DeNovo Properties recently acquired a 340,000 square foot former battery manufacturing facility set on 30 acres in New Brunswick, New Jersey. The plan to reposition the New Brunswick property which is located in an area of mixed industrial, commercial and residential use includes following a specific decommissioning plan that is flexible in nature and will allow for us by single tenant or multi tenant flex space uses. DeNovo provided the owner a complete "walk away" from the property, with DeNovo assuming all the liabilities and obligations of the owner as well as provided a broad indemnification protecting them from any future liabilities associated with the property. These obligations included taking over all the operations cost of the existing facilities, and assumption of the responsibility of the NJDEP Pollution Discharge Elimination System (NJPDES) permit. The DeNovo indemnification was "backstopped" with a $10,000,000 insurance policy, provided by an "A" rated carrier by AM Best.