Environmental due diligence — the first step in any commercial land transaction — is critical to evaluate environmental conditions and risks associated with a property. Whether you are a property owner, developer, lender or local government official, environmental due diligence and proactive risk management can help you make informed decisions during property negotiations.
Below, we discuss different types of environmental due diligence and why you need an environmental professional to conduct such assessments and develop appropriate remediation measures based on the outcomes.
Site assessments are a key component of environmental due diligence in most land transactions. While the primary aim is to identify and quantify environmental risks, site assessments also consider how environmental conditions and remediation costs will affect the valuation of the property in question.
Although they are developed according to standards from the American Society of Testing and Materials International (ASTM), most site assessments must be customized to address the unique facets of each transaction. The following table lists some of the most common environmental appraisals used for development projects on brownfield sites and other vacant properties.
|Assessment types and what they measure
|Phase I Environmental Site Assessment (ESA)
|Phase II ESA
|Record Search and Risk Assessment (RSRA)
Depending on the redevelopment scope, additional measures may be required to satisfy environmental due diligence, including:
Thorough environmental due diligence requires professional expertise and, per ASTM standards, Phase I and Phase II ESAs should be only conducted by environmental professionals. Partnering with a trusted team of environmental professionals helps ensure you receive meticulous site assessments for redevelopment projects of any size.
At Fehr Graham, we have helped municipalities, developers and others accurately assess environmental conditions for commercial and industrial sites since the 1970s. Our team of licensed engineers and experienced environmental professionals conducts customized site assessments and other forms of due diligence to help you reduce project costs, secure available grant funding and ensure your redevelopment project complies with local municipal, state and federal regulations.
Whether you are redeveloping a junkyard, an obsolete factory or a vacant manufacturing building, Fehr Graham is a trusted name in environmental due diligence across the Midwest and beyond. We not only provide you with accurate and timely evaluations, but we also develop remediation plans to address all environmental concerns and ensure successful outcomes for your redevelopments.