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555 Virginia Drive Property Description:

  • Ownership: Nesbitt Graphics

  • Contact: Harry Nesbitt III (owner)

  • Parcel Size: 2.14 acres

  • Building Size: 21,048 square feet

  • Current Use: Light Industrial

  • Current Tenants: Nesbitt Graphics

  • Assessed Value: $900,000

555 Virginia Drive was thought to be severely flood-prone, but will be in the 100-year floodplain upon completion of the dams and less of a flood threat than many other nearby properties. Nesbitt Graphics purchased the building 11 years ago. Although they once had subtenants, currently just Nesbitt occupies the building. The owner says that the location is ideal for his employees, but he was concerned about retaining a tenant because of the threat of flooding. He reports that flooding certainly does occur and can be a problem for his business. He says he equipped the building with a system of boarding up the windows in the even of a flood and uses sand bags at the doors to mitigate seepage. He recalls that the worst events were in 1999 (shortly after he moved in) and 2006. He believes the problem is a lack of detention basins in the FWOP and that new development doesn’t require them. The owner says that vacant parcels should be used to create detention basins, including the vacant lot at 375 Commerce Drive. He’s willing to consider moving because of the threat of future flooding, but he’s concerned about the potential restrictions that TDR would place on his business. He needs a single-story building with a loading dock, features that would be unlikely in a new multi-tenant or mixed-use building. He would prefer to be bought out by the Township through eminent domain so he could more freely find another building that suits the specific needs of his business. He also suggests that major landowners in the FWOP like Liberty Property Trust buy out the smaller businesses to increase their holdings in the FWOP. Then they could negotiate TDR with the Township as a single entity to streamline the redevelopment process. In any event, the owner says that moving his business is a consideration if the deal is fair. In fact, he says he’s received offers in the past to sell or swap his property with another owner in the FWOP.

1005 Virginia Drive Property Description:

  • Ownership: First Evergreen Properties LLC

  • Contact: Richard Smith, AVIR Realty (manager/broker)

  • Parcel Size: 8.8 acres

  • Building Size: 87,000 square feet

  • Current Use: Office

  • Current Tenants: Kulicke & Soffa

  • Assessed Value: $6,083,640

1005 Virginia Drive is a large single-tenant building located along the PA Turnpike. The property was thought to be located in the severely flood-prone central portion of the FWOP, but engineering analysis shows that it will have very little threat of flooding upon construction of the dams. The building is managed by AVIR Realty, which manages and owns other properties in the FWOP. The manager reports that the biggest advantages of the FWOP are location, existing infrastructure, and access to two exits of the

Technical Memorandum #1UDT: Characteristics of Flood-Prone Parcels


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