Importance of Early Environmental Due Diligence in Commercial Real Estate Transactions

Concern over environmental contamination and the potential health hazards it poses to the public is on the rise. Federal and state regulation efforts have stepped up, and new chemicals of concern are posing new and unanticipated problems. Now more than ever, prospective commercial real estate buyers need to take steps to protect their interests from incurring liability for environmental issues. On the buyer side, this means early assessment of the environmental conditions at, beneath, and adjacent to the commercial site they are considering for purchase.