CREVE COEUR, Mo. – The German-based pharmaceutical and tech company Bayer announced it will market a portion of its Creve Coeur campus and invest $100 million in local office space and labs.
Bayer announced on Wednesday that it will sell around 90 acres of its Creve Coeur campus while investing $100 million into the rest of this campus and its Chesterfield research facility.
Bayer’s Creve Coeur location is at the southeast corner of Olive and Lindbergh Boulevard and includes 14 buildings and spans 838,000 square feet.
Bayer said in a statement that the investment will go toward new labs, greenhouses, and office space at their Chesterfield campus.
According to our partners at the Post-Dispatch, this strategy will allow the conglomerate to better utilize its real estate space while reducing debt and addressing its rising cost of litigation.
The company has spent billions of dollars in settlements for lawsuits associated with the weed killer company Roundup.
“Ultimately, these changes will help accelerate our growth, enable us to drive value for our farmer customers and position Bayer for long-term success,” said Shannon Hauf, Senior Vice President and Head of North America, Australia, and New Zealand Product Supply in a statement. “We are excited to be part of this vibrant and growing epicenter for ag tech and research in the St. Louis region.”
