Alexandria Real Estate (ARE) has accelerated delivery of 325 Binney Street to Moderna (MRNA). The Class A+ property currently under construction is now set to deliver in November 2023. Located on the Alexandria Center at One Kendall Square mega campus in Cambridge, the facility was selected by Moderna for its new global headquarters and core R&D operations. This development project is also expected to be delivered under budget. As of June 30, the company’s highly leased value-creation pipeline is expected to drive future annual incremental NOI aggregating $605M through 2Q26.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on ARE:
- Alexandria Real Estate initiated with an Outperform at Wedbush
- Alexandria Real Estate Equities, Inc. Declares Cash Dividend of $1.24 per Common Share for 3Q23, for an Aggregate of $4.90 per Common Share for the 12 Months Ending September 30, 2023, an Increase of 24 Cents, or 5 Percent, Over the 12 Months Ended September 30, 2022
- Alexandria Real Estate price target lowered to $135 from $137 at Evercore ISI