Bayer CropScience is making plans for future growth at its North American headquarters by purchasing 70 acres of land from the Research Triangle Foundation.
The acquisition was announced early Thursday.
However, a spokesperson for Bayer said the company had no immediate plans to utilize the property.
“At this time, there aren’t any definitive plans for development of this land,” the spokesperson said. ”However, Bayer CropScience now has the ability to expand its North America headquarters as the need presents itself.”
Asked to disclose the price Bayer paid for the land, the company declined.
“While this information will be of public record, until that time, Bayer CropScience would like to focus on the fact that they now have access to nearly 70 more acres to expand their North America headquarters,” the spokesperson said.
The property at the intersection of T.W. Alexander Drive and NC Highway 147 is north of the current Bayer CropScience campus.
Some of the parcel has been owned since 1958 by the Foundation and the rest by the Foundation since 1985, a spokesperson for RTP said.
“Bayer CropScience is committed to Research Triangle Park as its North American headquarters,” said Jim Blome, Bayer CropScience’s top executive. “With this newly acquired property, we now have flexibility to expand our business and continue to develop innovative agricultural technologies to feed a hungry planet.”
Bayer CropScience has been in the process of expanding the Triangle operation, recently opening a $20 million greenhouse that covers 60,000 square feet.
The Foundation manages the Research Triangle Park.
“Over the years, Bayer CropScience has played an important role in the Research Triangle Park’s research and development community,” said Bob Geolas, the Foundation’s CEO.“The Foundation is happy to support Bayer as it continues to grow its presence and invest in the Park and what it stands for—innovation and economic growth. Biotech remains a focus for many of our companies here in RTP – and leaders like Bayer uphold our reputation as a R&D destination.”