The Commercial Real Estate Informational Portal

Welcome to CRE-Expert.com

Welcome to the Commercial Real Estate Expert Blog! A host of industry leading real estate professionals, lawyers, and consultants providing the latest in real estate relevant news and advice.

Partner Alert: ASTM Publishes Phase I ESA Standard

The long anticipated update to ASTM’s Phase I Environmental Site Assessment standard has finally been published.  ASTM E1527-13 will take effect immediately and will replace the E1527-05 standard as the industry best practice for Phase I ESAs.

The changes do not significantly alter the Phase I ESA report or process, but there are a few key changes you should be aware of.  Click here for more information.

Partner is Ready
All new Partner Phase I ESAs will meet the E1527-13 standard effective immediately.  Partner has already been meeting most of the requirements of E1527-13 as standard practice.

Partner is an active member of the ASTM committee tasked with updating the E1527 standard.  We have been involved throughout the committee’s revision process and are fully prepared to implement the new standard.

Price and Turnaround Time
There has been much debate about whether the new standard will raise prices or increase turnaround time for Phase I ESAs, particularly due to a greater emphasis on conducting file reviews and assessing vapor migration risk.

Because our standard practice has already met most of E1527-13’s requirements, our Phase I ESA prices and turnaround times will not increase due to this standard.

Consultants who were not previously meeting these requirements may choose to raise prices or increase turnaround times.

For More Information
For information, definitions and articles on the new standard click here.