Purchasing commercial or industrial real estate raises serious environmental questions.

• Is the property contaminated?
• What have been the prior uses of the property?
• Are there regulatory agency issues?
• If dumping has occurred and the site is contaminated, are there potential liability claims?

Buyers must resolve several key issues about a site before its acquisition...

• Is the soil and groundwater on the site contaminated from prior use?
• Are asbestos-containing materials present? Must they be removed?
• Must underground tanks be removed or brought into compliance with current regulations?

Sellers and lenders, as well as buyers, should consider their potential liabilities under current federal and state environmental laws and regulations.

Owning a property may carry prohibitive cleanup costs if hazardous waste is discovered.

Under federal and state law, owners may be liable for all or part of the cleanup costs, even if the property was acquired subsequent to the placement of contaminants.

An environmental site assessment provides information that may significantly influence the purchase price, and is strategic in avoiding exposure to liability and business risk and may be required by a lender.

Such exposure may be increased if site contamination is not discovered until after the property has been purchased.

Shifrin & Assocaties, Inc., an environmental engineering firm with years of experience, can address these issues and offer reasonable and timely solutions to environmental concerns.