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Groundwater Contamination and Real Estate Investment Risk

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  • Thomas Jackson

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.

Suggested Citation

  • Thomas Jackson, 2005. "Groundwater Contamination and Real Estate Investment Risk," Journal of Real Estate Practice and Education, Taylor & Francis Journals, vol. 8(1), pages 115-131, January.
    • Handle: RePEc:taf:rjrpxx:v:8:y:2005:i:1:p:115-131
    DOI: 10.1080/10835547.2005.12091614
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