Commercial Real Estate Case Study

Mr. S owned a manufacturing company in Newark. The company sought representation in the purchase of a commercial building located next to its current building. Phelan, Frantz & Peek was retained to represent the company in the purchase of the new building. The property on which the new building was located had a number of environmental issues that required remediation. The prior owners had a remedial action plan with the NJ Department of Environmental Protection, which had to be transferred to Mr. S’s company. Phelan, Frantz & Peek was able to review the remedial action plan and advise Mr. S of his company’s ongoing obligations as new owners. Phelan, Frantz & Peek also worked closely with the lender to make sure that the matter closed in a timely manner by providing updated corporate resolutions and other corporate documents. Phelan, Frantz & Peek’s experience with small business formation was particularly relevant in helpful in getting this transaction to the closing table.