Commercial and Industrial Real Estate Purchases can be tricky and complicated. Many financial institutions require a Environmental Phase II Investigations based on findings of a Phase I Environmental Assessment or a preliminary phase 2.
Some buyers try to rely on past investigations to make a purchase decision. Only soil and ground water sampling will satisfy the buyers' " Due Diligence" requirement in New Jersey. Environmental Phase II Assessments always start out with
Ground Penetrating Radar Scan of the entire site to locate buried objects like USTS, Septic tanks, Buried Construction Debris, Pipes and other buried steel. Then the areas of Environmental Concern are further investigated using subsurface evaluation techniques like drilling and soil boring. Once the soil samples are collected the next phase of the investigation will be installing wells and collecting ground water samples. Environmental Systems collects all soil and ground water samples in accordance with New Jersey Department of Environmental Protection's (NJDEP) Technical Regulations for Site Remediation. Once all the soil and groundwater results are received they are compared to any previous sampling events. Then the Environmental Phase II Assessment Report is completed to identify new areas of concern identified, property soil and ground water contamination levels along with the cost of future site remediation. By not completing a proper Environmental Phase II investigation, the buyer risks buying a contaminated site that the buyer maybe responsible for remediating the site at his own expense.
Many New Jersey industrial and commercial sites may be subject to
New Jersey's Industrial Site Recovery Act ( ISRA). Once a sales agreement is finalized the Seller/Buyer will need to submit various ISRA forms and documents before closing. Environmental Systems can provide the buyer and seller with assistance to get through this process. Environmental Systems has over 20 years experience providing comprehensive Environmental Phase II Assessments & Investigations. Many younger consultants may typically miss hidden contaminated floor drain areas and septic systems. Identifying areas of concern can be tricky and experience counts.
I have seen property buyers purchase a contaminated properties and have someone just review the documents. However if the person purchasing the property completed a Environmental Phase II Assessment prior to purchase, the buried tank would have been discovered.