Alexandria
announces that a recently completed large-scale solar farm is now
supplying renewable power to meet 100% of its Greater Boston region's electricity load
through a long-term power purchase agreement
Alexandria
joined Moderna and the Massachusetts governor on June 26 to celebrate the grand opening of the
mRNA leader's new 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
PASADENA, Calif., June 28,
2024 /PRNewswire/ -- Alexandria Real Estate Equities,
Inc. (NYSE: ARE), the first, preeminent, longest-tenured and
pioneering owner, operator and developer of collaborative life
science mega campuses in AAA innovation cluster locations, today
announced that it has released its 2023 Corporate Responsibility
Report, reinforcing the company's longstanding operational
excellence across its industry-leading, differentiated
Labspace® platform. At the vanguard and heart of the
life science industry for over 30 years, Alexandria provides the complex infrastructure
needed to support this vital industry's mission-critical work to
develop new treatments and cures. In Greater Boston, the top life science cluster
in the world, Alexandria continues
to advance its renewable electricity strategy with the recent
completion of a large-scale solar farm in early June, which is now
supplying renewable power to meet 100% of the region's electricity
load for Alexandria-paid accounts
through a long-term power purchase agreement and enabling its
tenants to meet their sustainability goals.
An exceptional example of Alexandria's alignment of its strategic
sustainability goals with those of its tenants is Moderna's new
global HQ and R&D center at 325 Binney Street, for which
Alexandria received a Cambridge Chamber of Commerce 2023 Visionary
Award. Alexandria joined Moderna
and the Massachusetts governor on
June 26 to celebrate the grand
opening of this state-of-the-art, 462,100 RSF facility. Located on
the Alexandria Center® at One Kendall Square mega
campus, 325 Binney Street supports Moderna as the company advances
its world-class mRNA platform — the platform behind its COVID-19
and RSV vaccines — and helps the company recruit and retain the
best talent while minimizing its environmental footprint. The
ultra-efficient building is targeting LEED Zero Energy and LEED
Platinum Core & Shell certifications, reduced fossil fuel use
through the implementation of a geothermal system and 100%
renewable electricity, resulting in an estimated 97% emissions
reduction.
Alexandria was named one of
Newsweek's Most Trustworthy Companies in America for the
second consecutive year in April
2024. Its 2023 Corporate Responsibility Report details its
innovative strategy for reducing emissions in its essential
Labspace infrastructure through energy efficiency, electrification
and alternative energy, and renewable electricity. As part of the
report, the company launched its new target to reduce operational
greenhouse gas (GHG) emissions intensity 30% by 2030 from a 2022
baseline. The report also spotlights Alexandria's pioneering efforts to develop and
implement scalable, long-term solutions to some of the nation's
most pressing issues through its eight corporate responsibility
pillars, including prioritizing mental health and addiction.
Additional notable corporate responsibility initiatives and
achievements in the report include:
- Outperforming a CRREM-aligned science-based emissions reduction
pathway for operational GHG emissions intensity in 2021, 2022 and
2023.
- Earning several achievements in the 2023 GRESB Real Estate
Assessment: 4-Star Ratings in the operating asset and development
benchmarks, seventh consecutive Green Star designation and sixth
consecutive "A" disclosure score with a perfect score of 100 and a
#1 ranking for transparency regarding sustainability practices and
reporting.
- Pursuing Zero Energy certification for 685 Gateway Boulevard,
which earned an AIA California 2023 Design Award for Climate
Action, is designated as Zero Energy Ready and is on track to
achieve ILFI Zero Energy certification.
- Utilizing alternative energy sources, such as geothermal energy
at the recent development delivery to Eli Lilly at 15 Necco Street
in Greater Boston and wastewater
heat recovery at Alexandria's
innovative energy district on its South Lake Union mega campus in
Seattle.
- Generating 50% of its annual rental revenue from 94 properties
that have earned or are targeting LEED certification as of
December 31, 2023.
- Pioneering OneFifteen, a novel, data-driven comprehensive care
model on an integrated campus in Dayton,
Ohio that provides the full continuum of care to support
addiction recovery and has treated over 7,500 patients since
opening in 2019.
The full report, which obtained third-party limited assurance
from DNV Business Assurance USA,
Inc. and was developed in accordance with the Global Reporting
Initiative Standards, is available on the Corporate
Responsibility page of the company's website.
About Alexandria Real Estate Equities, Inc.
Alexandria
Real Estate Equities, Inc. (NYSE: ARE), an S&P
500® company, is a best-in-class, mission-driven
life science REIT making a positive and lasting impact on the
world. As the pioneer of the life science real estate niche since
our founding in 1994, Alexandria
is the preeminent and longest-tenured owner, operator and developer
of collaborative life science mega campuses in AAA innovation
cluster locations, including Greater
Boston, the San Francisco Bay
Area, San Diego,
Seattle, Maryland, Research Triangle and New York City. Alexandria has a total market capitalization
of $34.4 billion and an asset base in
North America of 74.1 million SF
as of March 31, 2024, which includes
42.2 million RSF of operating properties, 5.3 million RSF of Class
A/A+ properties undergoing construction and one committed near-term
project expected to commence construction in the next two years,
2.5 million RSF of priority anticipated development and
redevelopment projects and 24.1 million SF of future development
projects. Alexandria has a
longstanding and proven track record of developing Class A/A+
properties clustered in life science mega campuses that provide our
innovative tenants with highly dynamic and collaborative
environments that enhance their ability to successfully recruit and
retain world-class talent and inspire productivity, efficiency,
creativity and success. Alexandria
also provides strategic capital to transformative life science
companies through our venture capital platform. We believe our
unique business model and diligent underwriting ensure a
high-quality and diverse tenant base that results in higher
occupancy levels, longer lease terms, higher rental income, higher
returns and greater long-term asset value. For more information on
Alexandria, please
visit www.are.com.
Forward-Looking Statements
This press release includes "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
Such forward-looking statements include, without limitation,
statements regarding Alexandria's
corporate responsibility initiatives, practices, goals and
investments; the impact of the foregoing on Alexandria's tenants' business and workforce
and on the environment and society; and LEED and healthy building
certifications and efficiencies. These forward-looking
statements are based on Alexandria's present intent, beliefs or
expectations, but forward-looking statements are not guaranteed to
occur and may not occur. Actual results may differ materially from
those contained in or implied by Alexandria's forward-looking statements as a
result of a variety of factors, including, without limitation, the
risks and uncertainties detailed in its filings with the Securities
and Exchange Commission. All forward-looking statements are made as
of the date of this press release, and Alexandria assumes no obligation to update
this information. For more discussion relating to risks and
uncertainties that could cause actual results to differ materially
from those anticipated in Alexandria's forward-looking statements, and
risks and uncertainties to Alexandria's business in general, please refer
to Alexandria's filings with the
Securities and Exchange Commission, including its most recent
annual report on Form 10-K and any subsequently filed quarterly
reports on Form 10-Q.
CONTACT: Courtney
Mulligan, Assistant Vice President – Corporate Social
Responsibility &
Strategic Projects, (646) 939-7471, cmulligan@are.com
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SOURCE Alexandria Real Estate Equities, Inc.