Benaroya-Rainier Brewery Property Assessment

Floyd|Snider assisted the Benaroya Capital Company to evaluate the environmental status of the historic Rainer Brewery facility as a part of Benaroya’s pre-purchase due diligence review of the property. Information obtained by Floyd|Snider documented that a portion of the Rainer Brewery property was located within the footprint of an old City of Seattle municipal solid waste landfill and that underground waste oil tanks, previously located on site, had leaked resulting in soil and groundwater contamination. Floyd|Snider developed cleanup options, estimated cleanup costs, and provided recommendations about how to best deal with environmental conditions at the site.

Based on our recommendations, Benaroya was able to negotiate a purchase and sale agreement with the property owner requiring the owner to conduct additional environmental assessment and cleanup actions. Additionally, through negotiations led by Floyd|Snider, a “No Further Action” letter was prepared by the Washington State Department of Ecology that effectively quantified the environmental status of the site and facilitated the property transaction. Floyd|Snider’s work was crucial to establishing a final purchase price and to limiting future environmental liability associated with purchase of the property.


Services

  • Due Diligence Historical Document Review
  • Remedy Design and Remedial Cost Estimation
  • Agency Coordination and Negotiation