Alexandria Acquires 500 Townsend Site

SAN FRANCISCO—Alexandria Real Estate Equities, Inc. says that an affiliate has acquired a 1.23 acre site at 500 Townsend Street. This AAA location at the intersection of Alexandria’s Mission Bay science and technology campus and the South of Market (“SoMa”) technology district provides Alexandria with a unique opportunity to strategically expand its Mission Bay cluster and capture strong demand for this submarket from prospective client tenants looking for a collaborative, 24/7, live/work/play environment, as well as the ability to successfully recruit and retain best-in-class talent.The acquisition of the 500 Townsend Street site, one of the highest-quality substantial development parcels in SoMa, reinforces Alexandria’s strong emphasis on capital allocation in the epicenter of the world’s most desirable urban real estate markets. The site is ideally located at the corner of Townsend and Sixth Streets, placing it within close proximity to public transportation.