When Joel Marcus, a trained accountant and biotech industry lawyer, started lab real estate giant Alexandria Real Estate Equities in the 1990s, the sure bet many see in biotech wasn’t visible to many. The company’s first leases in San Francisco charged lab tenants just $6 per SF. Now, the REIT’s average tenant pays just shy of $70.
Image: Courtesy of Alexandria Real Estate Equities Alexandria Real Estate Equities Chairman Joel Marcus
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