Alexandria Sells Asset to Redeploy in Development, Redevelopment Moves

Shares of Alexandria Real Estate Equities, Inc. (ARE) were up more than 2% in Friday’s trading session after the REIT announced the completion of the sale of 1165 Eastlake Avenue East in its Lake Union submarket of Seattle. This was done through an affiliate to the longstanding tenant Fred Hutch Cancer Center (Fred Hutch). The move aligns with the company’s capital recycling strategy.The sale of the single-tenant Class A+ life science facility, encompassing 100,086 rentable square feet (RSF), was carried ou ...