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GEC conducted a Phase I Environmental Site Assessment for a client looking to relocate its business to a, Massachusetts property formerly operated as a trucking company and found that the property was a State Disposal Site that achieved regulatory closure via a Class A-2 RAO. As groundwater data were conspicuously absent from the RAO, GEC recommended groundwater sampling and found petroleum contamination related to historical releases. GEC completed additional environmental assessment, achieved a proper regulatory closure and secured financing. The client renegotiated the purchase price to reflect the true environmental liability and acquire the property.
GEC conducted a Phase I Environmental Site Assessment at an industrial property in Massachusetts located within the boundaries of a Superfund Site. GEC’s investigations enabled the client to secure funding to acquire and redevelop the property, and facilitated the purchase of an environmental insurance policy to guard against future environmental liabilities. The former Brownfield property now operates as an active commercial lumberyard.
GEC conducted a Phase I Environmental Site Assessment at a former dry cleaner in Massachusetts and recommended soil and groundwater sampling to determine if historic chlorinated solvent use had impacted the subsurface. Elevated levels of dry cleaning solvents were found beneath the building. GEC developed a scope of work and cost estimate for assessment and remediation activities. The lender used GEC’s cost estimate to establish an escrow account for environmental work, which enabled the property transaction to proceed prior to achieving regulatory closure for the solvent release.
At a multi-family residential property in Massachusetts GEC conducted a Phase I Environmental Site Assessment and coordinated asbestos and lead-based paint testing for the prospective purchaser. Among other concerns, GEC identified two abandoned 20,000-gallon #2 fuel oil underground storage tanks (USTs). GEC recommended tank tightness testing to assure that the tanks were in good condition. Both tanks failed the tightness test and the client negotiated removal of the tanks prior to taking title to the property.
GEC has conducted over 100 assessments pursuant to the EOEEA Land Acquisition Policy for Environmental Site Assessments on behalf of the Massachusetts Department of Conservation and Recreation, the Division of Capital Asset Management, and the Division of Fish and Wildlife. In addition, GEC conducts numerous land acquisition assessments for The Nature Conservancy. These properties range in size from less than one acre to over 1,000 acres.
GEC conducts Phase I Environmental Site Assessments lenders considering foreclosure. In conducting foreclosure assessments, GEC conducts surveys for Asbestos-Containing Materials, Lead-Based Paint, and Mold in addition to completing all assessment activities within the scope of ASTM E1527-05 and All Appropriate Inquiry(AAI). When potential environmental liabilities are identified, GEC develops recommendations and a cost estimate and maps out a plan of action for addressing the liabilities immediately following foreclosure so the property can be quickly redeployed to the market.