X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ST. LOUIS-Monsanto Co. plans to acquire Chesterfield Village research center for $435 million. The complex, located in Chesterfield, MO is owned by Pfizer Inc. The transaction will close in the first half of 2010.

“This Chesterfield Village Research Center is truly a world-class facility and our agreement with Pfizer will enable both of our companies to maintain our deep research roots in St. Louis for years to come,” says Robb Fraley, Monsanto’s chief technology officer. “The research we do at this facility is the foundation of our business, paving the way for next-generation products that create real benefits on the farm and in our world. This is yet another investment in our ever-growing pipeline, which enables us to deliver new and improved technologies.”

The sale agreement includes the provision that Pfizer will be able to lease space for its biotherapeutic pharmaceutical research. Don Frail, VP of Pfizer, says, “We will continue to partner with Monsanto to ensure high-caliber research is ongoing in St. Louis, and that researchers from both companies will continue to share the Chesterfield Village Research Center.”

In the deal Monsanto gets 1.3 million square feet, throughout 250 laboratories, 122 plant growth chambers and two acres of greenhouses. Before this deal, Monsanto leased more than 400,000 square feet of space in the Chesterfield Village.

The site, according to a release about the deal will “continue to support its robust pipeline, which is focused on increasing agricultural productivity such as drought-tolerant corn and higher-yielding soybeans, and will enable the company to reach its goal of doubling yields in its core crops by 2030.”

The site was originally built in 1984 for $150 million by the former Monsanto Co.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.