We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Alexandria Signs Lease with Pinterest for 88 Bluxome Campus
Read MoreHide Full Article
Alexandria Real Estate Equities, Inc. (ARE - Free Report) recently inked a major lease with social media website Pinterest, Inc. for 88 Bluxome Street redevelopment. Pinterest will serve as the anchor tenant for nearly 490,000 rentable square feet (RSF) at the campus.
This marks the first major lease signed at the project in support of the city’s Central SoMa Plan. Further, with this lease, the project is nearly 60% preleased.
Specifically, the mixed-use development project spans nearly one million square feet of space and is located in the central SoMa neighborhood of San Francisco. The premier campus will offer a distinctive life-science and technology building along with dynamic ground-floor retail space.
Moreover, it will include a community recreation center, an air rights parcel that has been deeded to the city for developing nearly 90 units of affordable housing space and a linear park along the recently improved Bluxome Street, among others.
Also, sufficient outdoor deck spaces throughout the building and a public activity space complement the neighborhood's Gene Friend Recreation Center.
Per management, the well-planned development will help the company address the needs of the SoMa submarket. Management believes that it will spur innovation and job growth in SoMa, thereby revitalizing the neighborhood. Additionally, it enhances Alexandria’s development pipeline of value-accretive projects.
Notably, Alexandria has an active development and redevelopment pipeline with 3.9 million RSF of projects slated for delivery from 2019 through 2020. The delivery of these new Class A properties in AAA locations will likely boost the company’s operating performance.
Over the past three months, shares of this Zacks Rank #2 (Buy) company have rallied 29.2% compared with the industry’s gain of 18.2%.
Terreno Realty’s funds from operations (FFO) per share estimates for first-quarter 2019 remained unchanged at $1.32 over the past month. Further, it has a long-term growth rate of 8.40%.
Cousins Properties’ Zacks Consensus Estimate for 2019 FFO per share has been revised 12.7% upward to 73 cents over the past month. Also, it has a long-term growth rate of 3.2%.
Boston Properties’ FFO per share estimate for the ongoing year has been revised marginally north to $6.92 in 30 days’ time. Additionally, it has a long-term growth rate of 6.20%.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119% and +164% in as little as 1 month. The stocks in this report could perform even better.
Image: Bigstock
Alexandria Signs Lease with Pinterest for 88 Bluxome Campus
Alexandria Real Estate Equities, Inc. (ARE - Free Report) recently inked a major lease with social media website Pinterest, Inc. for 88 Bluxome Street redevelopment. Pinterest will serve as the anchor tenant for nearly 490,000 rentable square feet (RSF) at the campus.
This marks the first major lease signed at the project in support of the city’s Central SoMa Plan. Further, with this lease, the project is nearly 60% preleased.
Specifically, the mixed-use development project spans nearly one million square feet of space and is located in the central SoMa neighborhood of San Francisco. The premier campus will offer a distinctive life-science and technology building along with dynamic ground-floor retail space.
Moreover, it will include a community recreation center, an air rights parcel that has been deeded to the city for developing nearly 90 units of affordable housing space and a linear park along the recently improved Bluxome Street, among others.
Also, sufficient outdoor deck spaces throughout the building and a public activity space complement the neighborhood's Gene Friend Recreation Center.
Per management, the well-planned development will help the company address the needs of the SoMa submarket. Management believes that it will spur innovation and job growth in SoMa, thereby revitalizing the neighborhood. Additionally, it enhances Alexandria’s development pipeline of value-accretive projects.
Notably, Alexandria has an active development and redevelopment pipeline with 3.9 million RSF of projects slated for delivery from 2019 through 2020. The delivery of these new Class A properties in AAA locations will likely boost the company’s operating performance.
Over the past three months, shares of this Zacks Rank #2 (Buy) company have rallied 29.2% compared with the industry’s gain of 18.2%.
Other Stocks to Consider
Investors can also consider other top-ranked stocks from the same space like Terreno Realty Corp. (TRNO - Free Report) , Cousins Properties Inc. (CUZ - Free Report) and Boston Properties, Inc. (BXP - Free Report) . All three stocks carry a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Terreno Realty’s funds from operations (FFO) per share estimates for first-quarter 2019 remained unchanged at $1.32 over the past month. Further, it has a long-term growth rate of 8.40%.
Cousins Properties’ Zacks Consensus Estimate for 2019 FFO per share has been revised 12.7% upward to 73 cents over the past month. Also, it has a long-term growth rate of 3.2%.
Boston Properties’ FFO per share estimate for the ongoing year has been revised marginally north to $6.92 in 30 days’ time. Additionally, it has a long-term growth rate of 6.20%.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119% and +164% in as little as 1 month. The stocks in this report could perform even better.
See these 7 breakthrough stocks now>>