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Alexandria (ARE) Expands Alexandria LaunchLabs in Cambridge

Zacks

Alexandria Real Estate Equities, Inc. ARE is expanding its full-service life science startup platform, Alexandria LaunchLabs. The company will be opening a 20,000 square feet co-working space in Alexandria Center that is located in One Kendall Square, the heart of East Cambridge.

The latest opening, which is scheduled for fall 2018, is the extension of the company’s initial launch that occurred in June 2017 in New York.

The company will be providing cost-effective space with the flexibility of sharing, thus, allowing the smallest companies to rent Alexandria’s place. Further, Alexandria promises to provide high-quality equipment and services, conferencing amenities along with mentorship and programming. A management team will also provide the companies with their expertise and help these companies to grow.

Alexandria has the option of providing funds through Alexandria Seed Capital Platform to the promising companies. The platform is primarily run by Alexandria Venture Investments and supported by other venture capitalists.

Joel S. Marcus, chairman, chief executive officer and founder of Alexandria and Alexandria Venture Investments informed, "Our proven track record of providing first-in-class office and laboratory space to emerging startups and venture-backed companies, as well as our deep expertise in providing funding and accelerating company growth, distinctly positions us to extend the Alexandria LaunchLabs platform into Cambridge."

Such initiatives are likely to provide a solid startup platform for life science companies. This in turn, will drive the demand for life science space in the long run. Given Alexandria’s expertise and strong balance sheet capacity, the company remains well poised to capitalize on the same.

Alexandria currently carries a Zacks Rank #3 (Hold). In the past three months, shares of the company have outperformed the industry. While the stock has edged down 3.4%, the industry has declined 4.5% during this period.

Stocks Worth a Look

A few better-ranked stocks from the same space include Arbor Realty Trust ABR, Extra Space Storage Inc. EXR and Sotherly Hotels Inc. SOHO. All three stocks carry a Zacks Rank of 2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Arbor Realty Trust’s Zacks Consensus Estimate for 2018 FFO per share remained unchanged at 90 cents over the past month. Its shares have returned 2.5% in 12 months.

Extra Space Storage’s FFO per share estimates for the current year moved up 0.9% to $4.59 in a month’s time. Its shares have gained 9.5% over the past 12 months.

Sotherly Hotels’ FFO per share estimates for 2018 remained unchanged at $1.05 over the past month. The stock has gained 11.4% during the past 12 months.

Note: Anything related to earnings presented in this write-up represents funds from operations (FFO) — a widely used metric to gauge the performance of REITs.

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