Tri-State Environmental Services, Inc’s Post

With the recent uptick in property purchases, many of our clients are finding themselves considering properties that might be on contaminated land. It’s important to know that even if a property is on contaminated ground, there are still viable options to move forward. The Michigan Department of Environment, Great Lakes, and Energy (EGLE) has a comprehensive guide on "Due Care" that outlines the responsibilities and opportunities for buyers dealing with such properties. Whether you're a developer, investor, or potential property owner, understanding these guidelines can make all the difference in making informed decisions. https://lnkd.in/eT43Tk8d

I just found a potential self-storage site. Why do I need a Phase 1 Environmental Site Assessment? A Phase 1 Environmental Site Assessment (ESA) is a detailed investigation conducted to evaluate the environmental condition of a property and identify any potential contamination or environmental liabilities. This assessment is typically performed during real estate transactions, property development, or financing to ensure that the property complies with environmental regulations and to assess any risks that may impact the property's value or usability. The main components of a Phase 1 ESA include. Records Review. Reviewing historical documents such as aerial photographs, land use records, city directories, and fire insurance maps to determine past uses of the property and identify any potential sources of contamination. Regulatory Records. Checking databases and records from local, state, and federal environmental agencies for any records of spills, releases, or environmental violations associated with the property. Site Inspection. Conducting a physical inspection of the property to identify any visible signs of contamination or potential environmental concerns. Current Use. Observing current activities on the property and adjacent properties that could pose environmental risks. Physical Evidence. Looking for signs of hazardous substances, such as storage tanks, drums, chemical spills, or stressed vegetation. Interviews. Talking to current and past property owners, occupants, and others familiar with the property to gather information about its history and any known environmental issues. Report Preparation. The property's historical and current use. The results of the site inspection. Any identified environmental concerns or recognized environmental conditions (RECs). Recommendations for further investigation or remediation if necessary. The goal of a Phase 1 ESA is to identify any potential environmental liabilities before a property transaction is completed, helping buyers, sellers, and lenders make informed decisions. If significant concerns are identified, a Phase 2 ESA, which involves more detailed testing and analysis, may be recommended. Follow us at Storagepointcapital.com to learn more about how you can actively or passively be a part of the best-in-class commercial real estate asset. Have a self-storage facility to sell or land for self-storage development? Let's talk. Call, text, or email me today! Ed Clement Director of Business Development, Storage Point Capital eclement@storagepointcapital.com (727) 946-0745 https://lnkd.in/grecpSm3 #selfstoragebusiness #selfstorage #business #selfstorageinvesting #realestateinvestor #commercialrealestate #selfstorageindustry #selfstoragedevelopment #investing

I just found a potential self-storage site. Why do I need a Phase 1 Environmental Site Assessment? A Phase 1 Environmental Site Assessment (ESA) is a detailed investigation conducted to evaluate the environmental condition of a property and identify any potential contamination or environmental liabilities. This assessment is typically performed during real estate transactions, property development, or financing to ensure that the property complies with environmental regulations and to assess any risks that may impact the property's value or usability. The main components of a Phase 1 ESA include. Records Review. Reviewing historical documents such as aerial photographs, land use records, city directories, and fire insurance maps to determine past uses of the property and identify any potential sources of contamination. Regulatory Records. Checking databases and records from local, state, and federal environmental agencies for any records of spills, releases, or environmental violations associated with the property. Site Inspection. Conducting a physical inspection of the property to identify any visible signs of contamination or potential environmental concerns. Current Use. Observing current activities on the property and adjacent properties that could pose environmental risks. Physical Evidence. Looking for signs of hazardous substances, such as storage tanks, drums, chemical spills, or stressed vegetation. Interviews. Talking to current and past property owners, occupants, and others familiar with the property to gather information about its history and any known environmental issues. Report Preparation. The property's historical and current use. The results of the site inspection. Any identified environmental concerns or recognized environmental conditions (RECs). Recommendations for further investigation or remediation if necessary. The goal of a Phase 1 ESA is to identify any potential environmental liabilities before a property transaction is completed, helping buyers, sellers, and lenders make informed decisions. If significant concerns are identified, a Phase 2 ESA, which involves more detailed testing and analysis, may be recommended. Follow us at Storagepointcapital.com to learn more about how you can actively or passively be a part of the best-in-class commercial real estate asset. Have a self-storage facility to sell or land for self-storage development? Let's talk. Call, text, or email me today! Ed Clement Director of Business Development, Storage Point Capital eclement@storagepointcapital.com (727) 946-0745 https://lnkd.in/grecpSm3 #selfstoragebusiness #selfstorage #business #selfstorageinvesting #realestateinvestor #commercialrealestate #selfstorageindustry #selfstoragedevelopment #investing

