SEATTLE—Alexandria Real Estate Equities, Inc., the largest and leading REIT uniquely focused on collaborative science campuses in urban innovation clusters, hosted a groundbreaking for Juno Therapeutics, Inc. at the Alexandria Center at 400 Dexter Avenue North for Juno's new headquarters and R&D center, situated in the heart of the vibrant Lake Union cluster.

Lake Union is one of the fastest growing science and technology submarkets. Today, Alexandria is developing an approximately 287,000 square foot state-of-the-art laboratory/office building, which Juno will anchor. Juno is leasing 90,000 square feet with expansion options.

"Today we celebrate the groundbreaking for Juno's Headquarters and R&D Center,” said Joel Marcus, chairman, CEO and founder of Alexandria. “At Alexandria, we are honored to strategically partner with Juno, which is pursuing work in the field of cancer immunotherapy which is destined to change the face of cancer treatment. Juno is a leader in one of the most promising technologies in the field of cancer immunotherapy. We are creating an innovative and collaborative space environment for Juno and its fast growing workforce, which will enhance creativity and discovery. Alexandria and Juno have had a special relationship, and we look forward to continuing to work together to realize the promise of bringing such treatments and cures to cancer patients everywhere."

Marcus hosted the groundbreaking ceremony and highlighted the collaborative undertaking that brought this important project to fruition. Marcus was joined onstage by Edward Murray, mayor of Seattle; Maura Little, Washington state director of life sciences and global health development (and representative for Governor Jay Inslee at the groundbreaking); Chris Rivera, president and CEO of the Washington Biotechnology and Biomedical Association; Robert Nelsen, co-founder and managing director of Seattle ARCH Venture Partners; and Hans Bishop, CEO and president of Juno Therapeutics, Inc.

The State of Washington has supported this project with Alexandria and Juno from the very beginning, according to the release from Pasadena, CA-based Alexandria.

Governor Inslee, said in a statement:

"Today's groundbreaking signifies a strengthening of our state's local life science sector. We are a state that is known for its innovation, and the individuals working with Juno have proven that innovation is thriving in Washington State. Congratulations to Juno and its many partners. I look forward to working with this team as an anchor tenant in our community and establishing our state as the global leader in life science innovation and health delivery."

Seattle is home to a cluster of high-caliber, world-class academic and medical centers, foundations, and innovative companies including Amazon, the University of Washington Medical School, the Fred Hutchinson Cancer Research Center, and more. Many of these institutions are focused on global health initiatives and innovative oncology development. The city played an important role in turning this idea into a reality, especially through the unwavering dedication of the Mayor and the Department of Planning and Development.

"The groundbreaking of Juno Therapeutics' new headquarters with Alexandria underscores Seattle's standing as a global hub for biotechnology and life sciences," said Seattle's mayor Murray. "Juno is leading the charge in the revolutionary space of immunotherapy and offers new promise for many cancer patients. I am proud that Seattle will be Juno's home for years to come."

Juno Therapeutics is building a fully integrated biopharmaceutical company focused on revolutionizing medicine by re-engaging the body's immune system to treat cancer. Alexandria Real Estate Equities, Inc., is the largest and leading REIT uniquely focused on collaborative science campuses in urban innovation clusters located in key cities, with a total market capitalization of $11.3 billion as of March 31.

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Groundbreaking Held for Juno Headquarters

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