Minimizing Commercial Lease Risks Through Proper Environmental Due Diligence
Lane Powell Shareholder Mike Nesteroff authored an article in the November 2012 issue of the King County Bar Association’s Bar Bulletin titled “Minimizing Commercial Lease Risks Through Proper Environmental Due Diligence.” In the article, Nesteroff discussed commercial lease risks, and minimizing those risks with environmental due diligence. He also discussed negotiating the terms of a lease to include environmental provisions.
As real estate development and leasing begin to emerge slowly from the dark days of the Great Recession, it’s important to remember that environmental considerations should not take a back seat to getting a deal done. In commercial leasing, just as in the purchase-and-sale context, parties disregard or minimize environmental issues at their peril. While there are many good reasons for doing some environmental due diligence, the primary reason can be summed up in five words — joint and several strict liability.