Could your commercial property be under environmental distress?

Whether you are the seller or buyer in a property transaction, nothing can derail your deal faster than the discovery of environmental concerns. It is important to have an ESA done early on during the transaction or even better, before the transaction of the property to prevent any delays in the process.

Environmental concerns routinely emerge in all types of real estate transactions, from the sale individual residences to the transfer of large commercial and industrial facilities. Managing the associated risks is most of the time always possible. The bigger challenge tends to be initially spotting environmental issues. Failure to identify and address such issues may result in parties unknowingly assuming substantial liabilities.

It is important for the seller to provide all key environmental documents for the property like; existing Phase I ESA or Phase II ESA, environmental permits, regulatory permits, records, and reports, description of response actions or remediation projects, description of claims by any government authority or third party contingent liabilities, and all environmental reserves that the property may have.

Phase I Assessments:

CRG Texas provides Phase I Environmental Site Assessments in accordance with ASTM
E1527-13 and EPA All Appropriate Inquiry standards:
• SBA 504 & 7a Compliant, Freddie Mac, Fannie Mae
• Identify potential or existing environmental liabilities
• Qualify innocent landowners, buyers, and lenders for “Landowner Liability Protections” (LLPs) under CERCLA
• Environmental risk management

Phase II Assessments:

CRG Texas provides Phase II Environmental Site Assessments in accordance with ASTM E 1903-11 standards for environmentally sensitive properties:
• Surface water and sediment assessment
• Soil and groundwater investigations
• Petroleum storage and fueling sites
• Manufacturing and industrial
• Pharmaceutical and petrochemical
• Dry cleaning plant facilities
• Asbestos-containing materials & lead-based paint, and mold surveys
• Subsurface geophysical surveys

Phase III Site Cleanup:

CRG Texas provides Phase III ESA Site Cleanup in accordance with Federal, State, and local government and industry standards for environmentally impacted properties:
• In-situ soil mixing/ stabilization
• Contaminated soil excavation, transportation, and disposal
• Petroleum & hazardous chemical tank removal and decontamination
• Tank hold flushing and soil washing
• Bio-remediation, Phyto-Remediation, and wetlands restoration
• Demolition and site restoration prior to a property sale