Leasing volume of 1.2 million square feet was up 14% versus the prior four-quarter average and up 10% versus the prior eight-quarter average, according to Binda. Occupancy ended 2025 at 90.9%, up 30 basis points sequentially and 10 basis points above the midpoint of prior guidance. Looking ahead, Alexandria reiterated its 2026 same-property NOI outlook of down 8.5% at the midpoint, expected to be driven by lower occupancy. Binda highlighted several first-quarter considerations included in the company’s supplemental package:1.2 million square feet of key lease expirations with expected downtime. About Alexandria Real Estate Equities (NYSE:ARE)Alexandria Real Estate Equities, Inc (NYSE: ARE) is a real estate investment trust specializing in the ownership, development and management of collaborative life science and technology campuses.