Alexandria Real Estate (ARE) announced that AstraZeneca (AZN) is investing $300M in a next-generation cell therapy manufacturing facility at 9950 Medical Center Drive on the Alexandria Center for Life Science – Shady Grove mega campus in the Rockville submarket. Last year, AstraZeneca executed a 13-year lease term for the entire 84,264 RSF Class A+ property, which runs through June 30, 2036. Since 2007, Alexandria has provided AstraZeneca with essential and integrated manufacturing, laboratory and adjacent nontechnical infrastructure that currently aggregates nearly 417,000 RSF on campuses across its Maryland, Greater Boston and New York City clusters. The purpose-built facility at 9950 Medical Center Drive will support AstraZeneca’s mission-critical biomanufacturing of T-cell therapies for its clinical trials in oncology and the future commercial supply of its broader pipeline of cell therapies.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on ARE:
- Alexandria Real Estate Launches $1 Billion Senior Notes Sale
- Alexandria Real Estate files automatic mixed securities shelf
- Alexandria Real Estate initiated with a Buy at Deutsche Bank
- Alexandria Real Estate reports Q4 AFFO $2.28, consensus $2.29
- Alexandria Real Estate options imply 2.6% move in share price post-earnings
