PASADENA, Calif., Sept. 26, 2019 /PRNewswire/ -- Alexandria Real Estate Equities, Inc. (NYSE: ARE), an urban office REIT and the first and longest-tenured owner, operator and developer uniquely focused on collaborative life science, technology and agtech campuses in AAA innovation cluster locations, today announced that it has acquired 3160 Porter Drive, a 92,000 RSF redevelopment project in Stanford Research Park, for $26 million. Alexandria was selected by Stanford University to transform 3160 Porter Drive into a dynamic, intentionally designed innovation center to foster the growth of promising early- and growth-stage life science companies and enable the discovery and development of new treatments and cures that will positively impact human health. Ideally located in the heart of the Stanford Research Park within the greater Stanford innovation cluster at the intersection of life science and technology and in close proximity to the Stanford University campus, renowned hospitals and a diverse mix of innovative companies, 3160 Porter Drive will serve as the flagship anchor of an emerging life science district focused on bioengineering, gene therapies, diagnostics, medical technologies and devices, surgical robotics and digital health.
