ARE - Alexandria Real Estate Equities Inc. Announces Long-Term 99557 RSF Lease With CARGO Therapeutics for Its New Headquarters and R&D Center at the Alexandria Center for Life Science - San Carlos Mega Campus in the San Francisco Bay Area | Benzinga
PASADENA, Calif., Dec. 14, 2023 /PRNewswire/ -- Alexandria Real Estate Equities, Inc. (NYSE:ARE), the first, preeminent, longest-tenured and pioneering owner, operator and developer of collaborative life science, agtech and advanced technology mega campuses in AAA innovation cluster locations, today announced that it has executed a long-term lease with CARGO Therapeutics for 99,557 RSF at 835 Industrial Road on the Alexandria Center® for Life Science – San Carlos mega campus in the San Francisco Bay Area. CARGO anticipates occupying the mission-critical life science space in early 2024.
CARGO, which raised approximately $291 million in its IPO in November 2023, is a clinical-stage biotechnology company focused on advancing its platform technologies and a pipeline of potentially curative, next-generation cell therapies that could lead to better outcomes for cancer patients. The company's move to the Alexandria Center for Life Science – San Carlos mega campus demonstrates the desirability of Alexandria's mega campus platform as well as the essential, reusable and re-leasable nature of its best-in-class Labspace® infrastructure.
The inspiring mega campus was purpose-built to support innovative life science companies, like CARGO, in their critical efforts to recruit and retain world-class talent to advance their life-changing discoveries. In San Carlos, Alexandria has created and operates a vibrant ecosystem with state-of-the-art laboratory space and a highly curated array of amenities, including sophisticated conference and meeting spaces, an expansive courtyard, a contemporary eatery, an artisanal coffee bar and a fully equipped fitness and wellness center. The mega campus, which is conveniently situated between Highway 101 and the San Carlos Caltrain station, provides exceptional access to downtown San Carlos and public transit. With nearly 737,000 RSF in operation today, the site can accommodate approximately 1.4 million RSF of future development opportunities to offer companies a visible path for growth.