EXHIBIT 99.3
ALEXANDRIA REAL ESTATE EQUITIES, INC.
Class A/A+ Development and Redevelopment Properties: Current Projects
The following tables set forth a summary of our new Class A/A+ development and redevelopment properties under construction and pre-leased/negotiating near-term projects as of June 30, 2023:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Property/Market/Submarket | | | | Square Footage | | Percentage | | Occupancy(1) |
| Dev/Redev | | In Service | | CIP | | Total | | Leased | | Leased/Negotiating | | Initial | | Stabilized |
| Under construction | | | | | | | | | | | | | | | | | | | | |
| 2023 stabilization | | | | | | | | | | | | | | | | | | | | |
| 140 First Street/Greater Boston/Cambridge/Inner Suburbs | | Redev | | 329,713 | | | 78,546 | | | 408,259 | | | 100 | % | | | 100 | % | | | | 2Q23 | | | 2023 |
| 201 Brookline Avenue/Greater Boston/Fenway | | Dev | | 451,967 | | | 58,149 | | | 510,116 | | | 98 | | | | 98 | | | | | 3Q22 | | | 2023 |
| 751 Gateway Boulevard/San Francisco Bay Area/South San Francisco | | Dev | | — | | | 230,592 | | | 230,592 | | | 100 | | | | 100 | | | | | 2023 | | | 2023 |
| | | | 781,680 | | | 367,287 | | | 1,148,967 | | | 99 | | | | 99 | | | | | | | | |
| 2024 stabilization | | | | | | | | | | | | | | | | | | | | |
| 325 Binney Street/Greater Boston/Cambridge/Inner Suburbs | | Dev | | — | | | 462,100 | | | 462,100 | | | 100 | | | | 100 | | | | | 2023 | | | 2024 |
| 15 Necco Street/Greater Boston/Seaport Innovation District | | Dev | | — | | | 345,995 | | | 345,995 | | | 97 | | | | 97 | | | | | 2023 | | | 2024 |
| 840 Winter Street/Greater Boston/Route 128 | | Redev | | 28,534 | | | 139,680 | | | 168,214 | | | 100 | | | | 100 | | | | | 2024 | | | 2024 |
| 230 Harriet Tubman Way/San Francisco Bay Area/South San Francisco | | Dev | | — | | | 285,346 | | | 285,346 | | | 100 | | | | 100 | | | | | 2024 | | | 2024 |
| 4155 Campus Point Court/San Diego/University Town Center | | Dev | | — | | | 171,102 | | | 171,102 | | | 100 | | | | 100 | | | | | 2024 | | | 2024 |
| 1150 Eastlake Avenue East/Seattle/Lake Union | | Dev | | — | | | 311,631 | | | 311,631 | | | 99 | | | | 99 | | | | | 2023 | | | 2024 |
Alexandria Center® for Advanced Technologies – Monte Villa Parkway/Seattle/Bothell | | Redev | | 282,494 | | | 178,129 | | | 460,623 | | | 82 | | | | 82 | | | | | 1Q23 | | | 2024 |
| 9820 Darnestown Road/Maryland/Rockville | | Dev | | — | | | 250,000 | | | 250,000 | | | 100 | | | | 100 | | | | | 2024 | | | 2024 |
| 9810 Darnestown Road/Maryland/Rockville | | Dev | | — | | | 192,000 | | | 192,000 | | | 100 | | | | 100 | | | | | 2024 | | | 2024 |
| 9601 and 9603 Medical Center Drive/Maryland/Rockville | | Redev | | 48,516 | | | 47,395 | | | 95,911 | | | 100 | | | | 100 | | | | | 4Q21 | | | 2024 |
| 9808 Medical Center Drive/Maryland/Rockville | | Dev | | — | | | 95,061 | | | 95,061 | | | 37 | | | | 55 | | | | | 2023 | | | 2024 |
| 6040 George Watts Hill Drive, Phase II/Research Triangle/Research Triangle | | Dev | | — | | | 88,038 | | | 88,038 | | | 100 | | | | 100 | | | | | 2024 | | | 2024 |
| 8800 Technology Forest Place/Texas/Greater Houston | | Redev | | 46,434 | | | 84,331 | | | 130,765 | | | 36 | | | | 36 | | | | | 2Q23 | | | 2024 |
| | | | 405,978 | | | 2,650,808 | | | 3,056,786 | | | 92 | | | | 93 | | | | | | | | |
| | | | 1,187,658 | | | 3,018,095 | | | 4,205,753 | | | 94 | | | | 94 | | | | | | | | |
