Lease of Industrial Property that was radioactively contaminated

Oct 01, 1995

OUTCOME: Execution of a 10-year triple net lease with one executed 5-yr renewal

My client owned a building that was located on land that was contaminated with radioactive materials that dated back to the WWII Manhattan Project. The US Govt was remediating the contamination over a ... multi-year period. My client wanted to lease the building to an industrial user. There was no danger to occupants so long as the grd on which the building sat was left undisturbed. In addition to the usual comm'l lease provisions, we had to include all sorts of provisions dealing with the contamination, repairs that might involve ground disturbance, "added" costs incurred by the T because of the existence of the contamination and a 250+ page environmental site plan exhibit. Lease negotiations took several years.