Environmental Site Assessments
An Environmental Site Assessment (ESA) is the process by which a person or
entity seeks to determine if a particular parcel of real estate (including
improvements) is subject to recognized environmental conditions. Many loan
institutions require a Phase 1 Site Assessment prior to loan approval and it its
recommended that all potential buyers of commercial real estate invest in such a
study.
Bay's staf of trained environmental professionals conducts Environmental Site
Assessments following the guidelines as set forth in ASTM Standards on
Environmental Site Assessments for Commercial Real Estate E1527-93 and E1528-93
and consisting of the following:
- A records review to help identify recognized environmental conditions
- A site reconnaissance to visually and physically observe the property and
any structures
- Interview with owners and occupants to obtain information about site usage
- Review of aerial photographs (past & present) for aid in determining
site usage
- Recommendations for further testing if required
Additional reviews can be provided such as testing for asbestos, radon and
lead in drinking water with the Phase I ESA.
Should further testing be recommended, a Phase II ESA in which soil sampling
and analysis can be provided to determine the extent of environmental concern
and possible options for remediation. |