An REC is defined by the ASTM E1527-13 Standard as “…the presence or likely presence of any hazardous substances or petroleum products on a property under conditions that indicate an existing release, past release, or a material threat of a release of any hazardous substances or petroleum products in, on, or at a property: (10) due to the release to the environment; (2) under a condition indicative of a release to the environment; or (3) under conditions that pose a material threat of a future release to the environment.”
Phase I environmental site assessments are conducted for real estate transactions such as land purchases, building purchases, leases, business purchases, new residential/commercial developments and real estate financing. A Phase I Environmental Site Assessment is the gold standard for evaluating environmental liabilities associated with real estate assets. Whether the property is industrial, commercial, mixed-use, multifamily, VJ Engineering has the capabilities to fully assess recognized environmental conditions (RECs) they may present environmental liabilities. VJ Engineering’s staff are experts at the implementation of the ASTM E1527-13 Phase I Standard. Our assessments are done by Environmental Professionals who meet the requirements of the Environmental Protection Agency’s All Appropriate Inquiry standards. Don’t get stuck with a lemon! Always have an environmental professional complete a PIESA when purchasing real estate assets.