As part of a purchase, Partner was contracted by the client to perform a Phase I Environmental Site Assessment (ESA) on a 48-site industrial portfolio, 11 of which resulted in identification of recognized environmental conditions (RECs). After much negotiation, the seller allowed limited Phase II screenings (sub-slab soil gas screenings and indoor air sampling) on four of the 11 sites. To mitigate the environmental risks associated with the purchase of the portfolio, Partner was engaged to prepare a Remedial Cost Estimate (RCE), utilizing the data collected during the Phase I and Phase II screening, as well as several assumptions where limited or no data was available. The RCE was utilized as a tool to support the purchase agreement between Rexford and the seller.

Due to the structure of the deal, the biggest challenge was the time constraints for the project, which was exacerbated by the data needs and limited staff and laboratory supply availability. To meet the needs of the client, projects were conducted simultaneously, with several of the project staff and subcontractors mobilizing back and forth between sites. In addition, sampling timeframes were limited to tenant operating hours, which was only conveyed to Partner on the day of sampling.

Partner was engaged to perform an RCE on the 11 sites with identified RECs on a one-day turnaround time, which was accomplished by bringing in several internal resources working in tandem to meet the deadline. Staff members worked around the clock to produce the final work product within the allotted timeframe.

With the final work products (Phase I, Phase II Screenings, and RCE), the client was able to negotiate a deal and close on the 48-site portfolio.