Hillsboro West Shopping Center
As part of an environmental due diligence assessment for a real estate transaction Point Source performed a subsurface investigation of a former gas station site. This investigation revealed contaminated soil and groundwater. Point Source Solutions completed an extensive risk-based evaluation and attained a DEQ “No Further Action” determination within six weeks. The real estate transaction proceeded utilizing conventional financing without interruption to the closing schedule.
“A number of difficulties arose during the investigation, but Point Source Solutions addressed all issues in a professional manner and kept all parties apprised of project status. Point Source performed all work under a tight deadline and kept the project within budgeted cost estimates. Point Source provided significant environmental expertise to this project and their diligence resulted in a closed loan.”
— Jim Harty, Vice President, American Pacific Bank
Johnson Creek Rentals
This was the largest Portland area SBA loan in 2000. A gas station once operated on the property. Other consultants worked on the property for 10 years without successful closure. After evaluating site conditions, Point Source Solutions recommended that CIT SBLC lend on the property prior to regulatory closure. This enabled the business to change hands and operate uninterrupted. Point Source Solutions completed site closure activities during the following year, resulting in a DEQ “No Further Action” determination.
“The SBA lender’s confidence in the ability of Point Source Solutions to evaluate risk and to correct problems at a reasonable cost enabled the estate closure to proceed without interrupting client business.“
— Dean Gibbons, Estate Attorney
“Point Source Solutions has conducted environmental risk assessment and corrective action for CIT since 1999. In addition to Phase I due diligence, Point Source Solutions handles our problem properties in the western states. When I assign a project to Point Source, I know that the results can be relied upon and that work will be completed on time and at a fair price.”
— Brad Benson, Senior Regional Account Manager, CIT Small Business Loan Corp.
Indoor Air Quality Investigations
“Point Source Solutions has handled indoor air quality issues in our buildings since 1999. Norris & Stevens, Inc. maintains the greatest concern for its tenants’ environments. Point Source Solutions has helped us achieve this. Their knowledge of HVAC layout and operation, the dynamics of water damage, historical building construction, and potential contaminants of concern, results in reasonable and effective recommendations. In addition, Point Source Solutions provided complimentary training for our Commercial Property Managers on indoor air quality issues.”
— Bruce Soihr, Commercial Asset Manager, Norris & Stevens, Inc.