Alexandria Real Estate starts developing NYC life science center north tower

|About: Alexandria Real Estate Equi... (ARE)|By:, SA News Editor

Alexandria Real Estate Equities (ARE) starts development of the North Tower, its third tower at Alexandria Center for Life Science-New York City, with the signing of an amendment to its long-term ground lease with New York City.

The North Tower is being increased to 550,000 rentable square feet from 420,000 square feet originally planned.

Alexandria also closes on the acquisition of a 177,000 RSF property in Long Island City, NY.

The company now has a 1.3M RSF pipeline in New York City.

Previously: Alexandria Real Estate Equities FFO in-line, misses on revenue(July 30)

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