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the building and location, and each has long-term leases. As a result, neither the owner nor broker intends to move.

475 Virginia Drive Property Description:

  • Ownership: HRPT/HUB Properties Trust

  • Contact: David Campoli (manager)

  • Parcel Size: 5.97 acres

  • Building Size: 76,008 square feet

  • Current Use: Office

  • Current Tenants: IRI Information Resources, First Managed Care Option/Active Care

  • Assessed Value: $8,775,000

475 Virginia Drive, owned by HUB Properties Trust, is located at the corner of Delaware Drive and Virginia Drive in the severely flood-prone central portion of the FWOP and will be in the 25-year floodplain once the dams are complete. The manager agrees that flooding is a nuisance in the FWOP in general, but that no water has reached the building at 475 Virginia during any recent events. He reports that nothing major has happened to his buildings since 2001. Because of the excellent location, no major incidents, and no complaints from tenants, HUB Properties Trust wishes to keep its building at 475 Virginia Drive.

135 Commerce Drive Property Description:

  • Ownership: 135 Commerce Inc.

  • Contact: Mike Bixler, Manager

  • Parcel Size: 7.10 acres

  • Building Size: 144,908 square feet

  • Current Use: Auto Parts Distribution Center/Warehouse

  • Current Tenants: B&I Auto Supply

  • Assessed Value: $2,952,750

471 Pennsylvania Avenue Property Description:

Ownership: Elliott and Andrew Goldstein Contact: Same Parcel Size: 0.92 acres Building Size: 4,720 square feet Current Use: Car Wash Current Tenants: Clean Machine Car Wash

Assessed Value: $450,740

135 Commerce Drive is a large single-story warehouse building located behind 515 Pennsylvania Avenue. While the property is just outside the existing 100-year floodplain, the property will be in the 50-year floodplain after the dams are built. We attempted to contact the manager of B&I Auto to discuss future plans, but were unable to make contact. As a result, we will assume that the owner intends to remain at the current location until we can further inquire.

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


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