Automobile Repair Facility

Auto Repair

In 1983, a client purchased a gas station and auto repair facility without conducting an environmental assessment. Later, petroleum contamination was discovered during regulatory inspections. GeoTech Environmental, an organization specializing in in-house environmental engineering services, secured State funding, conducted active remediation, and obtained regulatory cleanup approval.

The client then enlisted Geotech Realty’s services to find a buyer for the property. Through an aggressive marketing campaign and direct investor relationships, the property was successfully sold in less than 35 days, resulting in a mutually beneficial transaction with the purchaser. The property was sold for $775,000, and the seller applied for the 1031 IRS Exchange Program, thereby maximizing their hard-earned retirement income.

Since the sale, approximately 11 months ago, the property has appreciated to over $1,500,000, and the new owner has subsequently acquired multiple investment properties using GeotechRealty’s specialized expertise.

"We had been at this business for over 35 years and were getting old.

We purchased the site without conducting any due diligence and were stuck with the contamination issues. A prominent law firm guided us to Neil Lakhlani and the rest is history. Technical skill and trust were the key reasons on selecting GeoTech. Neil is honest and thorough in his environmental and real estate dealings, which also offered us peace of mind when negotiating complex real estate transactions that can leave liability on our shoulders even after closing. We highly recommend Neil Lakhlani to anyone who wants to sell an auto repair business. Call him you will not regret it.”