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A properly developed due diligence
program can yield significant cost savings to buyers in terms of
liabilities avoided and adjustments to a particular transaction if
information from the due diligence investigation is used properly
and in the early stage of the transactional process.
DUE DILIGENCE FOR INDUSTRIAL
PROPERTY
 |
Inspection Today ---
Sunday, February 5, 2012
report on your desk next week |
Whether you are an owner, manager, buyer, bank or
attorney we work with you to
design and conduct a cost-effective due diligence strategy to
achieve your two main goals:
- Minimize legal, financial and business risk
- Maximize investor value
If you're working with foreclosed or
otherwise distressed property or any property where your due diligence
period is short,
contact us. We can provide fast
turnaround to meet your needs.
this
page contains information on industrial building and property
inspection and environmental assessment
We're
the only source you need for every building inspection and
environmental assessment service that you need. Whether you're
buying your first building or you own or manage dozens of
buildings all over the country we'll provide prompt response,
consistent quality and personal accountability of a senior staff
inspector.
Due
Diligence Industrial Building Inspection
Due Diligence Inspection & Assessment Services Industrial
Building
& Property Inspection protocol
includes:
- Structure – concrete, steel and wood
components
- Building envelope – roof and sidewalls
including windows and doors
- Interior finishes – floors, walls and
ceilings
- Heating, ventilation and air conditioning
- Electrical system and components
- Plumbing system and fixtures
- Fire Suppression and life safety systems
-
Landscaping including walks, drives, parking
areas and planted areas
- Storm water drainage
The
initial concern to be addressed is current condition.
The inspector is called on to investigate, assess and
report on the condition of all structural components and all
operating systems. The inspector also walks the property looking for signs of
hazards or hazardous conditions on the subject property and on
adjoining properties.
Inspection
Report
The
secondary concern of the Inspection is to assist you in planning
for operating costs by forecasting required structural and
equipment maintenance routines and schedules.
The inspector will estimate remaining useful life of major
components and discuss the two replacement strategies which are to
replace items when they cease to be functional or to schedule
replacement in advance. The
latter is helpful when failure of a building component would
disrupt operations, damage equipment or inventory or make the
building or a portion of the building uncomfortable or unfit for
occupancy.
With
information obtained on-site and research as necessary, the inspector
documents the inspection
to accomplish the following objectives:
- Report
on the condition and adequacy of the structural and operating
systems
- Estimate
the remainder of serviceable life expectancy
- Determine
the need for immediate and near-term repair and replacement
- Forecast
maintenance and service routines
- Recommended
upgrades for reduced cost and improved efficiency.
CALL FOR INFORMATION
To order contact our Senior Inspector directly
Call Edward Devine at (585) 738-5080
You can also request
a quote by e-mail and we'll respond promptly.
Qualifications
Our
Senior Inspector has university degrees in architecture and
engineering, post-university training in industrial building
inspection and over 25 years continuous experience in all
disciplines. While an architect, engineer and inspector will see
a building in similar but different ways, Mr. Devine is uniquely
qualified to view a building through all three perspectives. You
are assured of a thorough inspection and detailed
report.
We have more than 25 years experience inspecting all
types of real estate: commercial
and industrial
buildings including apartment,
condominium and other residential property and office, call
center, warehouse, distribution, manufacturing, hotel,
motel, restaurant and club, bank, retail,
mall, plaza gas station and automotive
service and more and we adjust our protocol
to meet the specifics of each property type and to meet the
requirements of investors, buyers, sellers, owners and property
managers; real estate investment trusts; municipalities; attorneys;
brokers, bankers and other lenders insurance companies.
Flexibility
Our
Due Diligence Industrial Building Protocol
is designed
to be flexible enough to provide you with all the information you
need based on your purpose for the inspection and whether you plan
own, manage or lease the property.
Due
Diligence Environmental Assessment
Complete Information at Phase
1 Environmental Assessment
Liability
Issues
Since
the enactment of the Comprehensive Environmental Response Compensation
and Liability Act (CERCLA) in 1980, the commercial real estate
industry has had to deal with the harsh reality that a current owner
or operator of a contaminated property could be held responsible for
cleanup of the contaminated property - regardless of whether it had
anything to do with causing the contamination. Congress enacted the
Superfund and Reauthorization Act (SARA) amendments to CERCLA in 1986
to provide liability protection to innocent landowners who unwittingly
purchased contaminated property.
Commercial
real estate purchasers can now also be insulated from liability by the
provisions of the Comprehensive Environmental Response Compensation
and Liability Act (CERCLA). The
act provides the following protections:
-
Bona Fide
Prospective Purchaser Protection
-
Innocent Landowner Protection
-
Contiguous Property Owner Protection.
In order to qualify for
any of these
defenses commercial real estate purchases must perform what EPA calls
All Appropriate Inquiry (AAI). As
a practical matter purchasers are not able to perform AAI functions as
required by CERCLA and they transfer their responsible to an
Environmental Professional who performs AAI as part of a
complete Phase
1 Environmental Assessment.
When the Assessment is correctly and fully completed by an
Environmental Professional the purchaser may apply for CERCLA
liability protections should they ever be necessary.
End
of Lease Considerations
Sellers and tenants vacating a property at the
end of a lease both want to establish the environmental condition when
they leave as protection against future claims. It is common in
questions of environmental liability for claims to be made against
current and former owners or occupants and a Phase
1 Environmental Assessment
Report provides the information your attorney needs to
establish an effective defense.
Industrial Building and Property Inspection and Phase
1 Environmental Assessment are indicated for:
-
Purchase
-
Sale
-
Sale/Leaseback
-
Lease
-
Asset
Management
-
Financing
-
Refinancing
Quality
and Confidentiality
Lifespace Corporation has 25 years environmental assessment
experience on all types of real estate: commercial and industrial
buildings including apartment,
condominium and other residential property and office, call
center, warehouse, distribution, manufacturing, hotel,
motel, restaurant and club, bank, retail,
mall, plaza call center, gas station and
automotive service plus land
including vacant
land, agriculture
land, ranch
land and forestry
land. We serve investors, buyers, sellers,
owners, property managers, municipalities, attorneys, brokers, bankers and
other lenders and insurance companies.
Your report is confidential to you. We will issue a reliance
letter to your lender upon request.
Ordering
Information To
order please contact our Senior Inspector directly.
Call Edward Devine at (585) 738-5080.
You can also request
a quote or other information by e-mail and we'll respond promptly.
Benefits
to Sellers
Property owners routinely obtain Phase
1 Environmental Assessment prior to placing a property on the
market. The benefits of this strategy include the opportunity to
obtain competitive bids to correct any defects and adjust the offering
price to account for any deficiencies. In addition, time delays
caused by renegotiation and lender requirements and the possibility of
a failed sale can all be avoided when environmental assessment is
completed prior to the property being listed for sale.
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