You need a Phase 1 Environmental Site Assessment – it can be a bit of an overwhelming undertaking. The biggest concern our clients have in
Phase 1 Environmental Site Assessments
A Phase 1 Environmental Site Assessment (ESA) is an evaluation and report of environmental risks that commercial real estate either currently faces or could face in the future. The ESA must adhere to ASTM Standard E1527-13 and the All Appropriate Inquiry (AAI) requirements to protect purchasers of commercial property. It is common that a Phase 1 ESA is required by a lending institution providing the funding for a purchase or refinancing.