EATONTOWN, NJ – Partner Engineering and Science, Inc, a national provider of environmental and engineering due diligence services, has been rated by EDR ScoreKeeper as the #1 environmental due diligence firm in New Jersey for the 3rd quarter of 2014. Partner’s growth in the tri-state area has been a key focus on the company over the last year.
Since acquiring New Jersey-based engineering and design firm Birdsall Services Group in June 2013, Partner has been able to significantly grow its resources and presence in the State. This expansion has enabled Partner to maintain a strong foothold in New Jersey, where according to EDR’s Scorekeeper it has a 3% market share in the environmental due diligence space.
The due diligence industry is a leading near-term indicator of commercial real estate and construction trends because services like Phase I ESAs are generally required three to four weeks before closing of real estate transactions, financing and development.
Nationally, Partner saw a 32.7% increase in the number of Phase I ESAs it performed compared to the third quarter of the previous year. Frank Romeo, Partner’s Director of East Coast Operations says that this is not only indicative of the performance of the industry as a whole, but also of the industry’s response to recommendations for tighter 3rd party risk management. “As a result of recent guideline changes, such as the revised OCC handbook, many borrowers and lenders are looking to bigger and more stable due diligence firms. Partner has been well-placed to meet this demand” Romeo said.
Partner has provided environmental due diligence services for a number of prolific projects in New Jersey over the last year, including the McGinley Square redevelopment in downtown Jersey City. Partner was also ranked the top provider of ESAs performed by volume nationally, and in the State of California, Idaho, Louisiana, Maine, Minnesota, Nevada, New Mexico, Ohio, Texas, Utah and Washington.
Published by Environmental Data Resources, Inc., the leading 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 providing strategic and quantitative analysis of Phase I Environmental Site Assessment activity nationally, regionally and by state.
For more information, or to schedule an interview with Frank Romeo please contact us.
