Buyer beware is an understatement in commercial and industrial real estate. Phase I Environmental Site Assessments (ESAs) identify potential environmental liabilities prior to the development, sale, or transfer of these properties.
But informed property transactions are significant for both buyers and sellers. Sellers can use Phase I ESAs as a tool to market their properties.
Enfuse executes Phase I ESAs in accordance with most recent ASTM and USEPA’s All Appropriate Inquiry due diligence standards. Enfuse defines the environmental conditions associated with subject property as well as surrounding properties via a thorough site inspection and an extensive historic property information review. Should the Phase I ESA indicate a need for further evaluation, Enfuse conducts Phase II ESAs to confirm/deny, Phase III ESAs to delineate, and Phase IV ESAs to remediate environmental impacts.
A Preliminary Assessment (PA) is a diligent inquiry that is completed in accordance with the Technical Requirements for Site Remediation (TRSR; N.J.A.C. 7:26E-3.1 and 3.2). Through a detailed review of available historic information followed by a site inspection to confirm, a PA evaluates if any potentially contaminated areas of concern (AOC) exist onsite that require further investigation.
Pursuant to the TRSR, an AOC is defined as any location where any hazardous substance, hazardous waste, or pollutant is known or suspected to have been discharged, generated, manufactured, refined, transported, stored, handled, treated, or disposed, or where any hazardous substance, hazardous waste, or pollutant has or may have migrated.
The requirements of a PA are more exhaustive than a Phase I ESA and must be completed to qualify for innocent protection status under the New Jersey Spill Act.
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