Alexandria RE Equities Finishes Decking the Halls of $500 Million Center for Life Science-New York City

SUGAR LAND--December 9, 2010--Reported by Annette Kreuger, Industrial Info Resources (Sugar Land, Texas)--Everyone likes a gift that keeps on giving, and that is what New York City is hoping the newly completed Alexandria Center for Life Science will turn out to be. Developed by Alexandria Real Estate Equities Incorporated (NYSE:ARE) (Pasadena, California) and originally tagged the East River Science Park, the $500 million project is the first phase a life science park specifically designed to foster scientific, entrepreneurial and commercial collaboration.

In a coup for the city, cancer drug company Imclone Systems, which is a division of Eli Lilly & Company (NYSE:LLY) (Indianapolis, Indiana), snapped up 90,000 square feet of space in the center to house its new headquarters and research space.