Dry Cleaners Environmental Due Diligence
If you worked on retail property with Dry Cleaner it likely caused a problem in the due diligence process. I have worked on 100s of deals with dry cleaners and they can be the real problem for some. If you get a site with dry cleaner reach out to me I can walk you through the process. If sampling required you looking at $8-12K for sampling and if you find problem you will see cost estimates that exceed $500K. Insurance is difficult due to risk. Then there is vapor and previous sampling to deal with it...again let me know I can help navigate this easily. Also what state is the deal in is big deal for example NC has a fund for cleanups so risks are mitigated easier. FL and TX also have dry cleaning fund programs. CA and NJ are pain to deal with and VA is easy. Reach out to me on next issue dry cleaner or write me I will answer the question.
Lucky, I had no major issues yet. A majority of modem laundromats do the dry-cleaning offsite now.
that is good but the risk can be historical dry cleaning. It may be drop off now but historically if could have been on-site. For example I did a walk through in Florida for site was working for buyer so they want deep dive and it was drop off and tenant said when he bought business it was drop off. I opened the electrical panel and it says dry cleaning machine and boiler and the database records identified records of hazardous waste disposal from the site. Turned out it there was a concern and we did sampling luckily no soil or groundwater issues but we had to mitigate vapor concerns. Cost of Phase II - $10k - Cost to Mitigate vapor $50K and 2 years.
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