Wednesday, March 31, 2010

Former Reading brownfield ready for end users

Al Neyer, Inc. and Grubb & Ellis West Shell Commercial Realtors have been hired by the City of Reading to market the former Nivision-Weiskopf property to life science and research and development companies.

The city's Life Science Expansion Project, located on 14 acres at 601 Third Street, is being offered by both companies for $100,000 per acre, with a minimum purchase of two acres.

For its part, the city plans to meet with the three life science firms located in the nearby 59-acre Reading Life Science Complex – Patheon Pharmaceuticals, Girindus America, and the University of Cincinnati Metabolic Diseases Institute – to determine their possible needs for expansion, or to see if any of their suppliers might be a good fit.

Those three businesses account for more than 1,000 high-tech jobs.

The site was formerly used for the manufacture of glass bottles and corrugated boxes. Following environmental assessments in 2005 and 2006, hazardous building residuals, asbestos, underground fuel tanks and contaminated soils were removed.

The last of the property's buildings was removed in June 2008.

At buildout, the city anticipates approximately 150,000 square feet of new laboratory and office space, up to 300 new jobs, and an annual payroll of between $15 million and $20 million.

Previous reading on BC:
Public input sought on Nivison-Weiskopf cleanup (12/15/08)
All Nivison-Weiskopf buildings demolished (6/10/08)
Reading denied EPA grant for Nivison, still seeking funds (4/25/08)
Reading to accept bids for Nivison-Weiskopf demolition (11/7/07)
Reading: Demolition of the Nivison-Weiskopf factory (3/20/07)