Expert Insights in Phase 1 Environmental Assessments
Introduction If you need to go to a doctor for an annual checkup, you will make sure you see a licensed medical professional and an expert in the relevant field. How about your car repair? You will probably not risk going to a person without adequate mechanic qualifications. The same applies to Phase 1 Environmental Site […]
The Cost of Ignorance: Why Skipping a Phase 1 Environmental Assessment Could Be a Costly Mistake
Introduction Purchasing property or investing in a commercial real estate project requires significant funds. With limited budgets, many people try to economize by omitting (what they consider) unnecessary or less consequential steps. Phase 1 Environmental Assessment is one of the project phases some investors underestimate and, thus, tend to leave out, hoping to save time […]
Due Diligence Done Right: How to Choose the Best Phase 1 Environmental Assessment Consultant
Choosing the best Phase 1 Environmental Site Assessment (ESA) consultant is crucial to ensuring the safety and value of your property investment. In this blog post, we will guide you through the process of “due diligence done right: how to choose the best Phase 1 Environmental Assessment consultant,” helping you confidently navigate the complex world […]
The Top 10 Most Common Environmental Risks Uncovered in Phase 1 Assessments
Introduction Environmental risks are substances, phenomena, or activities in the natural or built environment threatening human well-being and nature. These hazards can be natural or artificial, ranging from water, groundwater, soil, and air pollution. This article will underscore the significance of environmental due diligence, describing the top 10 most common risks uncovered in Phase 1 Assessments. […]
Recognized Environmental Conditions: Your Essential Guide in the World of Phase I Environmental Site Assessments
Hello there, business owners, commercial and industrial real estate investors! Today, we’re going to dive into a topic that’s critical to understanding the environmental health of your properties: Recognized Environmental Conditions, or as they’re commonly referred to, RECs. Let’s get started! What Are Recognized Environmental Conditions (RECs)? At the most basic level, a Recognized Environmental […]
Phase 1 to Phase 2 Environmental Site Assessment: Problem Discovery in Industrial Properties
Environmental site assessments are critical processes in evaluating the environmental risks and liabilities associated with a piece of industrial property. They play a crucial role in determining if the property is contaminated and if further evaluation is needed. The assessment process is typically divided into two phases: Phase 1 and Phase 2. A Phase 1 […]
What Are The Misunderstandings Surrounding Phase 1 Environmental Reporting?
A Phase I Environmental Site Assessment (ESA) report investigates a property’s current condition and historical use. Its purpose is the assessment of the potential liability of a new owner due to the presence of hazardous materials. It serves in real estate transactions such as land and building purchases, leases, and bank loans for commercial real […]
What does a Phase I ESA cost?
Phase I Environmental Site Assessment (ESA) costs vary due to location, size of the property, the history of the property and the consultant performing it; however, they typically range from $2,000 to $3,500 or more. We will breakdown what drives Phase I ESA costs, what to look for and what to look out for when […]
What is a Phase I ESA? Part 3
( Click here for Part 1, Click here for Part 2 ) Phase I ESA Report: Once the environmental professional has performed the appropriate records review, site reconnaissance, and key site personnel interviews, the report can be prepared and issued. The Phase I ESA report should follow the ASTM International Standard Practice for a Phase I Environmental Site Assessment. […]
What is a Phase I ESA? Part 2
( Click here to access Part 1 ) What does a Phase I ESA contain? If you have ever had a Phase I ESA performed or looked at the report, you know they are large documents to say the least. These reports can be incredibly overwhelming if you do not have a basic understanding of the report, […]
