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Stradling

Real Estate Investment Firm Successfully Navigates Environmental Contamination Issues in Acquisition of San Diego Properties

Represented a major real estate investment firm in connection with the acquisition of desirable real estate throughout San Diego for redevelopment, one of which had been occupied by a service station with automotive sales and servicing operations for more than 50 years. A portion of this property had a preexisting environmental indemnity from Chevron Corporation, which required transfer and renegotiation, as well as legacy contamination from the automotive servicing operations.

Kristin Larson managed the environmental due diligence process including both Phase I and II investigations, access agreements, amendments to the purchase agreement covering seller responsibilities, obligations and a price reduction. She was able to bracket and control the risk of liability to the client, and obtained cost recovery pursuant to indemnification provisions in a former tenant’s lease.