Whether you are the seller or buyer in a property transaction, it is important to secure the future value of your property. It is important to have an Environmental Site Assessment (ESA) done early on during the property transaction due diligence period before the closing date to allow time for go/no go decisions and additional assessment (if warranted) to prevent any delays in the process.
Environmental concerns routinely emerge in all types of real estate transactions, whether it be the sale of small commercial real estate 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 in the future.
It is important for the seller to provide all key environmental documents for the property like; copies of the previous Phase I ESA or Phase II ESA reports, environmental permits, regulatory permits, maintenance and waste management records and reports, description of response actions or remediation activities, and environmental reserves or liens that the property may have.
If the seller does not have these items, then a prospective purchaser, investor, developer, or responsible party should consider the following assessments be performed for a subject property:
Phase I Environmental Site Assessment (ESA)
CRG Texas provides Phase I Environmental Site Assessments in accordance with ASTM E1527-13 and EPA All Appropriate Inquiry standards provide:
• Identification of potential or existing environmental liabilities associated with the subject site and surrounding sites that may pose a threat of environmental risk to stakeholders.
• Qualify innocent landowners, prospective purchasers, and lenders for “Landowner Liability Protections” (LLPs) afforded under CERCLA
• SBA 504 & 7a Compliant, Freddie Mac, Fannie Mae
Phase II Environmental Site Assessment (ESA)
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
Non-Scope Environmental Considerations
Non-ASTM Scope Considerations include and are not limited to: Wetlands, Threatened & Endangered Species, Lead-Based Paint (LBP), Asbestos Containing Materials (ACM).