Environmental Due Diligence
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What Is a Phase II Study in Commercial Real Estate?
Let’s be real: commercial real estate has enough surprises without adding mystery contamination to the mix. Nobody wakes up excited to hear the words Phase II Environmental Site Assessment—except maybe environmental consultants, and even they usually need coffee first. But if you’re buying, selling, financing, or redeveloping a commercial property, a Phase II study can…
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What Is a Phase 1 Study in Commercial Real Estate?
Cue the dramatic pause. It’s not a sci-fi experiment, and it’s not a weird construction ritual involving hard hats and coffee. In commercial real estate, a Phase 1 study usually means a Phase I Environmental Site Assessment (ESA)—the due diligence report that helps uncover environmental issues before everyone signs their names and hopes for the…