SEVERE WX : Winter Storm Warning - Winter Weather Advisory View Alerts

Oregon State University buys building for $19.8 million

Oregon State University decided to purchase a new building to be used for biological and chemical science research. The university hopes to integrate industry, academic research, and start-ups within the space.

Posted: Apr 18, 2018 7:00 AM

CORVALLIS, Ore.--Oregon State University decided to purchase a new building on Research Way, two miles southwest from the center of campus. It will be a hub for biological and chemical science research. 

OSU will purchase the 103,000-square-foot building for $19.8 million. The university hopes to integrate industry, academic research, and start-ups within the space. 

“This is a unique opportunity to buy a building in Corvallis that is equipped for scientific research,” said Steve Clark, Oregon State’s Vice President of University Relations and Marketing. “And it is much more cost-efficient compared to constructing a new building.”

The two current tenants, including SIGA Technologies, will continue to occupy space in the building. Oregon State expects to bring in an estimated $1.6 million in revenue over the next five years from leases with tenants and existing cell towers on the property.

Article Comments

Eugene
Overcast
50° wxIcon
Hi: 49° Lo: 47°
Feels Like: 50°
Corvallis
Few Clouds
47° wxIcon
Hi: 49° Lo: 44°
Feels Like: 43°
Roseburg
Scattered Clouds
48° wxIcon
Hi: 51° Lo: 47°
Feels Like: 48°
North Bend
Overcast
54° wxIcon
Hi: 52° Lo: 48°
Feels Like: 54°
KEZI Radar
KEZI Temperatures
KEZI Planner

LATEST FORECAST