Phase I Environmental Site Assessments (Phase I ESAs) are an important tool to manage risk during a commercial real estate transaction. A Phase I ESA is used to evaluate the environmental liability associated with a real estate asset of any type. The KBA team is adept at providing assessments on a broad array of commercial real estate property types.
Phase I ESA Scope:
- Site Visit
- Historical Research
- Geology and Hydrogeology
- Regulatory Research
- Interview and Document Review
The EPA’s All Appropriate Inquires Rule governs the scope of Phase I Environmental Site Assessments and provided specific scope requirements for a Phase I ESA to meet the requirements of CRECLA’s innocent land owner defense.