Purchasers of industrial properties have big dreams! They often want to rejuvenate an old, abandoned or underutilized industrial property into something brand new. This venture is often referred to as Brownfield Redevelopment. Their visions often include brand new buildings such as high-rise residential complexes and elaborate new office towers. Such projects are not for the faint-of- heart! Brownfield redevelopers must proceed with an abundance of caution. Peritus will guide you through this complex process to ensure you do not get “stuck” with one of the many possible environmental issues that can thwart your redevelopment plans.
As an owner of an industrial property, you may be concerned with the impact your property could have on public health or the environment. Or perhaps you need guidance through the myriad of environmental laws and regulations by which you are expected to abide. Peritus has a thorough understanding of the environmental laws and regulations as they apply to various industrial facilities and operations.
If you are looking to purchase or divest a property, Peritus will assist you through a sale agreement as quickly and profitably as possible.
As a tenant or a prospective tenant of an industrial property, your main environmental goal is to ensure you cannot be found liable for contaminating the property. Tenants can insist that the owner conduct abaseline Environmental Site Assessment to determine the condition of the property prior to signing a lease. If desired, the tenant could request another Environmental Site Assessment at the conclusion of the lease. Peritus will ensure that you do not become embroiled in someone else’s nightmare when you are signing a lease of an industrial property. This is especially important if you plan to conduct operations similar to a previous owner or tenant.
People who lend money to owners or potential purchasers of properties have one primary objective – to ensure the collateral is secure. The best way for lenders to achieve this objective is to insist that their client conduct an Environmental Site Assessment before the mortgage is approved. Peritus can conduct an Environmental Site Assessment on which you can base a sound decision to ensure your collateral is secure. There is no reason to let environmental issues be the cause of a bad loan.