Bucks County Industrial Space

Bucks County Industrial SpaceWolf Commercial Real Estate is a leading Bucks County commercial real estate brokerage firm that specializes in a full range of Bucks County industrial space for commercial real estate investors, owners, buyers and tenants.

The team of real estate experts at our Bucks County commercial real estate brokerage firm represents all types of available industrial space in Bucks County and the surrounding area, from traditional uses for warehousing and manufacturing to the more complex Bucks County industrial flex space that allows for multiple uses at the same property, such as offices, showrooms, warehousing and more.

At Wolf Commercial Real Estate, we maintain a solid commitment to client-focused relationships.  We are the Bucks County commercial real estate broker that combines the highest quality services with proven expertise in providing ongoing detailed information about available industrial space in Bucks County.  Whether you are in the market to invest, buy, sell or lease Bucks County industrial flex space, Wolf Commercial Real Estate is the Bucks County commercial real estate brokerage firm with the people, the knowledge and the connections you need to close the deal.

For buyers and tenants, Wolf Commercial Real Estate can pinpoint the Bucks County industrial space that best fulfills your precise needs.  We then ensure that the sale or lease terms for your new Bucks County industrial flex space meet the expectations you have for your commercial real estate goals.  Wolf Commercial Real Estate is the Bucks County commercial real estate broker that stands as your partner from the very beginning of the relocation process to the very end, assuring an easy and effortless transition into your new industrial space in Bucks County.

Investors and owners planning to sell or lease their Bucks County industrial flex space will value the defined marketing process we have created to effectively match buyers and tenants with available industrial space in Bucks County.  At  Wolf Commercial Real Estate, we modify our marketing plan to consider the characteristics of each property and sub-market, providing clients and prospects access to a highly successful, proven marketing strategy in the Bucks County industrial space market.  Demand is high for available industrial space in Bucks County.  If you are thinking about selling or leasing your Bucks County industrial flex space, now is the time to act.

For more information about Bucks County industrial space, please contact Wolf Commercial Real Estate, the Bucks County commercial real estate broker that clients and prospects can count on for all their Bucks County commercial real estate needs.

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MINIMIZING RISK IN SELLING OR DECOMMISSIONING INDUSTRIAL PROPERTY UNDER ISRA

Industrial PropertyIn an improving economy, industrial property can change hands frequently. In a declining one, industrial property owners may be forced to wind up operations and close the facility. If you own or intend to purchase or shut down an industrial facility in New Jersey, pay particular attention to the provisions contained in the state’s Industrial Site Recovery Act.

ISRA is a unique environmental law that requires industrial facility owners and operators to investigate and remediate environmentally impacted media prior to the sale, transfer, or decommissioning of certain types of businesses. The thrust behind the law centers on the assumption that such industrial establishments, typically of the manufacturing variety, discharge, intentionally or not, contaminants during their useful life. Thus, before a sale, transfer, or closure, such property should be cleaned up appropriately. While there are exceptions, ISRA generally governs as follows.

ISRA applies to any individual or entity, corporate or governmental, who owns an industrial establishment, owns the real property of an industrial establishment, or operates an industrial establishment in New Jersey. The law only regulates those facilities listed in ISRA’s Appendix C and as defined by the North American Industry Classification System (NAICS) codes therein. Such industrial
establishments falling under ISRA’s purview include those used for chemical manufacturing, hazardous waste treatment and disposal, and utilities, to name a few. In addition, to qualify as an industrial establishment for purposes of ISRA, the business must have operated in the state on or after December 31, 1983 and use and/or store hazardous substances as defined by the state’s Spill Compensation and Control Act.
As the owner or operator of an industrial establishment, the need to comply with ISRA arises after a triggering event. Triggering events include significant changes in ownership or operation, such as business and property sales, cessation of operations, and leases for 99 years or longer. Examples of transactions not subject to ISRA include corporate reorganization not substantially affecting facility ownership, stock transfers, and easement grants. Similarly, portions of solid or hazardous waste facilities and undeveloped or vacant land are not considered industrial establishments for purposes of ISRA.

If a facility is subject to ISRA, and it does not qualify for any of the waivers or exemptions contained therein, the owner or operation must file a General Information Notice within five (5) days of any triggering event. Once notice is made, the owner or operator must conduct an environmental investigation in compliance with New Jersey’s Technical Requirements for Site Remediation,
found at N.J.A.C. 7:26E. At a minimum, a Preliminary Assessment (PA) must be performed by a Licensed Site Remediation Professional (LSRP) to identify any and all Areas of Concern. It should be noted that the scope of a PA differs materially from the American Society for Testing and Materials’ Phase I standard.

As such, if the PA discovers Areas of Concern, a subsequent Site Investigation shall be performed. The Site Investigation will explore the contaminants and determine if such exceed the current remediation standards contained in N.J.A.C. 7:26C. If contaminant levels exceed current standards, a Remedial Action Workplan (RAW) shall be proposed. The LSRP will oversee all remedial investigations and shall deliver a Response Action Outcome (RAO) once the property is deemed to be remediated to current state standards. For establishments undergoing a sale or transfer, an owner or operator must obtain an RAO, or a LSRPcertified RAW, before the transaction. For properties shutting down, an owner or operator must notify NJDEP after closing and submit a RAO or LSRP-certified RAW thereafter.

ISRA does however, allow an owner or operator to transfer ownership without an RAO or RAW in limited circumstances. An owner or operator may submit a remediation certification pursuant to N.J.A.C. 7:26B-3.3(c) instead of a RAO, or the Department can approve a regulated underground storage tank or remediation in progress waiver or a de minimis quality exemption. It should be stressed that both an owner and/or operator are strictly liable, without regard to fault, for compliance with ISRA. An
owner or operator’s failure to comply with ISRA allows a potential purchaser to rescind the sale and recover damages. Thus, it is of great importance, whether you are looking to buy, sell, or shutter an industrial establishment in New Jersey, to contact an attorney experienced in ISRA. The cost of doing business is great, but the cost of non-compliance is even greater.

For more information, please contact:

julie-lavanJulie LaVan, Esq.
New Jersey Office
11 E. Main Street
Second Floor
Moorestown, New Jersey 08057
(o) 856-235-4079
(f) 856-235-4018

michael-kondrlaMichael Kondrla, Esq.
Philadelphia Office
1515 Market Street – Suite 1200
Philadelphia, PA 19102
(P) 215-854-6398
(f) 215-596-0216

Finding Cash Buyers & Private Lenders

Landlord or rehab ears, potential cash buyers need to know you’re committed to making them money. They need to know that they can benefit by working with you, you’ll do all the work and they’ll receive a high return on investment. Look around you there are private lenders everyone, people sitting on money in their bank accounts, if you can convince them that they can make more money investing with you. Both cash buyers and private lenders need to have an established relationship with you, including having trust in you. Just keep pushing the perceived benefits of working with you.

 

Key Takeaways:

  • You need to sell them on the perceived benefits of working with you.
  • Don’t be afraid to ask people for money.
  • Be sure to eliminate the negatives and reinforce the positives in all your marketing materials and push the perceived logical benefits.

“Cash buyers need to fully grasp how working with you will benefit them.”

 

Read full article here

New Apartments Coming to Francisville

Demolition of a row of 19th-century houses in the 1600 block of Poplar Street in Francisville is currently under way to make way for a new, 20-unit apartment development. KREIT is building a row of five four-unit apartment dwellings designed by JKRP Architects. The development will consist of 12 two-bedroom apartments and eight one-bedroom units.

 

Key Takeaways:

  • A new, 20 unit apartment building is coming to Francisville on Poplar Street.
  • Tenants will all have access to an outdoor area, storage, three floors, and a basement.
  • The units are luxury market-rate apartments, with high-end finishes and appliances and a smart home security and entry system.

“KREIT is building a row of five four-unit apartment dwellings designed by JKRP Architects.”

Read full article here