Alexandria Lines Up Palo Alto and San Carlos Sales After $256MM in Bay Area Write-Downs as Losses Top $2B

Alexandria Real Estate Equities has moved a cluster of vacant Palo Alto offices, a stalled Palo Alto development site and six San Carlos buildings onto the sale block, writing them down by a combined $256.1 million in the third quarter as the life science landlord's string of losses since mid-2025 climbed past $2 billion.