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COMMERCIAL PROPERTY PHASE 1 ENVIRONMENTAL INVESTIGATIONS

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SO YOUR PURCHASING A COMMERCIAL PROPERTY

 There are a lot things to know if your purchasing a commercial property for the first time or the 50 th time. A low price on a commercial property  with a great location could mean that hidden environmental issues exist. ESI' Team of LSRP.s can chart the way to completing comprehensive Due Diligence  and Risk Assessment.  With over 8,000 Contaminated site in New Jersey your chances of purchasing a affected site is high. Remediation and clean-up can range from $ 50,000 to over $ 500,000. Environmental Systems Environmental Phase I and Phase II  Assessments can collect soil and ground water  Data that can be invaluable to the purchaser of a commercial property.

WHERE DOES A COMMECIAL PROPERTY BUYER START ?

 The process starts with contracting with  a NJ Certified LSRP who is experienced in Commercial Property transactions including Environmental Site Investigations and Phase 1 environmental Due Diligence. The New Jersey Department of Environmental Protection has  established laws under the Industrial  Site Remediation Act I( ISRA) that requires a buyer and seller to go through the investigation process prior to sale. No all commercial properties are subject to the ISRA laws but many  industrial or manufacturing sites  are. A  LSRP  with years of real estate experience can identify areas of Environmental concern that can protect the buyer from purchasing a contaminated site.

WHAT ENVIRONMENTAL SERVICES ARE NEEDED TO COMPLETE IPROPER DUE DILIGENCE PRIOR TO DEED TRANSFER ?

The first  important service that would be needed to be completed is a  Phase 1 Environmental  Assessment that includes a Tank Sweep using Ground Penetrating  Radar. (GPR) . Once the Phase I and GPR are completed a Environmental Phase II can be completed performing soil and ground water sampling of environmental areas of concern or a full property Environmental Site Investigation.

THE FINAL REPORT

The final report should be compilation of all Due Diligence  including the Phase 1 environmental  and Phase II Assessments with all  areas of Environmental concern highlighted with the LSRPs determination of risk along with the detailed Environmental Site Investigation.

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Due Diligence, Environmental Site Investigation and Phase 1 Environmental Reports are key words that used during a commercial property purchase.

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 Environmental Systems has over 20 years experience providing Environmental Site Investigation, Phase 1 Environmental and Due Diligence services  to commercial real estate buyers.