ferriter scobbo client closes on remediated property

On March 7th, after decades of impact from lead contamination and years of environmental remediation, the former Chadwick Lead Mills site on the Salem/Marblehead, MA line, was successfully sold to the Town of Marblehead and Salem Parks and Recreation Commission.  An adjacent parcel, owned by a realty trust, was also included in the transaction.

In the end, while the land could have been sold for development, the owner, Glover Estates, LLC, agreed that it should be preserved for passive recreation - greatly enhancing the area’s open space network.

Ferriter Scobbo attorney, Jennifer Bernazani-Ludlum served as lead counsel for Glover.  The multi-year effort included pursuing the party liable for the contamination, negotiating remediation terms, resolving government enforcement actions and litigation associated with the site.  She had direct responsibility for finalizing the settlement agreement in which the responsible party paid for the vast majority of the remediation, overseeing the remediation, negotiating the option agreement and preparing documents required for the ultimate sale of the property to the municipalities.

Congratulations to long-standing Ferriter Scobbo client, Glover Estates, LLC on the closing of this transaction and to the municipalities on their recent purchase of now beautiful waterfront property.