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December 3, 2013

Ira Grossman explains some of the intricacies of a zoning compliance report.

By Partner ESI

THE POTENTIAL LIABILITY AND IMPACT OF VAPOR INTRUSION ISSUES HAS BEEN OF INCREASING CONCERN.

The potential liability and impact on property value due to vapor intrusion into a property’s structures has been of increasing concern to developers, lenders and other parties involved in commercial real estate transactions. Recent changes in ASTM International’s ASTM E1527 standard regarding site investigations, and in the U.S. Environmental Protection Agency’s All Appropriate Inquiry requirements, have now greatly increased the likelihood that vapor intrusion risk will be explicitly addressed by consultants in Phase I Environmental Site Assessments. The prior ASTM E1527-05 standard for Phase I ESAs has now been revised by issuance of ASTM E1527-13, “Standard Practice For Environmental Site Assessment: Phase I Environmental Site Process.” By revising the definition of migration and by other changes, the standard clarifies that vapor intrusion is to be considered in Phase I ESAs.

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Partner ESI

Partner ESI

Founded in 2007, Partner Engineering and Science Inc., is the leading provider of engineering, environmental, energy, and construction consulting for the commercial real estate (CRE) industry. Touching 1 in 5 CRE transactions in the U.S., Partner is widely recognized as the largest and best provider of third-party physical due diligence reports, including Phase I Environmental Site Assessments, Property Condition Assessments, Seismic Risk Assessments, Zoning Reports, ALTA Land Title Surveys, and Construction Risk Management. Partner’s connectedness to the CRE market gives it an unparalleled view into CRE trends and risk management insights. Partner also provides a full suite of consulting services to support the entire real estate lifecycle, including: Geotechnical Consulting; Building Systems Consulting; Capital Management and Project Implementation Support; Environmental Health & Safety Consulting; Energy, Sustainability & Resilience Consulting; and Site Civil Engineering. With a responsive approach scaled for speed and agility, Partner helps clients manage risk, make smart investments, optimize asset performance, and win at their real estate investment strategies. Based in Torrance, Calif., Partner has over 1,400 employees in 40 offices around the globe.

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