April 23, 2016
Soil Testing In The Bay Area: Why It’s So Important
Subsurface Investigations of Bay Area Properties
Whether you’re a real estate developer considering investing in industrial space; or you’re a property manager that wants to protect tenants from environmental hazards, you may want to invest in soil testing and other critical environmental services.
Here are some reasons why:
1. Unearth hidden risks during your due diligence process.
Before you scope a property in-depth, you want to know whether it’s even viable as an investment vehicle. By getting a Phase 1 Environmental Site Assesment, you can determine whether any risks or contaminates exist onsite and make a decision whether it’s worth it to invest in the abatement process or just move onto another opportunity.
2. Engage in clean up effectively and efficiently.
Perhaps an undetermined X Factor has made your tenants sick and you suspect some form of environmental contamination. Perhaps a past tenant spilled benzene products in the back. Or maybe a neighbor deposited waste paint from his art projects, and those chemicals seeped over into your lot. In either case, soil testing can give you the actual diagnosis..
3. Soil testing can prepare you to sell a property.
You don’t want to wind up on the business end of a lawsuit or get stuck wrangling with the buyer after the fact. If you can identify environmental problems early in the process, you can clean them up.
4. Use soil testing to protect yourself from getting hammered by government regulators for violating code.
Depending on the amount of damage, these fines could reach into the hundreds of thousands of dollars if you aren’t careful. It’s always better to be safe than sorry.