|By PR Newswire||
|September 4, 2014 04:05 PM EDT||
PASADENA, Calif., Sept. 4, 2014 /PRNewswire/ -- Alexandria Real Estate Equities, Inc. (NYSE: ARE), an approximately $9.3 billion total market capitalization real estate investment trust uniquely focused on clustering Class A assets in urban science and technology campuses located in the heart of centers of innovation, today announced a strategic partnership with Uber Technologies, Inc., including the acquisition of two key parcels in the Mission Bay submarket of San Francisco, located at 1455 and 1515 Third Street, as well as approximately 425 existing parking spaces, plans, permits and piles, in the heart of this world-class science and technology cluster. These key parcels, which Alexandria had previously sold to salesforce.com in 2010, will support a total of approximately 422,980-rentable-square-feet (RSF) of new, ground-up, Class A facilities. Alexandria and Uber's strategic partnership will bring best-in-class partners together in a collaborative joint venture (owned 51% by Alexandria and 49% by Uber) to develop the approximately 422,980 RSF for Uber as it expands its corporate headquarters in San Francisco in conjunction with a 15-year lease for the entire project. This joint venture affirms the cluster's position as a first-class destination at the cross-section of science and technology, as well as Alexandria's long-standing reputation as the leading provider of high-quality urban campuses for the world's most innovative companies.
The acquisition of the 1455 and 1515 Third Street parcels reinforces Alexandria's strong emphasis on capital allocation in the epicenter of the world's most desirable urban real estate markets. With ideal proximity to SoMa, Mission Bay is home to the renowned University of California, San Francisco (UCSF) campus, as well as Alexandria's thriving science and technology cluster of world-class companies at the forefront of innovation. Notably, the cluster was also recently selected to house the future Golden State Warriors stadium, which will feature a state-of-the-art, 18,000-seat sports and entertainment arena, as well as a 5 ½-acre waterfront park. This new spectacular cultural destination will debut in the 2018-2019 NBA season, further enhancing Mission Bay as a 24/7, live/work/play environment and an unparalleled destination to recruit and retain top talent. The 1455 and 1515 Third Street sites represent a meaningful and high-quality expansion of Alexandria's existing and fully leased one million RSF Mission Bay campus and will allow the company to continue enhancing its overall urban science and technology campus strategy in a AAA location.
"In 2005, when we commenced the commercial development of Mission Bay, UCSF's Genentech Hall was our only neighbor," said Joel S. Marcus, Chairman, Chief Executive Officer and Founder of Alexandria. "Since then, the cluster has experienced tremendous growth and has become a remarkable urban innovation center featuring significant and meaningful investments in UCSF hospitals and over 2.5 million RSF of research and related facilities, thousands of residential units, high-quality retail, and the new Warriors' stadium. With the announcement of our strategic partnership with Uber at our campus, Mission Bay will continue to be one of the dominant clusters worldwide and a model for all to follow."
"The initial vision for our Mission Bay campus was to integrate the world-class science of UCSF and the San Francisco Bay Area with the technological innovation of SoMa," said Steve Richardson, Chief Operating Officer and Regional Market Director-SF Bay Area at Alexandria. "Our original name for the campus was appropriately, the Alexandria Center for Science and Technology, and Uber's decision to expand its corporate headquarters at our campus will further realize the integration of Mission Bay and SoMa."
This iconic campus environment, ideally situated within the highly innovative and urban Mission Bay ecosystem and adjacent to the Warrior's new stadium, provides a unique advantage for recruitment and retention of world-class talent. The parcels are fully entitled with Proposition M office allocation approvals. This fully entitled status has become a precious and valuable attribute in the City of San Francisco, and the parcels' value are further enhanced by completed permit sets ready for each facility. Alexandria's deep and broad entitlement, design, and development expertise and experience, as well as credible and respectful long-term relationships with key San Francisco governmental agencies, have enabled Alexandria to successfully develop its approximately one million RSF Mission Bay campus in the City of San Francisco that is now approximately 100% leased to high-quality client tenants. Since its founding in 1994, Alexandria has established a dominant market presence in the top urban innovation centers, including San Francisco, Greater Boston, New York City, Seattle, and San Diego. Alexandria is known for its high-quality and diverse client tenant base with approximately 52% of the company's total annualized base rent resulting from investment-grade client tenants (an industry-leading percentage). Alexandria has a proven track record of developing Class A, urban science and technology campuses in AAA locations offering highly creative amenities that drive client tenant productivity and foster innovation, providing access to sophisticated capital and talent, and gathering its longstanding and expansive network for collaborative conferences and events.
About Alexandria Real Estate Equities, Inc.
Alexandria Real Estate Equities, Inc. (NYSE:ARE) is the largest and leading REIT uniquely focused on collaborative science and technology campuses in urban innovation clusters, with a total market capitalization of approximately $9.3 billion as of June 30, 2014, and an asset base of 31.4 million RSF, including 17.9 million RSF of operating and current value-creation projects, as well as an additional 13.5 million RSF in future ground-up development projects. Alexandria pioneered this niche in 1994 and has since established a dominant market presence in AAA locations including Greater Boston, the San Francisco Bay Area, San Diego, New York City, Maryland, Seattle, and Research Triangle Park. Alexandria is known for its high-quality and diverse client tenant base, with approximately 52% of total ABR resulting from investment-grade client tenants (a REIT industry-leading percentage). Alexandria has a longstanding and proven track record of developing Class A assets clustered in urban science and technology campuses that provide its client tenants with highly collaborative, 24/7, live/work/play ecosystems, as well as the critical ability to successfully recruit and retain best-in-class talent and enhance productivity. We believe these advantages result in higher occupancy levels, longer lease terms, higher rental income, higher returns, and greater long-term asset value. For additional information on Alexandria, please visit www.are.com.