😶 You paid $3k for what? [and we didn’t even own the building yet] ✅ A Phase I Environmental Site Assessment (ESA) ESAs are an important part of the Due Diligence process for evaluating industrial buildings. 😴 Snooze, Ava (I know).  I’ll keep this high level. What is a Phase I? 👉 Simplest terms: a report done by a third party documenting the current & historical use of a building. As a potential buyer, Phase I helps us understand  If there might be hazardous contaminants from previous tenants or owners. Phase I investigators often look at: - Historical use of the building & other nearby properties  - Records of hazardous chemicals, spills, or storage - Underground storage tanks & if they are in good shape  - Regulatory violations & fire insurance maps  - Federal, state, county, & city databases What's a practical example of what this might uncover? 🔴 Buildings used for dry cleaning & gas stations are known to have  Spills or leaks that lead to soil & groundwater contamination. If a REC ☣ (recognized environmental concern) like that is discovered, It triggers the more in-depth Phase 2 to analyze & test further. ⚠ Environmental clean up is VERY expensive & time consuming. Uncovering environmental issues is enough to kill a deal Or at least, a conversation about a very different price. 🤚 We want to know before we buy (not after) all the reasons or ways a deal could go south. A Phase I can help us answer that question!

🌟 Webinar Alert 🌟 Navigating Local Law 157 in New York City? Senet and our partner ProSentry have you Covered! Attention NYC business owners and property managers! Local Law 157 is here, and it’s crucial to understand its implications for your operations. Similar legislation is making its way across the country and globally, and understanding how to maintain compliance is essential to avoid penalties. Join us in staying ahead of the curve! See registration link below 👇 #NYC #LocalLaw157 #BusinessCompliance

When it comes to evaluating the value of a property, appraisers must consider a wide range of factors, including its condition, location, and overall quality. However, when a property is affected by environmental concerns such as lead paint or asbestos, the appraisal process can become much more complex; where you might even have to hire a professional asbestos abatement contractor is things get worse. In this blog, we’ll explore how appraisers handle properties with environmental concerns, providing valuable insights and advice for real estate professionals and homeowners alike. READ MORE: https://lnkd.in/eX6vTZKT

Unlock the Best Insights for Your Commercial Transactions !   Yesterday, I had the opportunity to advise one of our clients on selecting the most comprehensive reports for a commercial property transaction. The property in question was a college with adjoining land, and we began by asking a crucial question: What is the future use of the land—will it remain as-is, or are there redevelopment plans? This approach ensures that we recommend the most suitable environmental report, one that's thoroughly assessed by an environmental consultant.   We also guided them on obtaining a utilities report. As an independent provider, we have the flexibility to source reports from both well-known and independent suppliers, often securing faster turnaround times with accurate information.   When it comes to commercial properties, we ensure our clients receive a complete and precise picture of all potential risks, ready to present to prospective purchasers. In addition to the usual local authority and drainage reports, we recommended an extent of highways search to clarify the status of surrounding roads and pathways.   Is your current search provider delivering this level of personalized service? If not, reach out to us today. Our expert team works with a variety of suppliers to tailor our services to your specific needs. Let's ensure your transactions are supported by the most insightful reports available.   #CommercialRealEstate #PropertySearches #ClientFocused #TransactionSupport #EnvironmentalReports #UtilitiesReports #ExpertAdvice WHITEFIELD LEGAL SERVICES Sharon Whitney IPSA - Association of Independent Personal Search Agents IPSA Searches  

