Alexandria CEO: Biotech Boom Rubbing Off on Real Estate

April 3, 2014

Alexandria Real Estate Equities is thoroughly outperforming the Dow Jones U.S. Real Estate Index because of the high percentage of investment-grade biotech and pharma tenants it houses its buildings, says the company's CEO Joel Marcus. He says the fact that Alexandria's buildings are located in hot urban centers like New York, San Francisco and Cambridge is also a factor. Marcus says the cost of designing and maintaining buildings dedicated to science may be higher, but so are the rents.