The recent escalation of broad-based U.S. import tariffs is introducing a fresh set of headwinds—and some unexpected opportunities—for commercial real estate (CRE) in the New York City tri-state region. While much of the focus has been on manufacturing and trade, the ripple effects (regardless of...
Occasionally, ESA encounters projects where Industrial Site Recovery Act (ISRA) triggers have been overlooked. A common assumption is that the current owner or operator must comply with a prior ISRA trigger. However, that is not always the case. The following guidance explains how to potentially...
Landlords who lease to ISRA-subject tenants need do certain things to protect their properties and overall financial interests. Owning an industrial property in New Jersey comes with unique environmental compliance responsibilities. The New Jersey Department of Environmental Protection (NJDEP) enforces the Industrial Site Recovery Act...
How NJDEP Remediation Certification can reduce time to closing a sale. As we all know, if your property is subject to an ISRA action, you must undertake a series of environmental steps to demonstrate that the site is clean. Often, these steps can take months,...
From ESA's perspective, it is difficult to imagine a profession where client advocacy is more impactful than in environmental consulting. After all, where else can a seemingly straight-forward $5,000 project transform into a six-figure, bank-account-draining nightmare in the blink of an eye? The reality is...
According to the New Jersey Department of Environmental Protection (NJDEP) Division of Water Supply and Geoscience (DWSG), over 20,000 new permits are issued to drill wells in the state of New Jersey each year. If you own or are considering purchasing a property in New...
The following cautionary tale highlights the importance of conducting proper due diligence on residential properties prior to purchase. ESA was retained to conduct underground storage tank (UST) removal and New Jersey Department of Environmental Protection (NJDEP) closure of three USTs located at a residential property located...
Our topic of discussion this month centers on how the current economy and recent New Jersey regulatory changes may be affecting the timelines and costs of environmental compliance in New Jersey. The New Jersey Department of Environmental Protection (NJDEP) is one of the country’s most dynamic...
When buying real property, it is important to conduct a Phase I or Preliminary before the purchase in order to avoid potential costly environmental liability. In New Jersey, simply purchasing a property can enter you into the environmental liability chain, even if you were in...
Chris Venezia, ESA's Director of LSRP Services, explains the Innocent Purchaser Defense as it pertains to the environmental aspects of purchasing real property in New Jersey. https://www.youtube.com/watch?v=x3755H-rguE Typically, real property investments with the potential to yield the greatest return come with the greatest risk. And there are...