Environmental Site Assessments (ESAs) are conducted for due diligence purposes in advance of most transactions involving commercial real estate. The ESA process is used to identify potential environmental concerns related to a property, such as soil and ground water contamination, and evaluate the risk of environmental impairment and liability.
Peer’s experience conducting ESAs includes large, multi-site and multi-state portfolios and extensive transportation corridors. We are fully accustomed to the fast-track deadlines typically imposed by the multiple interests associated with ESAs, and can quickly mobilize resources for efficient and cost effective data acquisition and analysis.
Peer’s standard Phase I ESA work product is prepared in accordance with the American Society for Testing and Materials (ASTM) Standard Practice E1527, which is the recognized industry standard defining good commercial and customary practice for conducting all appropriate inquiry into the previous ownership and uses of the property consistent with the Federal Comprehensive Environmental Response, Compensation and Liability Act (CERCLA). Peer also routinely tailors our Phase I ESAs to meet lender-specific requirements of HUD, Fannie Mae, Freddie Mac and numerous other lending entities.
If a Phase I ESA identifies a Recognized Environmental Condition (REC), such as potential soil and ground water contamination from past land use, Peer is equipped to conduct a Phase II ESA to evaluate and resolve the issue. Peer typically implements a phased, media-specific approach, designed to target the areas of concern at a property. We prepare Phase II reports that deliver clear, concise findings and provide an objective assessment of the environmental conditions at the property. Peer advocates our clients’ objectives while maintaining a strict code of ethics within the regulatory framework for protection of human health and the environment.
Peer’s multi-disciplined professional staff maintains the certifications and has the experience necessary to address other building-specific environmental issues identified by Phase I ESAs, such as asbestos, lead-based paint, mold, and radon. Such environmental issues can pose a health risk to building occupants and can create a liability for the current and future property owner. Peer’s staff can perform screening sampling and analysis during the initial site visit, or complete comprehensive building surveys, prepare abatement plans and specifications, and monitor repair and removal/mitigation activities.
Our staff also has experience in preparing a variety of Operations and Maintenance Plans to assist clients in meeting regulatory and lender requirements for long term management of asbestos and/or lead-based paint which is left in place rather than being fully abated. Read about Peer’s capabilities regarding asbestos, lead-based paint, mold, and radon.
In addition to standard ESA services, Peer provides its clients specialty services such as NEPA Environmental Reviews and Property Condition Assessments.
Environmental Site Assessment Services
- Phase I ESAs
- Phase I ESA Updates
- Phase II Investigations
- Reliance Letters
- Hazardous Materials
- NEPA Environmental Reviews
- Property Condition Assessments