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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported) MAY 9, 2000
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ALEXANDRIA REAL ESTATE EQUITIES, INC.
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(Exact Name of Registrant as Specified in Charter)
MARYLAND 1-12993 95-4502084
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(State or Other Jurisdiction (Commission (IRS Employer
Of Incorporation) File Number) Identification No.)
135 NORTH LOS ROBLES AVENUE, SUITE 250, PASADENA, CALIFORNIA 91101
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (626)578-0777
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N/A
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(Former Name or Former Address, if Changed Since Last Report)
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ITEM 5. OTHER EVENTS.
The Registrant announced in a press release dated May 9, 2000 that it
has signed three, 10-year lease agreements (the "Lease Agreements") with Merck &
Co., Inc. and that the Lease Agreements take effect immediately. Further
information regarding the Lease Agreements is contained in the press release,
which is attached hereto as Exhibit 99.1.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
Items (a) and (b) are inapplicable.
(c) Exhibits.
Exhibit 99.1 Press release issued by the Registrant, dated May 9, 2000.
SIGNATURE
Pursuant to the requirements of the Securities and Exchange Act of
1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
Alexandria Real Estate Equities, Inc.
Date: MAY 15, 2000 By: /s/ PETER J. NELSON
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Name: Peter J. Nelson
Title: Chief Financial Officer and
Senior Vice President
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EXHIBIT 99.1
[LOGO] [LETTERHEAD]
Contact: Joel s. Marcus Rhonda Chiger
Chief Executive Officer Senior Managing Director
Alexandria Real Estate Global Consulting
Equities, Inc. Thomson Financial Investor Relations
(626) 578-0777 (212) 510-9280
ALEXANDRIA REAL ESTATE EQUITIES SIGNS LEASE AGREEMENTS
WITH MERCK & CO. FOR THREE BUILDINGS IN SAN DIEGO.
PASADENA, CA - May 9, 2000 - Alexandria Real Estate Equities, Inc (NYSE:
ARE) today announced that it has signed three, 10-year lease agreements with
Merck & Co., Inc. for a three building cluster, comprising approximately
166,000 square feet, in the Torrey Pines hub of San Diego's life science
community. These buildings will house Merck Research Laboratories, which is
the discovery and development foundation of Merck & Co.
"We are proud that Merck, a top tier, multi-national pharmaceutical
company and an industry leader, has selected three ARE properties in which to
house the nucleus of its research and development efforts in San Diego," said
Jim Richardson, President of Alexandria Real Estate Equities. "The
convergence and clustering of the life science and information technology
industries has further elevated the central San Diego county area as a
destination for world class technological innovation. The addition of Merck
to the San Diego community and the length of its commitment to our premier
location enhances the development of the life science sector as well as
Alexandria's market position."
The three buildings included in the leases are 3535 General Atomics
Court, comprising approximately 76,000 square feet; 3550 John Hopkins Court,
which contains approximately 55,000 square feet; and 3530 John Hopkins Court,
comprising approximately 35,0000 square feet. The leases commence
immediately.
ARE owns and operates 12 buildings, totaling approximately 635,000
square feet of office and laboratory space in the San Diego technology hub
(excluding two properties under renovation). With the addition of Merck to
its life science tenant base, ARE's vacancy rate in San Diego is
approximately 1.9%, which is lower than office industry standards for the
region. Merck joins ARE's broad and diverse family of tenants in San Diego
including Idec Pharmaceuticals Corp., Agouron Pharmaceuticals, Inc.
(Warner-Lambert Co.), The Scripps Research Institute, Collateral
Therapeutics, Inc., Amylin Pharmaceuticals, Inc., Arena Pharmaceuticals,
Inc., Structural GenomiX and Nereus Pharmaceuticals, Inc.
(more)
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"We are very proud of the platform and franchise we have built in the
San Diego market, aligning first class properties and locations with high
quality tenants and their leading edge technologies," said Joel S. Marcus,
Chief Executive Officer of Alexandria Real Estate Equities. "The San Diego
technology cluster is one of the more prominent centers of scientific
excellence in the United States and we are pleased to be part of the growing
technological development in this market."
Alexandria Real Estate Equities, Inc., is a publicly traded real estate
operating company focused principally on the ownership, operation, management,
acquisition, conversion, retrofit, expansion and selective development and
redevelopment of properties containing office and laboratory space. Such
properties are designed and improved for lease primarily to pharmaceutical,
biotechnology, diagnostic, device, contract research and personal care
products companies, major scientific research institutions, related
government agencies and technology enterprises. Alexandria's portfolio
currently consists of 61 properties comprising approximately 4.3 million
square feet of office and laboratory space.
THIS PRESS RELEASE CONTAINS FORWARD-LOOKING STATEMENTS WITHIN THE MEANING
OF THE FEDERAL SECURITIES LAWS. THE COMPANY'S ACTUAL RESULTS MIGHT DIFFER
MATERIALLY FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS.
ADDITIONAL INFORMATION CONCERNING FACTORS THAT COULD CAUSE ACTUAL RESULTS TO
DIFFER MATERIALLY FROM THOSE IN THE FORWARD-LOOKING STATEMENTS IS CONTAINED IN
THE COMPANY'S PERIODIC REPORTS FILED WITH THE SECURITIES AND EXCHANGE
COMMISSION.
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