Oct. 29, 2009 (PR Newswire) --

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 foundation for collaboration, with a rich and prolific history of generating commercially viable intellectual capital. UCSF's entrepreneurial faculty and technology transfer office have led to the creation of more than 60 biopharmaceutical companies. UCSF, a powerful life science innovation engine, is unique among nearly all centers of excellence across the nation Other Alexandria client tenants at Mission Bay include such prestigious entities as Celgene Corporation, Merck & Co., Inc., Presidio Pharmaceuticals, Inc., Five Prime Therapeutics, Inc., Ion Torrent Systems, Inc., the J. David Gladstone Institutes, UCSF Orthopedic Clinic and blue-chip venture capital firms.