Due diligence has become a standard business practice for real estate and business transactions. Through its comprehensive offering of due diligence services, BEI helps minimize unnecessary expenditures for our clients, while minimizing their environmental risk and providing them with the detailed information they need to make sound investment decisions. Following a proven, cost-effective approach, BEI conducts due diligence by inspecting a site to identify any existing or potential environmental concerns that could impact the value of the property. If required, BEI experts develop a work plan and cost estimate for effective remediation. Many leading firms rely on our due diligence services because of our team’s technical expertise, extensive experience and use of state-of-the-art information and mapping technology. Our Due Diligence Services include:
- ASTM Phase I and Phase II Environmental Site Assessments. BEI has extensive experience in performing American Society for Testing and Materials (ASTM) Phase I Environmental Site Assessments (ESAs), guiding clients through every step of the process. BEI strongly recommends that potential buyers of industrial or commercial property have an ASTM Phase I ESA performed before purchasing to assess the site’s environmental condition. Following guidelines established by the ASTM, BEI will gain information through a Phase I ESA that enables us to render a professional opinion on the property’s environmental status, identifying any existing or potential environmental concerns that may impact the value of the site. This aids in obtaining financing, in securing an “innocent land owner” exemption once the site is acquired, and in facilitating real estate transactions, property development and a host of other situations. If concerns regarding existing or potential contaminants or other issues arise during the Phase I assessment, BEI is highly qualified to perform an ASTM Phase II ESA to conduct additional testing or evaluation.
- ASTM Transaction Screens. A Transaction Screen is more cost-effective than an ASTM Phase I Environmental Site Assessment (ESA) but, unlike an ESA, it does not meet Environmental Protection Agency (EPA) requirements for an All Appropriate Inquiry and therefore does not protect the property owner from liability for non-compliance with the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA). However, many investors, lenders or brokers effectively use Transaction Screens as part of a multi-faceted environmental assessment. Leveraging our deep experience in performing transaction screens, BEI delivers to clients comprehensive reports on the property’s environmental status, identifying any existing or potential liabilities.
- NJ ISRA Preliminary Assessments, Investigations and Related Compliance Services. Property owners and operators of industrial establishments are jointly liable for compliance with the New Jersey Industrial Site Recovery Act (ISRA). BEI’s Licensed Site Remediation Professionals (LSRPs) have in-depth knowledge of ISRA requirements and extensive experience in the ISRA process, beginning with a Preliminary Assessment (PA). Through the PA audit, our LSRPs gain the information they need to assess a site’s environmental issues and complete the ISRA process by providing a Response Action Outcome (RAO).