Phase I Environmental Site Assessments (ESAs) are performed in order to identify any known or potential environmental issues that may have impacted or have the potential to impact the property. These assessments consist of a research-based investigation involving an inspection to observe current property operations, historical research of past uses, [...]
The American Society for Testing and Materials (ASTM) standard for Phase I Environmental Site Assessments (ESA) was recently revised and published in November of 2021 as ASTM E1527-21. The reason for the revisions is that all ASTM standards have an 8-year shelf life. Once you approach the shelf life of [...]
It seems like just yesterday we were discussing updates to the 2013 Phase I Environmental Site Assessments (ESA) standard and yet here we are again with another revision to the standard that was recently approved by the EPA with an effective date of February 13, 2023. Why another revision? According [...]
Are you considering purchasing a commercial or industrial property that may have environmental contamination? Are you curious about the difference between the Ohio EPA Voluntary Action Program and ASTM Phase I ESA/Bona Fide Prospective Purchaser Defense? Since 1994, the only way for a purchaser in Ohio to receive a release [...]
Are you considering purchasing a commercial or industrial property that may have environmental contamination? It is critical to consult with a qualified team that can provide you with a full evaluation of risks that typically accompany the purchase and redevelopment or reuse of the contaminated property. Learning the difference between [...]
While ASTM defines Business Environmental Risk (BERs) specifically, all conditions identified in environmental due diligence could be characterized as Business Risks with potential time, cost, stigma, and other obstacles to completing a transaction or preserving a real estate asset. This webinar will address examples of conditions encountered and the art [...]
Environmental due diligence, it’s not just a game of alphabet soup. From ESA, TSA, ASTM, AAI, REC, CERCLA, RCRA, UST, VAP, BFPP, COC, BUSTR, SBA to VI, the acronyms are plentiful. Should you conduct an ASTM/AAI Phase I, or a TSA, or maybe go through the VAP? Do you have [...]
It is important to understand how due diligence can vary from project to project and how it can be used to manage the risks associated with real estate transactions. Environmental due diligence is accomplished by various real estate transactions, each with a different and specific purpose in mind. Understanding what [...]
It is important to understand how due diligence can vary from project to project and how it can be used to manage the risks associated with real estate transactions. Environmental due diligence is accomplished by various real estate transactions, each with a different and specific purpose in mind. Understanding what [...]
Environmental due diligence for commercial property transactions usually starts with an ASTM compliant Phase I ESA. While the Phase I ESA protects against CERCLA liability, there are a multitude of other key environmental factors that can impact your deal or have ramifications down the line. Items that often pose a [...]
