Environmental Site Assessment, also called Phase I ESA, aims to collect information about the site’s history. It investigates and evaluates certain property conditions to uncover signs of potential contamination that might affect the property’s value. Information revealed from this procedure will help clients make informed, practical, and cost-effective decision-making during commercial real estate transactions.
Phase I ESA can give evidence to hold liable parties accountable for contamination. Buyers, lessors, and lenders may be held accountable for owning, running, or financing facilities with environmental risks.
Completing a Phase I Environmental Site Assessment is part of the parties’ environmental due diligence. This determines if the property’s groundwater, soil, or other environmental media might risk public safety and health.
This property condition assessment NJ can be performed on different properties, including:
- Multiple-family homes
- Commercial structures
- Industrial sites
- Agricultural properties
- Vacant spaces
The Phase I ESA is frequently conducted before real estate transactions. It demonstrates the requestor’s thoroughness in identifying past or current property issues. Properly conducted Phase I ESA can also give protection against environmental liabilities.
The Phase I ESA also examines a property’s historical and environmental documents. The expert will collect and evaluate the site’s documentation, such as historical city directories, historic fire insurance maps, aerial photographs, land use maps, city records, land titles, and environmental property records.
Site inspection is performed after document evaluation. It assesses the site’s condition and operations to determine potential environmental issues. A commercial building inspection NJ involves a visit to the site and a report of the observed property conditions. The inspector will assess the subject property and adjacent structures to identify possible contamination sources.
Typically, the interview is conducted concurrently with the site assessment. The environmental specialist will interview former and current property owners, personnel, operators, occupiers, and local government authorities to understand the property’s current and historical operations and uses. To know more about the Phase I Environmental Site Assessment, read this infographic from Lockatong Engineering. It is a NJ company that provides comprehensive building engineering and environmental services for commercial, manufacturing, residential, and other properties. Lockatong Engineering experts can help clients with their environmental site assessment and other site inspection processes.