Environmental Transaction Screen Process
Transaction screens are conducted for a variety of reasons to establish a baseline of a commercial property or communications project site. Our team has conducted thousands of transaction screens.
Transaction Screen for Commercial and Tower Development
Purchasing or leasing commercial real estate requires careful examination of environmental conditions to minimize liability risks. An Environmental Transaction Screen Process (TSP) offers a streamlined assessment to identify potential contamination issues on a property. Compared to a comprehensive Phase I Environmental Site Assessment (ESA), a TSP provides a more limited yet faster and affordable environmental review.
Why Our Environmental Consulting Firm Should Be Your First Call
When seeking an environmental TSP, expertise and responsiveness matter. Our firm holds over a decade of specialized experience assisting commercial clients across industries including commercial properties. What are some of our deliverables?
- A Transaction Screen report compliant with ASTM Standard E 1528
- High-quality color report e-mailed to the client
- A link to download the full report in PDF format
- Qualified personnel to perform site visit, report preparation, and review
- Dedicated project manager to ensure project quality and schedule
- Standard two (2) week turnaround (faster turnaround times available)
We aim to become your go-to environmental solutions partner.
Gaining a Clear Understanding: The Environmental TSP
An Environmental Transaction Screen Process involves limited scrutiny of a commercial property’s environmental condition to help buyers, sellers, and lenders identify contamination risks early. The TSP does not provide the legal liability protections of a Phase I ESA yet offers a quicker initial assessment of issues requiring further inspection.
4 Components of TSP
- Site Interview: Discussion with owner/occupants regarding property history
- Site Walkthrough: Visual inspection of interior/exterior conditions
- Record Search: Review of regulatory agency records for activity related to storage tanks, hazardous materials usage, spills, or disposal
- Report: Summary detailing findings, data gaps, conclusions, and recommendations
ASTM Standard E1528 provides strict guidelines for conducting TSPs focused on commercially reasonable inquiry. Our team holds advanced training and years of experience implementing the TSP per these industry standards.
Step-By-Step: How an Environmental Transaction Screen Process Unfolds
Each transaction screen process involves systematic environmental scrutiny tailored to the property. Here is an overview of how our inspection team conducts a compliant E1528 TSP:
Initial Client Consultation
We begin every project by consulting directly with the client to define goals, address concerns, outline deliverables, and set expectations regarding limitations. This ensures the TSP meets the intended purpose.
Site Interview & Walkthrough
The TSP next involves an on-site interview with current occupant(s) to gather details on past/current operations and observed environmental issues. The team then conducts a walkthrough visual inspection of interior and exterior areas documenting site conditions.
Concurrently, staff will perform a search of federal, state, tribal, and local regulatory records focused specifically on the target parcel. This identifies permits, violations, incidents, or other events related to possible contamination.
Reporting & Recommendations
Finally, the project manager compiles all documentation into a TSP report identifying any potential environmental concerns like storage tanks, dumping areas, chemical storage, asbestos, lead paint, etc. The report concludes with recommendations such as additional testing or inspection scope.
Gaining Value from Your Environmental Transaction Screen Process Report
The transaction screen report serves to inform property transactions by raising awareness of contamination risks needing further attention. Key to extracting value are the report’s:
- Summary & Recommendations: Concise overview of most significant findings requiring consideration.
- Prioritized Issues: Contamination concerns ranked by severity based on multiple risk factors.
- Data Gaps: Missing documentation that could alter understanding of site conditions.
- Inaccessible Areas: Portions of site where visual inspection was not possible.
- Appendices: Supporting regulatory records, site photographs, floor plans, and other reference documentation.
If potential issues arise, we provide clear advice on additional assessment needs and can coordinate more advanced inspections using our in-house team.
Get Started with a Free TSP Consultation
If purchasing, selling, or leasing commercial property in the near future, get started by contacting our office for a tailored consultation at no cost. We welcome any questions on what an environmental TSP entails and how it supports your upcoming transaction by identifying contamination risks upfront. Reach out at your convenience online and our team looks forward to assisting you.
Rely on Our Experts for Defensible Transaction Screen Processes
Require urgent yet credible environmental screening to keep your commercial real estate, corporate finance, or private equity transaction on schedule? As pioneering practitioners of the ASTM 1528 standard, our team prioritizes rapid yet fully defensible TSP services so you can transact with confidence. Contact us to tailor the ideal environmental solutions for your next deal.
Frequently Asked Questions About Transaction Screen Process
What does an environmental transaction screen cost?
Costs range $1,200-$4,000 depending mostly on property type, size, location, and inspection scope. We provide quotes upfront based on your needs with no hidden fees.
How long does the TSP process take?
For a standard TSP, clients receive reports in 5-10 business days. We complete over 90% in under two weeks while still performing thorough due diligence.
Can a TSP replace a high-risk Phase I ESA?
No. For transactions on high-risk sites or seeking liability defenses, a Phase I ESA remains necessary and advisable. The TSP only conducts an initial screen of conditions warranting further review.
What if contamination is found during the TSP?
The report will detail next steps like further sampling, inspection scope, or risk mitigation solutions. Our team can coordinate any follow-on assessment seamlessly keeping transactions moving forward.
How does the TSP support my commercial real estate transaction?
By providing rapid yet compliant environmental screening, the TSP report allows all parties to make informed decisions, negotiate risk allocation, and scope any needed additional due diligence.
Ready to learn more about our services? Send us a note and we’ll reach out to you ASAP!