Environmental Compliance 101

The preliminary stages of environmental due diligence associated with a commercial real estate transaction often identifies environmental concerns or recognized environmental conditions (RECs). At August Mack, after initial environmental concerns have been identified we are often asked, “what is the next step?” Whether initial environmental concerns were identified in a Phase I Environmental Site Assessment (Phase I ESA), Modified Phase I ESA, or Records Search with Risk Assessment, a Phase II ESA is often the next logical step in satisfying the all appropriate inquiry (AAI) element of CERCLA’s innocent purchaser defense.

Click here to continue reading "The Phase II Subsurface Investigation & Commercial Real Estate Transaction." This August Mack newsletter article and the related webinar on May 24th (register here) will include information on the varying scopes of a Phase II ESA, including a description of the purpose, the process, and how to interpret the results.