accelerate the translation of basic biomedical research into innovative new medicines, executed a new lease for approximately 25,000-square-feet at ARE Arenisca in Torrey Pines.
- Illumina, Inc., a leading developer, manufacturer, and marketer of life science tools and integrated systems for large-scale analysis of genetic variation and function, executed a lease for an additional approximately 23,000-square-feet on its 474,000-square-foot world-class science campus with Alexandria. Alexandria acquired this flagship campus in University Town Center from Biogen Idec, Inc. in October 2010 and fully leased it to Illumina within 90 days of acquisition.
- Organovo Holdings, Inc. executed a new lease for approximately 16,000-square-feet at ARE Portola in Alexandria's Sorrento submarket. Organovo designs and creates functional human tissues and disease models for medical research and therapeutic applications using its proprietary three dimensional bioprinting technology.
- PaxVax, Inc., an innovative vaccine company focused on developing and commercializing vaccines against infectious diseases, executed an approximately 18,000-square-foot lease at Alexandria's 3985 Sorrento Valley Boulevard facility.
- Pharmatek Laboratories Inc. is a premier contract development and manufacturing organization providing full-service pharmaceutical chemistry product development for the biotech and pharmaceutical industries. Pharmatek renewed its approximately 52,000-square-foot lease and expanded with an additional approximately 7,000-square-feet of laboratory/office space at 7330 Carroll Road in Alexandria's Sorrento submarket.
- Shire plc, a specialty biopharmaceutical company focused on therapeutics for attention deficit and hyperactivity disorder, gastrointestinal diseases, human genetic therapies, regenerative medicine, and other therapeutic areas, executed an approximately 36,000-square-foot renewal and expansion at 10931/10933 North Torrey Pines Road.
- Tandem Diabetes Care, Inc., a medical device company developing novel technologies for diabetes management including its recently launched touch-screen insulin pump, executed an approximately 66,000-square-foot renewal and expansion at Alexandria's 11025/11035/11045 Roselle Street facility in Sorrento.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts