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| Groundwater Contamination
and Real Estate Investment Risk Author: Thomas O. Jackson Start Page: 115 Abstract: The
market for commercial and industrial real estate can be impacted by the
risks and uncertainty associated with environmental contamination. This
research addresses environmental risk perceptions through a national survey
of commercial and industrial real estate investors, and compares the results
to a similar survey of lenders. Key findings are: perceived risk declines as
cleanup plans for contaminated properties are approved, cleanup begins and
is completed; lenders perceive greater risk than investors before, during
and after cleanup; prior experience with contaminated properties generally
decreases perceived risk; and strong market conditions mitigate perceived
risk while weak conditions tend to exacerbate these perceptions.
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