Phase II Environmental Site Assessment
A Phase II Environmental Site Assessment (ESA) is often the second step in the environmental due diligence process. If a recognized environmental condition, or REC, is identified in a Phase I ESA or if petroleum products or hazardous substances are otherwise known or suspected on a property, a Phase II ESA is used to evaluate the presence of contaminants in the soil, soil gas, and/or groundwater. A Phase II ESA can help protect an owner against substantial long-term costs and environmental liabilities and help provide a buyer or lender with information to better understand the potential business risk and to negotiate a better price.