𝗣𝗿𝗼𝗽𝗲𝗿𝘁𝘆 𝗗𝘂𝗲 𝗗𝗶𝗹𝗶𝗴𝗲𝗻𝗰𝗲: A Must-Have Checklist for Every Real Estate Investor Investing in real estate is an exciting venture, but it's crucial to cross your T's and dot your I's before sealing any deal. A thorough due diligence process is the backbone of every successful property investment. Here’s a comprehensive checklist that can help you avoid common pitfalls and make informed decisions: 𝗣𝗿𝗼𝗽𝗲𝗿𝘁𝘆 𝗜𝗻𝘀𝗽𝗲𝗰𝘁𝗶𝗼𝗻: ↳ Evaluate the condition of the building's structure, roof, walls, and foundations. ↳ Check for signs of water damage, pest infestation, or other deterioration. 𝗟𝗲𝗴𝗮𝗹 𝗖𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲: ↳ Ensure the property complies with zoning laws, building codes, and safety regulations. ↳ Verify that all property modifications have the necessary permits. 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗔𝗻𝗮𝗹𝘆𝘀𝗶𝘀: ↳ Review current leases, rent rolls, and vacancy rates. ↳ Analyze historical operating statements and project future cash flows. 𝗘𝗻𝘃𝗶𝗿𝗼𝗻𝗺𝗲𝗻𝘁𝗮𝗹 𝗔𝘀𝘀𝗲𝘀𝘀𝗺𝗲𝗻𝘁: ↳ Conduct an environmental audit to identify potential liabilities like asbestos, mold, or soil contamination. 𝗧𝗶𝘁𝗹𝗲 𝗮𝗻𝗱 𝗢𝘄𝗻𝗲𝗿𝘀𝗵𝗶𝗽: ↳ Confirm the property’s title is clear of encumbrances and liens. ↳ Ensure there are no unresolved disputes or legal entanglements. 𝗠𝗮𝗿𝗸𝗲𝘁 𝗮𝗻𝗱 𝗔𝗿𝗲𝗮 𝗔𝗻𝗮𝗹𝘆𝘀𝗶𝘀: ↳ Study market trends, neighborhood conditions, and future development plans in the area. ↳ Assess the local demand for property and potential for appreciation. Always engage with experts—real estate attorneys, accountants, and property inspectors to provide deep insights and professional evaluations. P.S What other can be further added in this checklist? #investing #realestate #commercialrealestate

Attention Southern New England & Cape Cod Coastal Homeowners! Have you heard about the new Title V Regulations taking effect in Summer 2023? If your septic system falls within the "MassDEP Nitrogen Sensitive Area", it may need to be updated to an innovative/alternative system. Did you know that around 80% of the nitrogen entering the watersheds on the Cape are from septic systems, leading to pollution in bays and estuaries? Don't worry, NE Services Inc is here to help. Our team is well-equipped to handle these upgrades. Give us a call to schedule a consultation to learn how we can help. www.neservicesinc.com #TitleVRegulations #SepticSystemUpgrades #NEServicesInc #CapeCod #CoastalHomeowners #southshorema

In Queensland, if you are Selling a residential property, you are required to disclose certain information to the Buyers before they enter into a contract. For example, you must: - give a disclosure notice to a prospective buyer if the property has a pool and there is no pool safety certificate. There is also an obligation to provide a pool safety certificate or notice of no pool safety certificate to a buyer before settlement. - disclose all encumbrances affecting the property. - notify the buyer if the property is recorded on the contaminated land or environmental management register, or if there is an application or an order about a tree on the property. If you are selling a unit or townhouse, you must also provide the buyer with information about the body corporate. Additionally, before settlement you must: - advise the buyer whether the property has compliant smoke alarms and an approved electricity safety switch - obtain and give the buyer a clearance certificate from the Australian Taxation Office. Contact us at info@onenesslore.com.au or www.onenesslore.com.au for your free consultation today.