Project Experience What We've Done
Complex Redevelopment and Land Swap
Two industrial sites: commercial photo-processor and machine shop
Client: Two separate buyers and end-users
Complex purchase/land swap/business relocation/redevelopment.
Vieau Associates was retained by a non-profit buyer to complete Phase I/Phase II assessments of a machine shop site targeted for redevelopment by the non-profit. We identified petroleum tanks and minor groundwater impacts at the machine shop site, and developed response action plans and cost estimates for purchase and redevelopment by the non profit. Concurrently, the non-profit had Vieau Associates conduct environmental review of a separate, vacated commercial (not retail) photo processing and printing business site, to be purchased by the non-profit then swapped for the machine shop site; the machine shop would relocate and purchase the vacant photo processing site.
Seller of the photo processing site retained a separate firm to complete Phase I/Phase II assessments of that site; silver impacts to soil beneath a wastewater pit were identified and targeted for cleanup by the seller/photo processor. The machine shop owner then retained Vieau Associates to secure all required regulatory liability assurances for the photo processing site, assist with environmental language in agreements, and complete independent Phase I/Phase II assessments of the photo processing site, including groundwater testing, asbestos and hazardous materials assessment, and sewer inspections (which hadn’t been done by the seller’s consultant).
Completion of inspections, testing, work products and regulatory submittals was driven by the coordinated deadlines for both transactions. The project required Vieau Associates’ sensitive and urgent communications with the real estate professionals, attorneys, and lenders for both purchasing entities, as well as the photo processor/seller’s consultants, and regulatory agency staff. The transactions closed without extensions or institutional controls.