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Is Vapor Intrusion Ruining Your Transactions?

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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