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January 31, 2018

How The SBA’s Dry Cleaning Requirement Changes Impact Your Due Diligence Considerations

By Marshall Stanclift

DUE TO MAJOR CHANGES IN THE SBA SOP PERTAINING TO DRY CLEANERS, IT IS MORE CRUCIAL THAN EVER TO ENGAGE SERVICES FROM ENVIRONMENTAL PROFESSIONALS.

Dry cleaners are a confounding conundrum in the world of commercial real estate. They generally rent on economical space but generate a lot of business and foot traffic for other establishments. They are considered not just profitable business models, but a critical anchor in a mixed-tenant commercial strip center.

Unfortunately, dry cleaners also pose a significant potential health risk to themselves and neighboring tenants. This is mostly due to historical use of a cleaning solvent called perchloroethylene (PERC), often causing a “dry cleaner headache” for property owners. First introduced to dry cleaning in 1931, demand for this highly effective cleaning agent increased throughout the 1980s and peaked in the 1990s when closed loop machines were introduced.

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Marshall Stanclift

About the Authors

Marshall Stanclift

National Client Manager

Marshall Stanclift has substantial experience in the commercial real estate industry fulfilling the environmental needs of lending institutions across the country. During his tenure, he has partnered with numerous professionals in the industry to assist in the process of financing small businesses. These individuals include SBA and Commercial Lenders, Certified Development Companies, Secondary Market Officers, Real Estate Brokers, SBA Legal Counsel Members and Real Estate Attorneys. With a focus on the Federal Government’s Small Business Administration Programs, Mr. Stanclift has become a reliable resource for lenders seeking up-to-date information relating to the Standard Operating Procedures for SBA’s environmental requirements.

Get in Touch

Marshall Stanclift
(801) 783-2734
[email protected]

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