No, that is helpful. That's a hard question to answer because it's pretty -- would be pretty granular for me to understand when I'm looking at leasing reports remembering what is expiring today versus in the future. So we have added a lot of high-quality assets to our portfolio in recent years as well as coming online here over the next two to three years. And where could equity play into that? I'll end with some commentary on our value harvesting and recycling progress. Continued innovation in medicine is an absolute national priority and the transformative work of our tenants in the industry is critical to addressing the massive unmet medical need. Thanks Peter. I'm curious as to what you've committed to in terms of development spending. And those, as you go back about $100 million of that was excluded from FFO per share. WebJoel Marcus is professor of New Testament and Christian origins at Duke Divinity School. And so, we're pretty aware. To be clear, in the process of developing novel medicines, there will always be some that fail no matter what the market conditions. And so, a combination of settling in on activity this quarter, as well as our continued outlook for the remainder of the year, so slight improvement overall. And again, going back to the crux of your question, Steve, almost all that change in the tenancy was retail related at that shopping mall. Marcus teaches New Testament with an emphasis on the Gospels and the context of That is an initiative to bring computer modules and computer science education to every single New York City public school student by 2025. Pasadena, California-based Alexandria is the only publicly traded, pure-play office/laboratory REIT. However, Alexandria has an immense advantage with its long-term relationships with large, industry-leading companies, many of which are revolutionizing the biotech sector. We chose not to win the Britannia assets came for sale quite a number of years ago and in those days, HCP bought that, I think, almost $3 billion, we valued at about $1.7 billion. The upside for us is that 84% of our costs for our active development and redevelopment projects are under GMP or other fixed contracts with contingencies behind that. And for the most part, Rich, for the most part, those are either 100% leased projects or multi-tenant projects, most of which have some level of pre-leasing. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American, Alexandria Real Estate Equities, Inc. Reports: 1Q23 Net Income per Share - Diluted of $0.44; and 1Q23 FFO per Share - Diluted, As Adjusted, of $2.19, Alexandria Real Estate Equities, Inc. Named One of Most Trustworthy Companies in America by Newsweek. So we feel good about it, and we'll keep an eye on things as we go through the next two quarters. Will you highlight Alexandrias commitment to building a diverse workforce? Please go ahead. Yeah. Some private and preclinical clinical stage companies are making do with the space they have today until they can better understand their ability to raise capital on its cost. The next question comes from Anthony Paolone with JPMorgan. Joel S. Marcus We beat guidance and we raised guidance. Those are all 100% pre-leased projects. Nearly 80% of that space is pre-leased or under negotiation, Marcus says. As you know, Alexandria is truly a one-of-a-kind S&P 500 company. We have a lot of agriculture technology (agtech) initiatives coming up in the pipeline, which reflects an evolution in our mission. Entitlements are important. If you look at us today, we'd say, well, let's think carefully about site work given cost of capital considerations with the macro environment today, and let's just hold on that until the right time. We started this whole life science real estate niche with the purpose of helping to solve human diseases. The overarching larger vertical is real estate the infrastructure and collaborative campuses that we build to support entities like life science and ag companies. So, we've been able to absorb that. And rumor sometimes when you're dealing with public companies, you have to -- sometimes we have confidentiality agreements, sometimes we don't. But that was really a handful of leases over the last couple of quarters. But maybe the thing to say is companies that are active are pharma -- and I think Peter alluded to this, bigger biotech product and service companies that aren't so much focused on the manufacturing side or the supply side. Alexandria Real Estate Equities, key financial backer for The S&P 500 investment-grade rated REIT boasts an asset base of approximately 74 million square feet. The report and its 30-plus case studies feature REIT leadership and ESG innovation from a variety of sectors and serves as a tool to assess the scale and impact of the REIT industrys ESG commitments and initiatives. You can name a dozen cities.. [Operator Instructions] [Operator Instructions]. Life science, meanwhile, has moved from being a niche segment to mainstream real estate. He was named one of Real Estate Forums 2017 Best Bosses in commercial real estate and was previously a recipient of the EY Entrepreneur Of The Year Award (Los Angeles Real Estate). Joel S. Marcus | National September 11 Memorial & Museum [1], In 1993, one of the partners of Jacobs Engineering Group, Jerry M. Sudarsky, was presented with a Business Plan written by Kendell R. Lang titled BioProperties Management Group, Inc., which was a plan to form a REIT dedicated to funding biotech properties. WebMarcus founded Alexandria Real Estate Equities, Inc., or Alexandria Real Estate, a publicly traded real estate investment trust, and currently serves as Executive Chairman after previously serving as its Chairman since May 2007, Chief Executive Officer since March 1997 and a director since its founding in 1994. I saw that I guess in the last supplemental, you talked about sort of dealing with 1,000 tenants. Joel Even now, many office buildings in the country are 30% to 40% occupied.
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