We recently conducted a Phase I ESA, and identified multiple RECs. Neither the study site nor any surrounding properties had any issues identified in the government database listings, and no real issues of concern were identified through a review of historical sources and local records.
However.......
When we arrived at the site to perform the inspection, a massive junk/salvage yard operation was observed on an adjacent property. Extensive piles of scrap automobiles, parts, and remnants were present. Drums cut in half were seen on the study site, along with old overturned ASTs, remnants of which were unknown. None of these issues would have come to light through a records review alone. The point is, the site inspection component of a Phase I Environmental Site Assessment becomes particularly important when the transaction involves a higher risk on-site operation. A little research goes a long way prior to ordering a due diligence assessment.
However.......
When we arrived at the site to perform the inspection, a massive junk/salvage yard operation was observed on an adjacent property. Extensive piles of scrap automobiles, parts, and remnants were present. Drums cut in half were seen on the study site, along with old overturned ASTs, remnants of which were unknown. None of these issues would have come to light through a records review alone. The point is, the site inspection component of a Phase I Environmental Site Assessment becomes particularly important when the transaction involves a higher risk on-site operation. A little research goes a long way prior to ordering a due diligence assessment.
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