Pasadena’s Alexandria Real Estate Equities bought GE’s Boston headquarters site for $252 million this year.
Pasadena-based Alexandria Real Estate Equities, Inc. has been selected 2019 Developer of the Year by the National Association of Industrial and Office Properties (NAIOP).
The award, the association’s highest honor, will be presented to Alexandria at a ceremony on Wednesday, October 16, at NAIOP’s CRE Converge conference in Los Angeles.
Alexandria was chosen from a slate of nominees evaluated by a team of seasoned developers criteria such as: outstanding quality of projects and services; financial consistency and stability; adaptability to market conditions; active support of the industry through NAIOP; and support for the local community.
“Alexandria’s strategic positioning as the leader in innovative laboratory and office space development, its ability to thrive in changing market conditions and its strong company leadership and long-term financial stability make it a standout in the industry,” said Thomas J. Bisacquino, NAIOP president and chief executive officer.
The NAIOP national awards program annually honors the development company that best exemplifies leadership and innovation. The organization includes among its members developers, owners, investors and related professionals in office, industrial, retail and mixed-use real estate.
Alexandria pioneered the life science real estate niche in 1994, the company said in a statement. Since, it has evolved into a recognized leader in creating unique life science, technology and agtech campuses and vibrant ecosystems that enable the world’s leading innovators to develop life-changing scientific and technological breakthroughs.
The company aims to advance human health by creating clusters enabling transformative companies to cure disease and improve nutrition, and building and operating sustainable, healthy work environments while catalyzing economic activity.
Daniel J. Ryan, co-chief investment officer and San Diego regional market director of Alexandria Real Estate Equities, Inc., said the Alexandria team is working tirelessly every day “to make a better world.”
“As the first and original innovator in developing highly amenitized campuses in key life science clusters, we create environments that provide peak conditions for employee engagement, productivity and happiness,” Ryan said.
Alexandria Real Estate Equities, Inc. is a S&P 500 urban REIT (real estate investment trust) with a total market capitalization of $21.8 billion and an asset base in North America of 33.7 million square feet as of March 31.
