Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NEW YORK CITY-Everything old is new again, and property is no exception. As new development opportunities grow harder to find, developers, buyers and sellers are turning to environmentally contaminated properties for potential revenue in a virtually untapped market. Landauer Realty Group, a division of Grubb & Ellis, has launched a new division to meet client’s environmental needs.

“Environmental factors can turn trophy properties into costly reclamation projects,” says Kenneth Acks, director of environmental valuation and consulting at Landauer Realty Group. “Conversely, knowledge can be leveraged to change environmental nightmares into assets.”

As the population continues to expand, the rehabilitation of contaminated sites will be in increasing demand from both public and private sectors. The US Senate has passed legislation to ease restrictions on rehabilitating the nation’s brownfield sites. If enacted, the law would remove the threat of liability facing owners of contaminated property and stimulate economic investment in brownfield cleanup.

“Global warming, MTBE, soaring energy prices, smart growth, land preservations, brownfield redevelopment and community opposition to projects all will confront real estate developers, buyers, sellers and government policymakers with difficult and costly challenges in the years ahead,” adds Acks.

Landauer’s new division will evaluate problems and identify investment opportunities by advising on buy/sell decisions, appraising for lenders, and analyzing brownfield redevelopment projects and “green” buildings. They will also provide cost benefit analysis, litigation support and testimony, feasibility studies, tax reduction guidance, resolution of NIMBY conflicts, and compliance with governmental accounting requirements.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information

GlobeSt. NET LEASE Awards 2021Event

These awards honor the industry's most influential and knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.