Why Is A Phase I Environmental Site Assessment So Important?

Engineers Conducging Phase 1 Environmental Assessment

A Phase I ESA (Phase I ESA) is important because it helps protect your liability.  Especially, when buying commercial real estate.  Whether it’s a vacant land or a property with 10 buildings.  A properly prepared Phase I ESA is a key part of the environmental due diligence process.  Simply put – it helps identify historical or present day concerns related to the subject site.

The Phase I ESA helps identify historical uses that could impact the subject site, even today.  Example of historical uses that can be of concern are dry cleaners, gas stations and types if industrial uses that can leave an environmental impact on a property.  It can be seen as a type of insurance – in case surprises arise after buying the property.  Certain high risk uses can impact the property in a way that contamination can exist 20, 30 or 40 years later.

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Phase I ESA – New Standard Is Here!

Site Engineer on a Construction Site

When a company wishes to purchase commercial real estate, whether with existing structure or vacant land, a Phase 1 Environmental Site Assessment (ESA) should be performed to ensure Environmental Due Diligence on behalf of the owner and/or lender. The ESA report would indicate the likelihood of environmental liabilities being present based on the historical or …

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