CREVE COEUR 鈥 Global conglomerate Bayer plans to sell part of its campus here while investing $100 million in other local office and lab space.
The company on Wednesday said it will market about 90 acres of its Creve Coeur campus, which includes 14 buildings spanning 838,000 square feet at the southeast corner of Olive and Lindbergh Boulevards. It will maintain the rest of its complex here 鈥 roughly 60 acres 鈥 which serves as the North American headquarters of its crop science division.
In addition, Bayer said it plans to invest $100 million across the remainder of its Creve Coeur site and its Chesterfield research facility, which will include new labs, greenhouses and office space, according to a release.
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The strategy will enable the company to make better use of its real estate while also reducing its debt and addressing its rising cost of litigation. Bayer has spent billions of dollars in settlements for lawsuits associated with Roundup, a weed killer the company inherited when it acquired Monsanto in 2018 for $63 billion.
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鈥淯ltimately, these changes will help accelerate our growth, enable us to drive value for our farmer customers and position Bayer for long-term success,鈥 Shannon Hauf, senior vice president and head of North America, Australia, and New Zealand product supply, said in a statement. 鈥淲e are excited to be part of this vibrant and growing epicenter for ag tech and research in the St. Louis region.鈥
Bayer鈥檚 Creve Coeur campus spanned both sides of Lindbergh and long served as Monsanto鈥檚 headquarters before Germany-based Bayer bought the firm.
In 2022, Bayer sold the western portion of the campus to a local developer, who is planning housing and commercial space there.
The sales flier for the Bayer campus in Creve Coeur
The company said it plans to market the additional 90 acres in September through Tripp Hardin, Mike Hanrahan and Jack Gentile of commercial real estate firm Cushman & Wakefield. Bayer intends to lease eight buildings on a short-term basis.
There is no list price for the property. A Bayer spokesperson said the price will be determined by the offers the company receives.
The listing follows the company鈥檚 plan to slash about 1,500 jobs earlier this year. It鈥檚 not clear how many local jobs were affected by those cuts.
But on Wednesday, Bayer reiterated its commitment to the St. Louis region.
鈥淲e look forward to being part of the business community for many years to come,鈥 Hauf said in a statement.
Bayer withdrew from a state tax incentive program worth tens of millions of dollars. Two months later, the company rolled out a widespread restructuring plan.