Caltha LLP Project Summary
Project: Pre-Acquisition Due Diligence Assessment
Client: National Retail Chain
Location(s): Illinois, Minnesota
Key Elements: Phase 1 ESA
Overview: This project was performed for an Illinois-based drug store chain. Work was to perform environmental due diligence for three store locations they intended to acquire, and comprised of a Phase 1 Environmental Site Assessment, performed in accordance with ASTM 1527-05. The Phase 1 ESA determined that a historical leaking underground storage tank (LUST), which had been discovered during redevelopment of the property for the current retail use had never been closed. Although active remediation of the property had ceased several years prior, the redeveloper had failed to prepare the final submittals required by the State of Illinois to close out the LUST. The current property owner was required to produce evidence of LUST closure prior to sale of the property.
For more information on Caltha LLP services, go to the Caltha Contact Page