Agricultural technology giant Bayer CropScience has laid the groundwork for future expansion at Research Triangle Park with its acquisition of 70 acres.
Bayer CropScience, a subsidiary of German conglomerate Bayer, has been steadily expanding at its RTP campus, which is home to its North American headquarters as well as the global headquarters of its seed business. The company opened a $20 million, 60,000-square-foot greenhouse in RTP in July and announced earlier this month that it would build a 6,600-square-foot Bee Care Center next year.
"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 CEO Jim Blome said in a statement.
Company spokeswoman Becca Hogan said in an e-mail that the company has no definitive plans for developing the site.
Mathias Kremer, head of the company's global seeds business, said in an interview last month that the company's vision for its RTP campus includes the possibility of constructing a second high-tech greenhouse and a new research-and-development building for the seed business.
Bayer CropScience acquired the land, which is located at the intersection of T.W. Alexander Drive and N.C. 147 north of its current campus, from the Research Triangle Foundation. The company has 500 workers in RTP and 140 in Morrisville and Clayton.
The purchase price wasn't disclosed.
The deal leaves the foundation with about 530 acres available to sell in RTP, as well as another 370 acres currently on the market or about to come on the market that is being sold by companies, according to Liz Rooks , executive vice president. In addition, most sites aren't fully developed, giving companies the option to eiter expand on their existing property or sell off tracts of land in the future.