Commercial Real Estate & Flooding
Spring is upon us!
The winter snows are melting and heavier rains are more prevalent, both of which saturate the ground, inundate watersheds, and inevitably cause rivers, creeks, and streams to rise above their banks. Investing in real estate that is located in a flood zone can impact property values and the amount of time and capital spent on insurance and property management projects, such as flood mitigation and repair. In some cases, a flood zone designation can occur after a property has been purchased - sometimes, years after the fact. This will almost certainly affect the property value negatively.
An experienced and professional real estate team will help you navigate the effects that flooding and flood zone designations can have on existing and future commercial property investments. Working with such a team now will save considerable time and money in the future, especially when the spring flood season occurs annually. Contact Industrial Commercial Real Estate today for more information on commercial property and the risks of flooding.