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Alexandria Real Estate Equities, Inc. Provides Update
Date:10/29/2009

PASADENA, Calif., Oct. 29 /PRNewswire/ -- Alexandria Real Estate Equities, Inc. (NYSE: ARE), Landlord of Choice to the Life Science Industry®, today provided an update highlighting recent accomplishments.

Alexandria announced the delivery of a state-of-the-art facility to Pfizer Inc. at the Alexandria Center for Science and Technology at Mission Bay®. As announced in August, 2008, Pfizer Inc. entered into a 15-year lease for approximately 102,000 square feet at this dynamic, first-in-class life science cluster. Alexandria's highly skilled development and construction teams worked closely with Pfizer Inc. to develop a robust, flexible and reusable base building with state-of-the-art infrastructure.

Pfizer Inc. recently completed a sublease with Nektar Therapeutics, which will use this facility for its drug discovery research, development and commercialization activities. The facility is very high quality with environmentally sustainable technical infrastructure located in a critically important adjacency location to University of California San Francisco (UCSF). The Pfizer Inc. facility is Alexandria's third life science project at Mission Bay and is highly successful in its construction, delivery and lease-up.

"We are proud to have worked closely with Pfizer on the design and construction of this state-of-the-art facility. Equally important, we are pleased to note that the building was delivered on time and on budget," said Stephen Richardson, Senior Vice President and Regional Market Director for the San Francisco Bay Area, Alexandria Real Estate Equities, Inc.

The Alexandria Center for Science and Technology at Mission Bay® has quickly become one of the world's preeminent life science clusters. At the heart of Mission Bay is UCSF, which provides a strong fo
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SOURCE Alexandria Real Estate Equities, Inc.
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