Whether you are entering the commercial real estate market for the first time, or have been a long-term property owner, environmental factors impact the value of your investment. Each business site is individual, usually with a history of human activity. An important way to protect your investment is by determining commercial property risk factors. Researching and envisioning potential environmental hazards and emergencies allows property owners to put safeguards and protocols in place.
Paul Davis Restoration of North Dallas offers a variety of commercial services that can assist in this process. We serve customers in North Dallas and the surrounding areas. Here, we explain the various potential environmental risks to a commercial property.
Environmental Factors Can Increase Commercial Property Risk
There are likely data files and reports available concerning the commercial property before your ownership. Taking a deep dive into any industrial accidents, previous uses made of the property, the directional flow of both groundwater and above-ground waterways, and the underlying condition of structures on the property, are good places to start.
Depending on what you find, you may want to institute a series of soil samples, test for water pollution, and take a good look at maps of the area. Municipal offices, neighbors, and other people who have experience with the area might also be good sources of information. In addition, learn about weather conditions, both historical, current, and future projections.
Here are some of the hazards that might pose a risk to your commercial property:
- Storage of hazardous materials, including retail sales of chemicals
- Soil pollution related to gas stations, car repair shops, or dry cleaners
- Previous removal of asbestos or lead paint
- Mold, mildew, or bacteria
- Pollutants affecting indoor air quality
Dangerous weather events can worsen the sites where previous pollution has occurred, such as harmful substances getting into the groundwater. However, climactic conditions also represent a threat to life and property. These include severe storms, hurricanes, atmospheric rivers, earthquakes, and ice storms.
Potential Hazards and Emergencies in the Community
The town or city where the commercial property is located may have resources available to deal with emergencies. It’s a good idea to partner with local volunteer organizations that help during disasters. Developing relationships before an emergency happens is ideal. This includes volunteer fire departments, local chapters of the Red Cross, and church-run shelters or food pantries.
Local businesses can make a big difference in the resources available to the community. This can earn goodwill, and also provide an opportunity for training with employees or vendors. In many areas, hurricane preparedness for commercial buildings is a high priority, and community members want to help property owners.
Develop a Plan for Managing Commercial Property Risk
Once you have discovered how the environment is affecting your commercial property, it’s important to keep up with data collection and testing. Continue to keep records of weather events, industrial accidents, and the types of business conducted on the property. These records can help maintain the value of the property and guide plans to reduce commercial property risk.
Determine Available Restoration and Remediation Services
There’s always the potential that commercial property owners will require restoration services. Just as it’s a good idea to partner with community members and organizations before any emergencies occur, finding restoration specialists who are available for remediation and repair is also recommended. Paul Davis Restoration of North Dallas welcomes the opportunity to assist our commercial partners with disaster planning, providing experienced insights and cost estimates.
We offer restoration services following flood damage, water damage, storm damage, and fire damage. Paul Davis Restoration of North Dallas has experience working with insurance professionals and property managers. Our services include emergency response, available 24 hours a day, seven days a week, as well as coordination of all repairs and construction.
Let Us Help You Reduce Your Commercial Property Risk
Evaluating commercial property risk in light of environmental factors can be complicated, but there is real value in the knowledge gained. When property owners have better knowledge about their investments, they can make plans for improvement and safeguard against threats and hazards. Experienced restoration professionals can assist with the process of evaluation and disaster planning, as well as remediation and repair. For more information about Paul Davis Restoration of North Dallas, contact us today.
