Today, almost any firm can call itself a site assessment company. And that, said Joseph D. Adams, vice president in charge of the national environmental assessment program of Warzyn Inc. of Itasca, should be a major concern to those contemplating a sale or purchase of commercial real estate.
”The push now is to come up with national standards or a state licensing procedure governing Phase I assessments,” he said. Currently, a group called the American Society for Testing Materials is developing standards for such assessments.
Until state licenses and national standards are adopted, Adams believes those involved in commercial and industrial real estate transactions should follow guidelines when selecting an environmental site assessment firm.
First, buyers or sellers ought to consult their banks and/or law firms for names of companies they`ve dealt with before. ”Most banks have a list of firms they`ve used in the past,” Adams said.
Next, those parties seeking the assessment should call several different companies. ”Ask them the following,” Adams said. ”How long has the firm been in business? How long have they been doing environmental assessments, and what kind of insurance do they carry?”
Adams emphasizes the importance of the last point. ”The firm selected should have professional liability insurance, and their policy should not have exclusions for environmental work,” Adams said.
In addition, the references supplied by the firms should be thoroughly investigated. Site assessment is very much a word-of-mouth business. If substandard work has been done in the past, that fact won`t be hidden long.
Finally, check the educational background, training and experience of those undertaking the site assessment. ”You basically want the resume of the person assessing the site,” Adams said.
