Alexandria Real Estate Equities Signs 421,000 Square Foot Space to Roche

Alexandria Real Estate Equities

, the leading owner, operator, and developer of high-quality, sustainable real estate for the broad and diverse life science industry, is honored to announce that Roche Holding Ltd will establish its new Translational Clinical Research Center (TCRC) at the Alexandria Center for Life Science – New York City. The TCRC will be the mission-critical presence for Roche Pharma Research and Early Development (pRED) in the United States. Located in the heart of the East Side Medical Corridor, the Alexandria Center for Life Science will provide Roche with critical adjacency to New York City's nine major academic medical centers and its numerous ongoing clinical trials in a thriving environment purposely built for life science collaboration and innovation. Roche has signed an 11-year lease and anticipates moving its TCRC team to the approximately 421,000 square foot West Tower of the Alexandria Center for Life Science, which is expected to be delivered in 4Q 2013. "We are very pleased with the selection of the Alexandria Center for Life Science as this will be a strategically important site for Roche," said Mike Burgess, M.D., Acting Global Head, Roche Pharma Research and Early Development. "We looked at several great properties in New York and New Jersey and selected the Alexandria Center for Life Science for its unique location as well as the dynamic, vibrant, and thriving scientific atmosphere it offers. For Roche research, having the TCRC located in the Alexandria Center for Life Science will be a critical element in helping us maintain the high caliber of scientific excellence within Roche pRED, carry out our long-term strategic research vision, tap into scientific expertise, and find new and innovative ways to move the drug development process forward." Roche's decision to relocate to New York City will allow its TCRC to build upon and enhance connections to key stakeholders in the U.S., maintain interactions with the Food and Drug Administration (FDA), and enhance collaborations with U.S.-based partners. Employees of the TCRC will be responsible for leading global early development programs and clinical trials, as well as developing strategy and implementing translational research programs focused on disease understanding and the development of potential new medicines. "We are honored that Roche, our longtime client tenant in the San Francisco Bay Area, has selected the thriving New York City life science cluster and the Alexandria Center for Life Science as its platform to substantially enhance its collaboration and translational efforts," said Joel S. Marcus, Chairman, Chief Executive Officer, and Founder of Alexandria Real Estate Equities, Inc. "Roche's move is the latest in the trend of biopharmaceutical companies establishing a mission-critical presence in New York City in order to collaborate with the large concentration of first-class academic medical centers along the East Side Medical Corridor. A strategic presence in New York City enables more rapid translation of 'bench to bedside' therapies in key areas of oncology, neuroscience, cardiology, immunology, and virology with the result of substantially reducing the economic cost to society of these devastating illnesses."