Environmental Due Diligence
MEI offers several environmental due diligence options to protect your commercial real estate purchase. We help the client identify and evaluate potential and know environmental risks associated with their property / prospective property (subject property) or risk from off-site environmental sites. The evaluation consists of a comprehensive historic review of the subject property and surrounding area, and a government records review of environmental sites and databases on or near the property under consideration, the subject property. Often times, the EP will determine that the subject property needs an environmental site inspection to pin-point any known or suspected risk(s) visual risk; for example, the identification of a fill pipe associated with a buried underground tank (shown in picture below).
An Environmental Desktop Report is a limited-scope assessment, which is often used as a cost-effective initial screening tool of the subject property in order to assess a level of environmental risk associated with the property, originating from the property itself or from risk factors attributed to adjacent and/or surrounding properties. An example would be the purchase of a multi-tenant apartment complex caddy-corner to the gas station that leaked petroleum back in the 1980's. If the gas station contaminated the perched groundwater table and the groundwater flow is determined to be towards the apartment complex, the environmental risk to the subject property would likely be high.
The Desktop report requires no physical site inspection. Often times, the Desktop report is not enough, and a commercial real estate transaction may require breaking out the big guns, using a Phase I Environmental Site Assessment (ESA). The Phase I ESA is a full-scope environmental assessment taking into account a full historical review and review of regulatory actions for not only the subject property, but for the adjoining and surrounding properties as well. This assessment includes and requires a physical on-site inspection to look for signs of environmental contamination and/or environmental features; for example, underground storage tanks, above-ground storage tanks, waste management efforts, visual staining and any environmental factor that could have a detrimental effect or would be considered a potential environmental risk to the the subject property.
Environmental Site Inspections
MEI has over ten years experience completing site reconnaissance inspections for Phase I Environmental Site Assessments. We have completed inspections for gas stations, commercial retail stores, industrial facilities, dry cleaners, multi-complex residential and commercial properties, warehouses, print shops, automotive service facilities, vacant land, agricultural land, and many more types of businesses.
MEI provides inspection services for environmental consultants and private clients, and all MEI inspections are performed with an EP having at least ten years experience doing environmental inspection work.