Monday, April 12, 2010
At what point will the truth about the commercial real estate market blossom? By this, I refer to the "hidden Brownfields" that lenders and property owners of closed industrial facilities are sitting on. With so many vacancies in shopping centers, corner gas stations, and manufacturing buildings, certainly there is only so much time that can go by before it becomes public knowledge the extensive number of contaminated properties that are out there. There has been some talk on changing environmental brownfields regulations for handling these many sites. And just who will be responsible for those properties that have been foreclosed? What are your thoughts about the brownfield talks? What are your thoughts of how banks are handling the environmental (or lack of it) on commercial properties?