Alexandria Real Estate Equities, Inc. announced that ARIAD Pharmaceuticals Inc. signed a 15-year lease with the company's affiliate for 244,000 square feet in Alexandria Center at Kendall Square in Cambridge, Mass. ARIAD will lease 63% of the total 386,000 square feet of rentable area of Alexandria Center's 75/125 Binney St. building.

ARIAD's new headquarters will open by the start of 2015. Alexandria will fund the development beginning in 2013 on a leverage-neutral basis.