The current standard for the Phase I Environmental Site Assessment, ASTM E1527-13, is up for renewal, with a final deadline for the new E1527-21 standard in January 2021, when the current standard sunsets. Over the course of 2018 and 2019, the committee has met on numerous occasions to propose and discuss revisions. Volunteer focus groups, consisting of environmental professionals, lenders, and environmental attorneys, have evaluated the 2013 ASTM standard for issues, feedback, new concerns, or revisions that take into consideration the need of the users (CRE stakeholders) and the producers (consultants, Environmental Professionals, and the lawyers who fall in between).
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September 27, 2024
In commercial real estate transactions, particularly convenience stores (C-stores) with gas stations, conducting the Phase I Environmental Site Assessment (ESA) is traditionally considered to be the buyer's responsibility. However, sellers can also benefit significantly from conducting a Phase I ESA before listing their property for sale.
September 23, 2024
When it comes to PFAS risk and liability, assembling a team of experts is crucial. It is advisable that you rely on the expertise, guidance, and insights of an experienced environmental consultant, a knowledgeable environmental attorney, and a skilled insurance broker familiar with emerging contaminants.
August 29, 2024
Lenders, Buyers, and Sellers Should Know Their Options to Ensure That Environmental Issues Don’t Derail Their CRE Transactions By Wes Skinner, CHMM, Published on August 29, 2024 in GlobeSt.com CMBS […]
