Holiday sale

I just learned that the old Pfizer site in Ann Arbor will be purchased by the University of Michigan for the bargan basement price of $108 million. The 174 acre site includes almost 2 million square feet of laboratory and administrative space in 30 buildings. (Per square foot that is less than what our house cost 25 years ago.) The facility was state-of-the-art when Pfizer shut it down last year.

In contrast, Pfizer is just completing a new 330,000 square foot research building here in St. Louis. (It is the grey-roofed building in this drawing by the architecture/engineering firm in charge.)

It's cost? $200 million.