Alexandria Real Estate Equities, Inc. Announces Accelerated Delivery Of Moderna's New 462,100 RSF HQ And R&D Center, Designed To Be The Most Sustainable Laboratory Building In Cambridge, At 325 Binney Street On The One Kendall Square Mega Campus
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Alexandria Real Estate Equities, Inc. (ARE) has accelerated the delivery of Moderna's new 462,100 RSF HQ and R&D Center at 325 Binney Street, Cambridge. The state-of-the-art facility, set to deliver in November 2023, will support Moderna's growth and its pipeline of mRNA medicines. The project is expected to significantly contribute to Alexandria's incremental annual net operating income (NOI) commencing in 4Q23. Alexandria received the Cambridge Chamber of Commerce's 2023 Visionary Award for developing this sustainable facility.
October 03, 2023 | 12:42 pm
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Alexandria's accelerated delivery of Moderna's new HQ and R&D Center is expected to significantly contribute to its incremental annual NOI from 4Q23. The project has also earned Alexandria the 2023 Visionary Award from the Cambridge Chamber of Commerce.
The accelerated delivery of Moderna's new HQ and R&D Center by Alexandria is a significant development. It not only strengthens their strategic relationship with Moderna but also is expected to boost their NOI from 4Q23. This positive financial impact, coupled with the recognition from the Cambridge Chamber of Commerce, is likely to have a positive impact on Alexandria's stock in the short term.
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