Philadelphia, PA and Princeton, NJ, April 15, 2008 − Buchanan Ingersoll & Rooney shareholders James O'Toole, Jr. and Frederick Masters recently completed successful negotiations on behalf of client Waste Management of New Jersey Inc. for the redevelopment of 49 acres of the former PJP Landfill site in Jersey City, New Jersey.
From start to finish, the deal was completed in approximately 18 months, and it involved complex negotiations and agreements with multiple parties, including the developer AMB Property LP and the New Jersey Department of Environmental Protection.
AMB Property LP, a global developer will construct an 878,000-square-foot distribution center on 49 acres of the former PJP Landfill. The facility will serve the Ports of New York and New Jersey.
The site, which was added to the federal National Priorities List, or Superfund, in 1983, was actually owned by the Archdiocese of Newark, but Waste Management had assumed responsibilities for site remediation.
"This was a unique development deal in that our client team seized an opportunity to substitute redevelopment for remediation on environmentally impaired property that it did not own. The big winners are the citizens of Jersey City who economically benefit from Waste Management's commitment to protecting the environment and supporting sustainable brownfield redevelopment," stated lead attorney O'Toole.
Practicing in Buchanan's Litigation and Environmental Law Sections, O'Toole is part of a national group of attorneys who focus on all aspects of environmental litigation and brownfield transactions.
James O'Toole, Jr. chairs Buchanan Ingersoll & Rooney's Environmental and Toxic Tort Litigation Practice Group. He represents Waste Management on environmental and toxic tort litigation and brownfield redevelopment matters, and regularly serves as advisor to senior management and counsel within the company. O'Toole participates in brownfield leadership conferences and has served on the executive team of the National Brownfield Association.
Frederick H. Masters leads the firm's Real Estate Practice in Philadelphia. He focuses his practice on real estate acquisitions, financing, development (both brownfields and greenfields), construction and commercial leasing. He also has experience in land use matters, business dissolutions (both amicable and litigious), dispute resolution and troubled project workouts and restructuring.