Alexandria Real Estate Equities Announces Early Renewal With insitro For A 6-Year Lease Extension At The Alexandria Center For Advanced Technologies Mega Campus In South San Francisco
Portfolio Pulse from Benzinga Newsdesk
Alexandria Real Estate Equities, Inc. (NYSE:ARE) announced an early 6-year lease renewal with insitro at the Alexandria Center for Advanced Technologies in South San Francisco. This renewal, extending through August 31, 2034, for 143,188 RSF, underscores insitro's commitment to its headquarters and R&D site. The deal highlights the growing demand for AI-enhanced laboratory space for drug discovery and development. Alexandria's strategic presence in South San Francisco since 1998 has positioned it as a key enabler for life science companies, with nearly 3.4 million RSF in operation.
April 01, 2024 | 12:36 pm
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Alexandria Real Estate Equities, Inc. (ARE) has solidified its position in the life science real estate market with a significant lease renewal with insitro. This move not only demonstrates ARE's strategic asset in South San Francisco but also its ability to attract and retain key players in the AI-driven drug discovery sector.
The early lease renewal with insitro for a significant space at the Alexandria Center for Advanced Technologies highlights ARE's strong positioning in the life science real estate market, particularly in areas leveraging AI for drug discovery. This is likely to be viewed positively by investors, as it reflects both the demand for ARE's specialized real estate and its ability to secure long-term commitments from innovative companies in the biotech sector.
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