SOURCE Alexandria Real Estate Equities, Inc.
Things are changing so quickly in IoT that it would take a wizard to predict which ecosystem will gain the most traction. In order for IoT to reach its potential, smart devices must be able to work together. Today, there are a slew of interoperability standards being promoted by big names to make this happen: HomeKit, Brillo and Alljoyn. In his session at @ThingsExpo, Adam Justice, vice president and general manager of Grid Connect, will review what happens when smart devices don’t work togeth...
Jan. 17, 2017 12:21 PM EST
"Avere Systems is a hybrid cloud solution provider. We have customers that want to use cloud storage and we have customers that want to take advantage of cloud compute," explained Rebecca Thompson, VP of Marketing at Avere Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jan. 17, 2017 12:15 PM EST Reads: 6,225
SYS-CON Events announced today that Dataloop.IO, an innovator in cloud IT-monitoring whose products help organizations save time and money, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Dataloop.IO is an emerging software company on the cutting edge of major IT-infrastructure trends including cloud computing and microservices. The company, founded in the UK but now based in San Fran...
Jan. 17, 2017 12:15 PM EST Reads: 2,429
SYS-CON Events announced today that Linux Academy, the foremost online Linux and cloud training platform and community, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Linux Academy was founded on the belief that providing high-quality, in-depth training should be available at an affordable price. Industry leaders in quality training, provided services, and student certification passes, its goal is to c...
Jan. 17, 2017 11:45 AM EST Reads: 1,899
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Jan. 17, 2017 11:45 AM EST Reads: 4,170
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in Embedded and IoT solutions, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 7-9, 2017, at the Javits Center in New York City, NY. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/Big Data, HPC and E...
Jan. 17, 2017 11:45 AM EST Reads: 5,700
The unique combination of Amazon Web Services and Cloud Raxak, a Gartner Cool Vendor in IT Automation, provides a seamless and cost-effective way of securely moving on-premise IT workloads to Amazon Web Services. Any enterprise can now leverage the cloud, manage risk, and maintain continuous security compliance. Forrester's analysis shows that enterprises need automated security to lower security risk and decrease IT operational costs. Through the seamless integration into Amazon Web Services, ...
Jan. 17, 2017 11:30 AM EST Reads: 1,741
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
Jan. 17, 2017 11:15 AM EST Reads: 535
IoT is at the core or many Digital Transformation initiatives with the goal of re-inventing a company's business model. We all agree that collecting relevant IoT data will result in massive amounts of data needing to be stored. However, with the rapid development of IoT devices and ongoing business model transformation, we are not able to predict the volume and growth of IoT data. And with the lack of IoT history, traditional methods of IT and infrastructure planning based on the past do not app...
Jan. 17, 2017 11:15 AM EST Reads: 436
In his session at DevOps Summit, Tapabrata Pal, Director of Enterprise Architecture at Capital One, will tell a story about how Capital One has embraced Agile and DevOps Security practices across the Enterprise – driven by Enterprise Architecture; bringing in Development, Operations and Information Security organizations together. Capital Ones DevOpsSec practice is based upon three "pillars" – Shift-Left, Automate Everything, Dashboard Everything. Within about three years, from 100% waterfall, C...
Jan. 17, 2017 10:45 AM EST Reads: 9,392
Fact is, enterprises have significant legacy voice infrastructure that’s costly to replace with pure IP solutions. How can we bring this analog infrastructure into our shiny new cloud applications? There are proven methods to bind both legacy voice applications and traditional PSTN audio into cloud-based applications and services at a carrier scale. Some of the most successful implementations leverage WebRTC, WebSockets, SIP and other open source technologies. In his session at @ThingsExpo, Da...
Jan. 17, 2017 10:30 AM EST Reads: 2,728
In the next five to ten years, millions, if not billions of things will become smarter. This smartness goes beyond connected things in our homes like the fridge, thermostat and fancy lighting, and into heavily regulated industries including aerospace, pharmaceutical/medical devices and energy. “Smartness” will embed itself within individual products that are part of our daily lives. We will engage with smart products - learning from them, informing them, and communicating with them. Smart produc...
Jan. 17, 2017 10:30 AM EST Reads: 1,622
Due of the rise of Hadoop, many enterprises are now deploying their first small clusters of 10 to 20 servers. At this small scale, the complexity of operating the cluster looks and feels like general data center servers. It is not until the clusters scale, as they inevitably do, when the pain caused by the exponential complexity becomes apparent. We've seen this problem occur time and time again. In his session at Big Data Expo, Greg Bruno, Vice President of Engineering and co-founder of StackIQ...
Jan. 17, 2017 10:30 AM EST Reads: 7,689
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
Jan. 17, 2017 10:00 AM EST Reads: 5,741
Containers have changed the mind of IT in DevOps. They enable developers to work with dev, test, stage and production environments identically. Containers provide the right abstraction for microservices and many cloud platforms have integrated them into deployment pipelines. DevOps and containers together help companies achieve their business goals faster and more effectively. In his session at DevOps Summit, Ruslan Synytsky, CEO and Co-founder of Jelastic, reviewed the current landscape of Dev...
Jan. 17, 2017 09:30 AM EST Reads: 4,066