Mass. REIT Breaks Ground On $500M Alexandria Center

Law360, New York (October 27, 2011, 5:39 PM EDT) -- Alexandria Real Estate Equities Inc. has broken ground on its $500 million, 1.73-million-square-foot science and technology campus in Cambridge, Mass., in preparation for drug manufacturer Biogen Idec Inc.'s 2013 move into the first of five buildings, the real estate investment trust said Thursday.

The 11-acre Alexandria Center will rise in the heart of Cambridge's Kendall Square, and will be built specifically to complement the area's “innovation cluster,” which includes the Massachusetts Institute of Technology, GlaxoSmithKline PLC, Novartis AG and Abbott Laboratories, among others.

"Global biopharmaceutical companies...
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