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September 26, 2007

Yale completes purchase of Bayer complex in West Haven

Yale University has completed its purchase of the 137-acre Bayer HealthCare complex, paying $109 million for the site.

In June when Yale announced it was seeking to buy the complex, Yale officials had said that Bayer's science labs would help Yale attract top scientists and undertake research programs that the university would not have had the space to develop for a decade or more.

The Bayer complex has 1.5 million square feet of space spread among 17 buildings, including manufacturing, lab, warehouse and office space.

Bayer plans to vacate the site next year as part of a corporate restructuring. Yale plans to gradually move into the site, eventually having several thousand workers there.

Yale spokesman Tom Conroy said Tuesday the university is now determining the most effective use of the site.

"The university's continuing its planning for the use of the complex," Conroy aid, noting that some Bayer employees will remain on site into next year. "There's no need to rush to finalize plans."

The site will be used for educational purposes, predominantly medical research, Yale officials have said.

"I'm very excited about it," Mayor John M. Picard said Tuesday. "It's the best thing that could have happened to a very difficult situation."

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