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February 1, 2013

Industrial Properties and Environmental Risk

By Jay Grenfell, LEED AP

INDUSTRIAL IS EXPECTED TO BE HOT IN 2013, AND INDUSTRIAL PROPERTIES OFTEN COME WITH GREATER ENVIRONMENTAL RISK.

The general consensus seems to be that 2013 will be a year with increased investment in commercial real estate and a return to normalcy in the commercial real estate markets. Multifamily was a popular product type in 2012 and was very helpful in driving recovery. Multifamily is sure to continue to be a favored property type in 2013, but office and industrial properties are expected to be attractive asset classes as well. However, unlike multifamily and office, industrial properties are more likely to have environmental liabilities that need to be identified and managed appropriately.

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About the Authors

Jay Grenfell, LEED AP

Jay Grenfell, LEED AP

National Client Manager
Jay Grenfell has over 17 years of experience in the environmental and transactional due diligence consulting industry and has worked in various disciplines, including regulatory compliance, EH&S, asbestos abatement and air monitoring, Tier II reporting, in addition to his core competency in environmental and physical due diligence practices, including Phase I ESAs, Phase II ESAs, Property Condition Assessments (PCAs), and Seismic Risk Assessments (SRAs). His primary area of expertise is in the environmental due diligence field, where he has performed and/or managed thousands of Phase I ESAs and physical diligence projects, including multiple large multi-site due diligence portfolios. Mr. Grenfell currently works as a relationship manager providing consulting services and transactional due diligence solutions to a variety of client types, including banks, insurance lenders, brokers, developers, individual investors, and equity/institutional investors. His experience allows him to provide risk-based solutions with a keen understanding of environmental and physical due diligence risk as it relates to specific stakeholders within a particular transaction. He enjoys assisting his clients in meeting their goals by providing well-documented reports and risk-based solutions that allow his clients to make sound risk management decisions and close deals.

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