VERTEX provided pre-acquisition due diligence services for 10 commercial shopping plazas located in Florida, Georgia, Tennessee, and Kentucky. The project was staffed from VERTEX’s offices in Florida and Georgia, allowing VERTEX to complete the portfolio in a timely and cost-effective manner. Services provided included Phase I Environmental Site Assessments (ESAs), including an assessment of suspect asbestos-containing materials, lead-based paint, radon and suspect microbial growth, as well as a Limited Compliance Review. The compliance review evaluated the regulatory status of storage tanks at the properties, hazardous waste management, wastewater, stormwater, emergency planning and community right to know, and air emissions.
VERTEX personnel performed a site visit, interviewed key site personnel, reviewed prior environmental reports, researched the site history, and reviewed public records available at municipal and state offices to evaluate the environmental risk associated with each of the sites. Several of the properties included current and/or former dry cleaners and gasoline stations, and the review included evaluating prior site investigation and remedial work conducted at several of the properties. VERTEX provided ongoing communication regarding identified environmental issues at the sites throughout the assessment period.