Image courtesy of Google Maps

Life science developer Alexandria Real Estate Equities is finding new opportunities for growth in Cambridge industry epicenter with an agreement to buy the One Charles Park and One Rogers Street office buildings for $815 million and convert them to lab space.

The acquisition, expected to close in December, includes two buildings containing 400,000 square feet of office space. In an SEC filing, Alexandria said it will pursue approval for additional development at the property, located next to the Cambridgeside property which is being redeveloped by New England Development.

Alexandria said it’s in negotiations with several life science companies for 100-percent of the space, and projects initial occupancy in 2023.

“This acquisition provides a key expansion to our mega campus strategy in our Cambridge submarket, the premier life science market in the world,” Alexandria stated in the filing.

Alexandria characterized the new properties as an extension of its Alexandria Center at Kendall Square, a 425,000-square-foot portfolio on Binney Street.

Alexandria estimates it will spend a total $2.1 billion on acquisitions for the rest of 2021, and has 3.1 million square feet of leases and letters of intent under negotiation for developments expected to begin in 2021 and 2022. The Pasadena, California-based REIT has 4 million square feet of development under construction and another 3.6 million square feet expected to break ground in 2021 and 2022.