Divestiture Of 1.6 M SF Of Manufacturing and Warehouse Space Requires Due Diligence Documentation
Issue: After thirty years, Huish Detergents was looking to divest two of its three manufacturing facilities that had been in operation since the late 1980s and early 1990s. This divesture included the need for due diligence evaluation of the facilities and associated properties. Between the two properties located in Tennessee and Kentucky, the evaluation included over 1.6 million square feet of manufacturing, warehousing, and office space as well as over 119 acres of real estate. Both sites were located within industrial parks.
Approach: A thorough walk through of each facility was performed for the purpose of understanding the operations, use, manufacturing, and disposal practices of the facilities. Outdoor areas, as well as interior areas of operation were observed and documented. Phase I Environmental Site Assessment (ESA) reports were developed for each individual site. Reports were accepted without the need or request for revision.
Tasks: Phase I ESA activities included:
- In-depth interviews with owners, managers, and regulatory officials
- Review of public documents at both local and federal agencies
- Review of regulatory and historical documentation for the sites and surrounding area
- Thorough walk through of the facilities focusing on areas of chemical use, storage, and manufacture
Project Timeline: Within two weeks
Result: Based on our information, Huish Detergents was able to provide due diligence documentation detailing the observed condition of the properties and it is our professional opinion that no further investigation appeared warranted for either site.