environmental-site-assessment

Environmental regulations have made a significant impact on commercial/industrial real estate markets, particularly in the area of property transactions. Federal regulations can give defenses to the property owner provided that the property owner conducted all appropriate inquiries regarding the property at the time of acquisition, and reasonable measures have been conducted to investigate the potential for such contamination prior to property purchase.

The objective of a Phase I Environmental Site Assessment is to determined whether a potential for a "Recognized Environmental Condition" exists on or near the subject property. A Recognized Environmental Condition is defined by the ASTM in their Environmental Site Assessment Standard E 1527 as:

"The presence or likely presence of any hazardous substances or petroleum products on a property under conditions that indicate an existing release, a past release, or a material threat of a release of any hazardous substances or petroleum products into structures on the property or into the ground, groundwater or surface water of the property. The term includes hazardous substances or petroleum products even under conditions in compliance with laws. The term is not intended to include de minimis conditions that generally do not present a material risk of harm to public health or the environment and that generally would not be the subject of an enforcement action if brought to the attention of appropriate governmental agencies."

ADE's approach to evaluation of potential environmental liability is aimed at maximizing our client's return on investment from the sale and development or continued operation of the property. This approach not only identifies the problems, but also addresses solutions.