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Alexandria Real Estate Equities, Inc., in Partnership With Verily, Leads Design and Development of State-of-the-Art Campus in Support of OneFifteen's Uniquely Comprehensive Model of Care for Opioid Addiction
PASADENA, Calif., June 14, 2019 /PRNewswire/ -- Alexandria Real Estate Equities, Inc. (NYSE: ARE), an urban office REIT uniquely focused on collaborative life science and technology campuses in AAA innovation cluster locations, in partnership with Verily, an Alphabet company, has pioneered a fully integrated campus to house a comprehensive care model providing the full continuum of care for people suffering from opioid addiction while also revitalizing the community. As the strategic real estate partner in this mission-critical initiative, Alexandria is leading the design and development of a state-of-the-art campus for OneFifteen in Dayton, Ohio. The 59,000 RSF campus, situated on 4.3 acres, will include dedicated facilities for rehabilitation, sober living, family reunification and community transition. The campus's spaces for inpatient residential and outpatient clinical care will open this summer, and the full campus is expected to be completed in 2020. Launched earlier this year by Kettering Health Network, Premier Health and Verily, OneFifteen is a novel non-profit ecosystem dedicated to the full and sustained recovery of people living with opioid addiction. Vital to its unique model of care, Verily is integrating a learning health system that aims to address information gaps in addiction treatment.
"Our country is in the midst of a devastating opioid epidemic — the public health issue of our lifetime," said Joel S. Marcus, executive chairman and founder of Alexandria Real Estate Equities, Inc. "At Alexandria, our mission is to advance human health by creating clusters and campuses that enable innovators to cure disease, improve nutrition and enhance the quality of people's lives, and we could not stand idly by in the face of this monumental crisis. This is an extremely heartfelt undertaking for us. We sincerely hope that OneFifteen's distinctive and integrated approach will give people suffering from addiction an opportunity to live healthier, more productive lives and will drive superior outcomes. While the initial focus is on Dayton, OneFifteen is establishing a sustainable program with the potential to act as a model of care for opioid addiction treatment and be replicated by others in communities across our nation."
Unintended overdoses are now the leading cause of death in Americans under 50 years old, with two out of three drug overdose deaths involving an opioid. In 2017, the Centers for Disease Control and Prevention reported that more than 115 people died every day in the United States from an opioid overdose, and that number continues to increase. Alexandria and Verily, along with their partners and community collaborators in the greater Dayton region, are committed to reversing this trajectory. Dayton was selected as the location of OneFifteen due to its having one of the highest per capita overdose death rates in the United States. In recent years, Montgomery County and the City of Dayton have made significant efforts to tackle this issue and reduce overdose deaths. OneFifteen looks to further the community's response to opioid use disorder.
"Addiction touches us all in some way, and I am grateful to be part of the team working to build a campus centered around improving people's lives," said Stephen Pomerenke, vice president of real estate development and design at Alexandria Real Estate Equities, Inc. "Our shared vision with Verily to create an optimal campus environment to address the many unmet needs of people in recovery has guided our design philosophy for the OneFifteen campus. Recognizing that recovery is not a linear path, but a continual process, we have anchored the campus around a curved pathway connecting all of the experiences and elements of the OneFifteen ecosystem."
Today, OneFifteen celebrates its grand opening and ribbon cutting at the first facility on the Dayton campus. During the event, OneFifteen will convene key federal, state and regional government officials and community stakeholders to highlight the significance of this mission-critical endeavor and share the ecosystem's vision to establish a virtuous cycle of recovery where rehabilitated individuals live healthier lives, while contributing to the vitality and well-being of the community.
About Alexandria Real Estate Equities, Inc.
Alexandria Real Estate Equities, Inc. (NYSE:ARE), an S&P 500® company, is an urban office REIT uniquely focused on collaborative life science and technology campuses in AAA innovation cluster locations, with a total market capitalization of $21.8 billion and an asset base in North America of 33.7 million SF as of March 31, 2019. The asset base in North America includes 23.2 million RSF of operating properties and 4.4 million RSF of new Class A properties currently undergoing construction or pre-construction, consisting of 2.1 million RSF of development and redevelopment projects under construction, and 2.3 million RSF undergoing pre-construction activities. Additionally, the asset base in North America includes 6.1 million SF of intermediate-term and future development projects. Founded in 1994, Alexandria pioneered this niche and has since established a significant market presence in key locations, including Greater Boston, San Francisco, New York City, San Diego, Seattle, Maryland and Research Triangle. Alexandria has a longstanding and proven track record of developing Class A properties clustered in urban life science and technology campuses that provide our innovative tenants with highly dynamic and collaborative environments that enhance their ability to successfully recruit and retain world-class talent and inspire productivity, efficiency, creativity and success. Alexandria also provides strategic capital to transformative life science and technology companies through our venture capital arm. We believe our unique business model and diligent underwriting ensure a high-quality and diverse tenant base that results in higher occupancy levels, longer lease terms, higher rental income, higher returns and greater long-term asset value. For more information, please visit www.are.com.
CONTACT: Sara Kabakoff, AVP – Corporate Communications, Alexandria Real Estate Equities, Inc., (626) 788‑5578
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