Question: Are environmental issues still a concern when buying commercial property?
John C. Koechel: Always, yes. Without speaking too specifically, a buyer always has to worry that it is inheriting any environmental problems from the seller. You almost have to take a very defensive stance that the previous owners of the property won’t be around to deal with any problems that are discovered while the buyer owns the property, and it’s going to be solely on the buyer. So, most commercial buyers start off of what’s known as a “phase one” analysis or test of the property to see if there are any, let’s say, underground storage tanks or anything else that would indicate that further testing is needed. So yes, it’s more vital, I think, for commercial buyers to be aware of the environmental potential problems in or under the property they are buying.