Industrial Park Remediation

A commercial property client discovered that a portfolio of properties it acquired included an industrial park where historical releases of degreasing solvents had resulted in a contaminated groundwater plume leading off-site and, as a result, faced significant and uncertain costs and resource impacts.  We advised the client on conducting an investigation to identify responsible parties, used that investigation to bring those parties to the table and negotiated a cost-sharing agreement under which the parties have cooperatively investigated and remediated the site.  Additionally, we coordinated closely with the client’s insurer to obtain coverage for the client’s cost, which minimized the financial impact and allowed the client to focus on leasing the property to commercial tenants and develop a plan for its eventual sale after the remedial work is complete.