Alexandria Real Estate Equities Receives Visionary Award for Developing Moderna’s State-of-the-Art Headquarters

Alexandria Real Estate Equities, a leading owner, operator, and developer of collaborative life science and advanced technology campuses, has been honored with the 2023 Visionary Award by the Cambridge Chamber of Commerce. The award recognizes Alexandria’s exceptional achievement in developing 325 Binney Street, a cutting-edge facility that will serve as Moderna’s new global headquarters and core R&D operations.

The 462,100 RSF Class A+ property, located on the Alexandria Center at One Kendall Square mega campus in Cambridge, is set to deliver in November 2023. It was selected by Moderna for its state-of-the-art design and strategic location, supporting the company’s mission to advance a pipeline of mRNA medicines, including the revolutionary COVID-19 vaccine.

Moderna’s Chief Financial Officer, Jamey Mock, expressed gratitude for the longstanding strategic relationship with Alexandria and highlighted the sustainability features of the new facility. Designed to be the most sustainable laboratory building in Cambridge, 325 Binney Street is targeting LEED Zero Energy, LEED Platinum Core & Shell, Fitwel Life Science, and WiredScore Platinum certifications. The building integrates advanced laboratory spaces with collaborative areas to foster innovation and collaboration.

Alexandria’s commitment to sustainability is evident in the project’s design, which includes a geothermal system and 100% renewable electricity, resulting in an estimated 97% reduction in emissions. The facility also incorporates wellness features such as walking paths and open outdoor areas to promote physical and mental well-being.

In addition to the Visionary Award, Alexandria’s development project is expected to contribute significantly to the company’s annual net operating income starting in the fourth quarter of 2023. The company’s value-creation pipeline is projected to drive future annual incremental NOI of $605 million through the second quarter of 2026.

Hunter L. Kass, Co-President and Regional Market Director of Alexandria Real Estate Equities, expressed pride in the partnership with Moderna and the opportunity to support their groundbreaking work in the fight against COVID-19. The accelerated delivery of 325 Binney Street showcases Alexandria’s commitment to providing world-class infrastructure for innovative companies like Moderna.

Alexandria Real Estate Equities continues to make a positive and lasting impact on the world through its mission-driven approach to developing collaborative life science and advanced technology campuses. With a strong track record of creating dynamic workspaces, Alexandria remains at the forefront of driving innovation and supporting the growth of transformative companies.

For more information about Alexandria Real Estate Equities, please visit www.are.com.