ENVIRONMENTAL ENGINEERING & CONSULTING REAL ESTATE DUE DILIGENCE

Real Estate Due Diligence

Identifying and quantifying environmental risks associated with real estate acquisitions is an important service EE&G provides to its clients. Each real estate transaction has its own nuances and clients have varying levels of risk tolerance. EE&G provides a variety of environmental assessment and environmental engineering services to meet its clients’ needs.

Phase I & II Environmental Site Assessments (ESAs)

We specialize in Environmental Assessment. Superfund and a host of similar state statutes established a strict liability standard that can jointly or severally require any or all parties contractually linked to a contaminated site to bear the liability and cost of remediating the site. The Superfund Amendments and Reauthorization Act of 1986 (SARA) provided limited relief in the form of the "innocent purchaser defense". The amended law stipulated that a land purchaser would not be later held liable for contamination cleanup, if prior to purchase, a specific due diligence investigation was conducted.

EE&G performs Phase I and II ESAs in accordance with the American Society for Testing and Materials guidelines, Practice E-1527 (ASTM Standard). The guidelines set forth by the ASTM Standard are regarded as the commercial real estate industry standard for performing ESAs with the intent of satisfying the due diligence investigation required by SARA. In addition, the ESAs assess for the range of Hazardous Substances and Petroleum Products regulated under the Environmental Laws. EE&G’s ESAs are completed by or under the direction of a qualified Environmental Professional as defined in the ASTM Standard.

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Transaction Screens

For a variety of reasons including but not limited to; prior knowledge of the property, size of the acquisition portfolio, and current use of the site, a client may request an environmental review of the property with a more limited scope. The Transaction Screen may include one or more of the ASTM requirements.

Records Review
Site Reconnaissance
Interviews with Past or Present Owners
Interviews with Regulatory Officials

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Business Environmental Risk

Business environmental risk is a risk which may have a material environmental or environmentally-driven impact on the business associated with the current or planned use of a parcel of commercial real estate, not necessarily limited to those environmental issues required to be investigated as part of ASTM Designation E 1527-05. The following observations regarding business environmental risk considerations may be addressed as part of a Phase I ESA:

Radon
Indoor Air Quality & Mold
Lead in Drinking Water
Environmental Regulatory Compliance
High Voltage Powerlines
Cultural, Historical, and Archeological Resources
Wetlands and Surface Waters
Threatened, Endangered, and Other Protected Species
Wildlife Sanctuaries and Other Natural Resource Preserves
Biological Agents

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EE&G - Miami South Florida Environmental engineers, industrial hygiene specialists.