What is a Phase I Environmental Site Assessment?

A Phase I Environmental Site Assessment (ESA) is a report prepared by an environmental professional to identify potential environmental concerns associated with a commercial property. It typically includes a review of historical records, site observations, and other available information.

Many lenders require a Phase I ESA before financing certain commercial properties. Its purpose is to identify potential issues that may warrant additional investigation rather than confirming contamination exists.

If environmental questions arise during your property search, I’d be happy to discuss where a Phase I ESA fits into the overall due diligence process.