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Environmental Due Diligence Consulting 

"It's an investment, not a product"

Environmental Due Diligence Consulting

Due diligence assessments are not commodities, they’re an investment in your future, and are valuable tools for you to use to reduce your potential liabilities and effectively maximize your real estate investments.

 

We evaluate former and current property operations and activities, and identify potential liabilities, constraints, and opportunities for capital maximization associated with a property’s existing and potential future uses.

The FalconRE Group offers all types of environmental due diligence packages to suit every client’s need, budget, and objective:

 

  • ASTM 1527-13 Phase I Environmental Site Assessments (Phase I ESAs)

  • New Jersey Preliminary Assessment (PA) Reports (PARs)

  • Hybrid PA/Phase I reports

  • Desktop reviews

  • Historical Resource Review

  • File Reviews

  • Site inspections

 

Your goals are unique, and so are you – let’s design your tailor-made due diligence package together. 

Phase I ESAs, Preliminary Assessments, and What You Need in New Jersey

Though Phase I ESAs are commonly performed at the request of financial institutions for financing purposes, they are designed to satisfy one of the requirements to qualify for the innocent landowner, contiguous property owner, or bona fide prospective purchaser limitations on CERCLA liability (1), and the Environmental Protection Agency (EPA) All Appropriate Inquiry (AAI) Rule (2).

However, did you know that, contrary to most states, New Jersey has not adopted the federal All Appropriate Inquiries rule but instead has its own unique definition for satisfying "all appropriate inquiry"?  

In New Jersey, "all appropriate inquiry" is defined as the performance of a preliminary assessment, and site investigation, if the preliminary assessment indicates that a site investigation is necessary (3).

Therefore, if you're performing commercial real estate due diligence in New Jersey, and want to qualify for both federal and state innocent purchaser liability protections, you need to perform both an ASTM Phase I ESA and a NJDEP Preliminary Assessment.

The FalconRE Group offers both reports, of course, as well as a hybrid PA/Phase I report that satisfies both federal and state innocent purchaser liability protections.

(1) - Comprehensive Environmental Response, Compensation and Liability Act (42 U.S.C. §9601)

(2) - Subsection 312.10 of 40 Code of Federal Regulations 312 (40 CFR §312)

(3) - N.J.S.A. 58:10-23.11g(d)(2)