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Alexandria Real Estate Equities, Inc. Executes 15-Year Lease Extension with NIH for 60,000 RSF of Mission-Critical Space at Alexandria's 9800 Medical Center Drive Campus in Shady Grove Life Sciences Center
Date:10/24/2013

PASADENA, Calif., Oct. 24, 2013 /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 life science industry, is pleased to announce a 15-year lease extension with the National Institutes of Health (NIH) for approximately 60,000 RSF at Alexandria's 9800 Medical Center Drive campus in the Shady Grove Life Sciences Center of Rockville, Maryland. In addition to the lease extension, Alexandria announces the delivery of an additional approximately 75,000 RSF, also with a 15-year term, to the NIH at the same location. With a total commitment of approximately 135,000 RSF, the NIH will site mission-critical divisions, including the prestigious National Center for Advancing Translational Sciences (NCATS), at Alexandria's four-building, approximately 282,000 RSF campus. The NIH's compelling need to extend and expand its presence reflects Alexandria's AAA location in Maryland's I-270 Corridor, Class A campus, and longstanding reputation, experience and expertise as the best-in-class provider of high-quality real estate for the government's most important life science initiatives.

The NIH divisions sited at Alexandria's 9800 Medical Center Drive campus include NCATS; the National Heart, Lung and Blood Institute; the National Institute of Child Health and Human Development; and the National Institute of Drug Abuse. NCATS, which was pioneered by NIH Director Francis S. Collins, MD, PhD, and established in December 2011, has received an unprecedented annual funding level – more than $550 million. NCATS will occupy approximately
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SOURCE Alexandria Real Estate Equities, Inc.
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