Commercial Real Estate
|Give a man the possession of a bleak rock, and he
will turn it into a garden; give him a nine years’ lease of a garden,
and he will convert it into a desert… The magic of PROPERTY turns sand
Journal entries for July 30 and November 7, 1787
|Range of Services Offered:
I Environmental Site Assessments
II Environmental Site Investigations
Action Oversight and On-going Monitoring
Recent trends in
federal, state, and local law dictate that if a purchaser of real property
fails to detect hazardous materials including petroleum hydrocarbons on
the site before or during escrow, the cleanup can become the new owner’s
pre-transaction environmental assessment of the site assures owners,
developers, commercial real estate professionals, government redevelopment
agencies, and lending institutions that all due diligence activities
related to environmental concerns have been executed in accordance with
the most stringent industry standards.
Targhee’s objective is to provide our clients with the
environmental information necessary to make an informed decision regarding
a real property transaction and its on-going management.
The purpose of a
Phase I Environmental Site Assessment is to meet one of the requirements
that will qualify a buyer for the innocent landowner defense under the Comprehensive
Environmental Response, Compensation, and Liability Act (CERCLA).
The term “recognized environmental condition” is used to establish a standard of good commercial and
customary practice for conducting an environmental site assessment.
In its most common usage, “recognized environmental condition”
means the presence or likely presence of any hazardous substance or
petroleum product on a property under conditions that indicate an existing
release, a past release or a material threat of a release into structures
on the property or into the soil, groundwater or surface water of the
property. The term includes
hazardous substances or petroleum products even under conditions in
compliance with law.
Normally, the Phase
I Environmental Site Assessment process can be completed within 15 working
days. In its report, Targhee
focuses on factual information relevant to the property transaction and
includes its professional opinion and conclusions.
Phase I Environmental Site Assessments are conducted by California
Environmental Protection Agency Class I Registered Environmental
report provides each client with an accurate, thorough environmental
profile of the subject property. Upon
request, Targhee can also address liability control strategies,
investigate business environmental risks that may be associated with the
property, and carry out a more detailed Phase II Environmental Site
Investigation. Each report is
reviewed and approved by an experienced environmental attorney prior to
its release to a client. No
one, unless authorized by our client, has access to the information
If the results of
the Phase I Environmental Site Assessment indicate strong evidence of
contamination, a client may
ask us to propose a site-specific, effective, economical, and
scientifically valid approach to examine the property further.
The goal at this point is to ascertain whether an environmental
liability truly exists and, if present, what the potential economic costs
associated with that liability are. Targhee
generally does not recommend groundwater sampling during the initial Phase
II Environmental Site Investigation. Contaminated groundwater flowing under a property is not
necessarily the responsibility of the property owner. Once the analytical results of the investigation are
received, Targhee prepares a report detailing the approach used in
conducting the investigation, the results of the soil analysis and
conclusions. This information
is presented in a clear, concise manner easily understood by clients.
Environmental Risk Analysis bridges the gap between the Phase I
Environmental Site Assessment and the Initial Study conducted under the
California Environmental Quality Act (CEQA) or the National Environmental
Protection Act (NEPA). A
Phase I Environmental Site Assessment can be expanded to include topics
such as the presence of asbestos-containing materials, radon, lead-based
paint, wetlands, regulatory compliance, cultural and historic resources,
industrial hygiene, health and safety, ecological resources that may be
impacted by development, and other risks that may have a material
environmental or environmentally-driven impact on the business associated
with the current or planned use of a parcel of commercial real estate.
frequently called upon to comment on property rehabilitation
strategies and, where appropriate, present alternative and more
cost-effective mechanisms for removal of chemical contaminants.
Clients range from prospective purchasers of small retail strips to
national corporations with operations located throughout the United
States. If our client
acquires a Brownfield, we often serve as oversight consultants during the
remediation to ensure that our client’s interests are properly
represented throughout the cleanup process.