phase 1 environmental

Definition

A preliminary environmental assessment investigating a property's potential contamination history through records review and site inspection, without actually testing soil or water. It's due diligence for avoiding EPA superfund surprises.

Example Usage

The Phase 1 environmental report revealed the property was a former dry cleaner, triggering the need for further testing.

Origin

Terminology from the ASTM E1527 standard established in 1993 for environmental site assessments

Fun Fact

Finding contamination without a Phase 1 report can make you legally responsible for cleanup costs even if you didn't cause the pollution, under CERCLA liability rules.

Source: Commercial real estate environmental assessment terminology

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