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Updated over 10 years ago on . Most recent reply

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332
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Pavel Sakurets
  • Investor
  • Minneapolis, MN
74
Votes |
332
Posts

I'm buying 40000 sq ft commercial contaminated warehouse. Has anyone dealt with contaminated commercial building before?

Pavel Sakurets
  • Investor
  • Minneapolis, MN
Posted

According to existing owner the site needs 500k in decontamination. But I would double it just being on the safer side. I'm doing Env Phase 1 and will be doing Phase 2 afyer phase one.

Main concerns that 4 gov agencies: MN pollution control, mn dept of agriculture, the City of Mpls and Hennepin county will send me some work orders for site clean up after I buy the building and it will cost me more $.

I know that I will be requesting a letter of release from liabilities from MN Polution control and no one at 3 other Gov agencies was not able to give me a clear answer what work orders will they require me to do after I purchse the property. Has anyone ever done anything like that?

Most Popular Reply

User Stats

760
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345
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Derek Carroll
  • Syndicator and Fund Manager
  • Victor, NY
345
Votes |
760
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Derek Carroll
  • Syndicator and Fund Manager
  • Victor, NY
Replied

@Pavel Sakurets the environmental studies should clearly spell out what needs to be done. Once you complete the remediation you should be able to get a "no further action" letter. 

I would check with all the intetested agencies that once you do the full remediation as required by the environmental studies and obtain this letter that they will be satisfied and not impose any other requirements. Also be sure to ask questions to the engineer about what the process is with the local agencies that you mentioned. 

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