7/6/2016 | By Sarah Borchersen-Keto
Alexandria provides real estate for the life science and technology industries. The company is active in the San Francisco Bay area, Boston, San Diego, New York and Seattle markets, among others.
Moglia said the job of communicating Alexandria’s specific business niche to potential investors has become easier as its product has become more accepted in the marketplace. At the same time, brokers are increasingly tracking statistics in the sector, which has “made it a lot easier for people to validate what we’ve been telling them,” he said.
Meanwhile, demand for space from the life science and technology industries remains “very healthy,” according to Moglia.
“We’re currently tracking about 7 million square feet of demand in the markets that we operate in, largely driven by [Cambridge, Massachusetts], San Francisco and San Diego,” he said.
Looking forward, Moglia said the company has a number of developments that will be finished in 2017 and 2018.
“We’ll deliver about $125 million in net operating income (NOI) as soon as those are completed, and that’s going to increase our NOI at a clip of about 22 percent over where we are right now. A lot of people are going to be impressed by that NOI growth,” Moglia said.