Due Diligence Support for Real Estate Transactions
Prior to purchasing commercial or industrial properties, it is advantageous and often necessary to understand the potential environmental liabilities associated with the property. CEA conducts numerous types of inspections, screenings, assessments and due diligence activities in
support of real estate transactions, including:
- ASTM Transaction Screens (TS) – A TS offers a standardized approach to environmental due diligence that provides a generally acceptable degree of confidence about the environmental conditions of a property.
- ASTM Phase I Environmental Site Assessments (ESA) – A Phase I ESA includes a site inspection and review of background information designed to identify Recognized Environmental Conditions (RECs) at commercial properties.
- ASTM Phase II Limited Subsurface Investigations (LSI) – A Phase II LSI typically includes soil and groundwater sampling and laboratory analysis to confirm or deny the presence of suspected environmental hazards identified during a Phase I ESA.
CEA also conducts ASTM Vapor Intrusion (VI) Surveys which evaluate the potential for subsurface contamination to impact indoor air, Property Condition Assessments to assess building functionality, plus Property Transfer Assessments and Preliminary Site Assessments.
ASTM Transaction Screen, Conducted on behalf of a local Commercial Lending Institution (2012) Four-Story Residential Apartment Building, Boston, MA
Historical information (Sanborn Maps) indicated that the Site has been occupied by the current four-story residential apartment building since at least 1887. Based on the outcome of the TS, CEA concluded that additional inquiry of the property was not warranted.
ASTM Phase I ESA, Conducted on behalf of a local Commercial Lending Institution (2012) Commercial Property, West Boylston, MA
The Phase I Environmental Site Assessment recommended sampling of subsurface soil and groundwater to evaluate potential contamination associated with this Country Club setting for a number of current and/or former USTs.
ASTM Phase I ESA, Conducted on behalf of a local Commercial Lending Institution (2011) Manufacturing Facility, Shrewsbury, MA
The Phase I Environmental Site Assessment concluded that further assessment of subsurface soil and groundwater was not required to evaluate potential contamination associated with a number of former USTs at the property.
ASTM Phase II LSI, Conducted on behalf of a local Commercial Lending Institution (2012) Trucking Facility, Shrewsbury, MA
Upon conducting Phase II environmental sampling activities at this approximately 22-acre property occupied by a trucking company, CEA concluded that additional inquiry was not warranted.