CREVE COEUR, Mo. — A local developer has purchased 95 acres of the Bayer campus in Creve Coeur, with plans for a mixed-use development.
Edwardsville-based private equity firm Fireside Financial bought the property at 10300 Olive Blvd. in September from Bayer, which said in February it would offer the western part of its campus for sale. The property, west of Lindbergh Boulevard and south of Olive, was purchased by Fireside affiliate 10300 Olive LLC for an undisclosed price, a spokesman said.
Fireside is partnering with Jack Matthews Development for site development of the western campus. Jack Matthews, also based in Edwardsville, is a development firm led by Matt Pfund, a Fireside spokesman said.
The developers want to build a master-planned development with a mix of multifamily, townhouses, hotels, retail and repurposed office space, according to a news release.
Amenities for the development include green space and a greenway that will connect with the proposed 39 North Greenway system.
The budget is still being developed for the Bayer campus project, the spokesman said. Any plan would need to be approved by the city of Creve Coeur.
Hearth Construction will provide construction oversight, according to the release. St. Louis-based L3 Corp. represented 10300 Olive LLC in the purchase and will also lease the project. Financing was secured by Northmarq Capital. Although developer Pier Property Group was originally part of the development group that had the property under contract with Fireside Financial, Pier is no longer involved, the spokesman said.
“Fireside Financial is pleased to add 10300 Olive Blvd to its portfolio and looks forward to working alongside the City of Creve Coeur to bring this unique site to life for the residents and visitors of Creve Coeur,” Fireside Financial said in a statement.
Germany-based Bayer acquired the campus when it bought Monsanto for $65 billion in 2018. The firm said in February that due to lower demand for office space post-pandemic, the company requires less real estate.
Bayer’s North American crop science division is headquartered on the now-smaller campus, east of Lindbergh.
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