Owners of surplus and underutilized properties frequently face the dilemma of wanting to recover value from their sites, while also needing to protect themselves from exposure to the costs and liabilities that can arise while transitioning such properties. Sometimes these properties have actual or perceived contamination that will complicate the decision process, and the default decision is often to maintain status quo by “mothballing” surplus properties.
However, in BBJ Group’s experience, value recovery and risk mitigation are not mutually exclusive, but instead are complementary goals for any surplus property owner who seeks protective, maximal returns. BBJ Group has helped clients by examining problem sites through multiple lenses, and developing exit strategies that minimize holding costs and environmental reserve requirements.
Kevin McCartney, P.G.