| 2025 and beyond stabilization | | | | | | | | | | | | | | | | | | | | |
| 99 Coolidge Avenue/Greater Boston/Cambridge/Inner Suburbs | | Dev | | — | | | 320,809 | | | 320,809 | | | 36 | | | | 36 | | | | | 2024 | | | 2025 |
500 North Beacon Street and 4 Kingsbury Avenue/Greater Boston/ Cambridge/Inner Suburbs | | Dev | | — | | | 248,018 | | | 248,018 | | | 85 | | | | 85 | | | | | 2024 | | | 2025 |
| 40, 50, and 60 Sylvan Road/Greater Boston/Route 128 | | Redev | | — | | | 515,273 | | | 515,273 | | | — | | | | — | | | | | 2024 | | | 2026 |
| Other/Greater Boston | | Redev | | — | | | 453,869 | | | 453,869 | | | — | | | | — | | | | | 2024 | | | 2025 |
| 1450 Owens Street/San Francisco Bay Area/Mission Bay | | Dev | | — | | | 212,796 | | | 212,796 | | | — | | | | — | | | | | 2024 | | | 2025 |
| 651 Gateway Boulevard/San Francisco Bay Area/South San Francisco | | Redev | | — | | | 300,010 | | | 300,010 | | | 15 | | | | 22 | | | | | 2023 | | | 2025 |
| Canada | | Redev | | 32,992 | | | 217,798 | | | 250,790 | | | 73 | | | | 73 | | | | | 2023 | | | 2025 |
| | | | 32,992 | | | 2,268,573 | | | 2,301,565 | | | 24 | | | | 25 | | (2) | | | | | | |
| | | | | | | | | | | | | | | | | | | | |
| | | | 1,220,650 | | | 5,286,668 | | | 6,507,318 | | | 69 | % | | | 70 | % | | | | | | | |
(1)Initial occupancy dates are subject to leasing and/or market conditions. Stabilized occupancy may vary depending on single tenancy versus multi-tenancy. Multi-tenant projects may increase in occupancy over a period of time. (2)These projects are focused on demand from our existing tenants in our adjacent properties/campuses and will also address demand from other non-Alexandria properties/campuses. |
| | | | | | | | | | | | | | | | | | | | |
Class A/A+ Development and Redevelopment Properties: Current Projects (continued)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Property/Market/Submarket | | | | Square Footage | | Percentage | | | | | | |
| Dev/Redev | | In Service | | CIP | | Total | | Leased | | Leased/Negotiating | | | | | | |
| Near-term projects expected to commence construction in the next three quarters | | | | | | | | | | | | | | | | | | | | |
| 2025 and beyond stabilization | | | | | | | | | | | | | | | | | | | | |
| 401 and 421 Park Drive/Greater Boston/Fenway | | Redev/Dev | | 111,294 | | | 392,011 | | | 503,305 | | | 10 | % | | | 10 | % | | | | | | | |
| 11255 and 11355 North Torrey Pines Road/San Diego/Torrey Pines | | Dev | | — | | | 309,094 | | | 309,094 | | | 100 | | | | 100 | | | | | | | | |
| 10931 and 10933 North Torrey Pines Road/San Diego/Torrey Pines | | Dev | | — | | | 299,158 | | | 299,158 | | | 100 | | | | 100 | | | | | | | | |
| 4135 Campus Point Court/San Diego/University Town Center | | Dev | | — | | | 426,927 | | | 426,927 | | | 100 | | | | 100 | | | | | | | | |
| | | | 111,294 | | | 1,427,190 | | | 1,538,484 | | | 71 | | | | 71 | | | | | | | | |
| Total | | | | 1,331,944 | | | 6,713,858 | | | 8,045,802 | | | 70 | % | (1) | | 70 | % | | | | | | | |
| | | | | | | | | | | | | | | | | | | | |
(1) Decline from 72% as of 1Q23 results from the inclusion of our near-term project at 401 and 421 Park Drive in our Greater Boston market. Refer to exhibit 99.2 for additional information regarding this project. Excluding this addition, our total current and near-term projects expected to commence construction in the next three quarters are 74% leased as of July 13, 2023.
