BLOOMINGTON, MN – Partner Engineering and Science, Inc. tied for the top spot as Minnesota’s leading provider of Phase I Environmental Site Assessments by volume in the 3rd quarter of 2014, as ranked by EDR’s ScoreKeeper Report. Published by Environmental Data Resources, Inc., the principal provider of environmental risk information services and related workflow applications in the country, the EDR Scorekeeper is the market monitor for the environmental due diligence industry. It provides strategic and quantitative analysis of Phase I Environmental Site Assessment activity nationally, regionally and by State.
Partner performs an impressive 8% of all Phase I ESAs conducted in the State of Minnesota. “Our presence in Minnesota has been quickly growing thanks to our highly qualified pool of local staff” said Partner’s Director of Operations, Steve Kitzke. “Having local experts with a deep knowledge of applicable standards and regulations, as well as local environmental and geographic conditions is important to deliver the best service to clients in this region”
According to the EDR Scorekeeper, Partner exactly doubled the number of Phase 1 ESAs in the third quarter of 2014 compared to the same time the year before. Environmental due diligence services such as Phase I ESAs are seen as a leading indicator of market movement, as they are typically performed 3 weeks before deals close.
The Torrance, California-headquartered firm also was also rated as the leading provider Phase I ESAs performed nationally, and in the States of California, Idaho, Louisiana, Maine, Nevada, New Jersey, New Mexico, Ohio, Texas, Utah and Washington.
“Our strong third quarter is indicative of an increasing uptick in CRE transactions, but is also reflective of an industry-wide trend of consolidation. In response to more explicit recommendations for tighter 3rd party vendor risk management, for example in the revised OCC guidelines, the industry is moving toward bigger, more stable due diligence firms” said Kitzke, who is based in the company’s Bloomington, MN office. With 28 offices nationwide and a large staff of qualified professionals, Partner has been well-placed to respond to this increased demand for services.
“Partner has been able to grow steadily by servicing a wide range of real estate transactions, including new loans, foreclosures as well as new construction projects,” says Kitzke. “The breadth of our expertise means that we can evaluate a real estate asset’s environmental liability under all accepted standards, while at the same time understanding the business objectives and special needs and requirements of a wide range of clients.”
For more information, or to schedule an interview with Partner or other industry expert attendees, please contact Steve Kitzke.
