Alexandria Real Estate Equities

Pasadena, CA
Client
  • Alexandria Real Estate Equities
Space
  • 95,000 sq. ft.
Industry
  • Financial Services
Locations
  • Los Angeles
Services Provided
  • Transaction Management
  • Location Strategy & Economic Incentives
  • Workplace Intelligence
Cresa Team
  • Sean Westgate
  • Matthew Miller

Client Objectives

Alexandria Real Estate is the largest biotechnology and life sciences real estate investment trust in North America, with over 9 million square feet under ownership and management. Several years after working with Cresa renewing their leased HQ space, Alexandria engaged Cresa to assist with their search for a new corporate headquarters. The company wished to remain in the City of Pasadena due to its proximity to Caltech and ideally wanted the opportunity to purchase land and build or lease an existing building with an option to purchase.

Results

Cresa was able to uncover an off-market opportunity for Alexandria to purchase land immediately adjacent to their existing headquarters where they could build a 95,000 SF office building. Cresa completed extensive due diligence and market research in order to present an attractive purchase offer that motivated the owner to enter into negotiations to sell the property. Alexandria closed on the land sale in the summer of 2016 and they are currently completing construction on their new five-story, state-of-the-art office headquarters.
They were able to negotiate a lease renewal and expansion in our existing building with an attractive tenant concession package.
Peter M. Moglia  |  Chief Investment Officer
Alexandria Real Estate Equities, Inc.

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