How did Alexandria Real Estate Equities come to dominate life science real estate in top U.S. cities?
Joel Marcus is passionate about his work. As CEO and founder of Alexandria Real Estate Equities (ARE), he runs the only publicly traded REIT focused exclusively on the biotech and life science sector. We asked Marcus for a quick take on what sets his firm apart.
WHY DO YOU FOCUS ONLY ON THIS SPECIFIC SECTOR?
When we founded Alexandria Real Estate Equities, there was no other real estate company out there in the early ‘90s able to buy, own, manage and redevelop properties for the world’s leading life science and biotech firms. The reason was there was a tremendous lack of knowledge in this niche for constructing highly complicated buildings that these firms needed for R&D. Also, developers were hesitant to take on risky client tenants. We founded ARE on the belief that life science and tech companies are most successful whe