Phase 1 ESA
Understand the Environmental Risks prior to purchasing.
A pre-purchase environmental assessment is usually required by lending institutions prior to settlement. But don’t just check the box and say you did it.
A Phase 1 ESA or PEA should be useful to everyone that is purchasing or considering purchasing property. A study conducted by an experienced professional compared to a junior technician could make all of the difference in the world in identifying potential liabilities. Most people shop for the cheapest price and treat a Phase 1 ESA as a commodity, this is a big mistake.
RELEVANT RECENT PHASE 1 ESA EXPERIENCE:
PEA for large residential development in Sussex County Beach Market. This partially constructed development was an REO property that was being liquidated by a local lender.
Phase 1 ESA for W.P. Carey & Company LLC for 120 acre mixed use property in Sussex County, Delaware. Partially constructed with equipment and chemical storage as well as propane field, sanitary pump station and previous livestock and row crops operation.
Phase 1 ESA for mixed use community in Kent County, Delaware. This partially constructed development was an REO property that was being liquidated by a local lender.
Phase 1 ESA for Wilmington Savings Fund Society for 50 acre industrial property in Wilmington, Delaware. Included active vehicle maintenance, USTs, recycling operations and chemical storage.
Phase 1 ESA for PNC Bank on partially constructed multifamily facility in Newark, Delaware. Included adjacent high speed rail line, high tension power lines and fire protection pump house.
Additional Phase 1 ESA Experience:
Previously managed a team of six environmental professionals in Environmental Audits Division of JCM Environmental. This Division conducted Phase 1 and Phase 2 ESAs for various lending institutions, including banks, insurance companies and private capital firms.
Prepared higher profile Phase 1 ESA reports directly, including the Jekyll Island Club in Georgia, Multifamily parcel in Jupiter Florida, various parcels for Ryan Homes in Southeastern Pennsylvania and Historic Estate in Southern New Jersey.