(If You Are Looking to Buy a Commercial Property) Investing in commercial real estate can be risky. Returns on the investment are dependent upon the constantly changing real estate market, natural hazards, loan terms, and/or the success of tenants, to name a few. One of the biggest risks can be related to the potential for environmental liabilities related to a property. Environmental liability can have enormous financial ramifications for an owner, and can feasibly affect the ability to lease or utilize a property. Therefore, environmental due diligence, specifically a Phase I Environmental Site Assessment (ESA), is a critical step in choosing the right property. Investors and users alike may focus…
