This week, Jeffrey Bolin will begin a series of environmental due diligence forums as part of several continuing-education classes across Michigan.

As part of these discussions, Jeff will address some of the recent developments in conducting Phase I ESAs, changes in vapor intrusion guidelines, some “global” environmental issues, as well as some state-specific environmental assessment and remediation considerations.

Phase I ESA – Protecting Your Investment

It’s no secret that the transactional market has devolved into one focused more on commodity rather than one focused on counsel.  So, while Jeff does a quick, but “deep dig,” into the Phase I and Phase II process and considers various strategies buyers and sellers of commercial/industrial property might consider that best protects their investment, their company, and their shareholders, this approach may be more contrarian than typical.

We don’t mind being contrarian, especially when this gives our clients and contacts the confidence to refer us to their key client, such as a recent referral to a partner in a New York-based Equity firm. This didn’t result in a project, but it did lead to this email that read in part,

Thanks for reaching out and thanks again for the advice yesterday and for taking a few minutes to speak with me. I was impressed not only with the simple elegance of your solution, but also, and importantly, that you were willing to share it…you’re a good man. I do hope we are able to find a way to use your firm at some point or at least be able to recommend you to others…

We’ll continue to reach out to those who are equally contrarian and prefer counsel and advice over the herd mentality that seeks only the lowest price without consideration of the inherit risks in such an approach.

If you have questions about an environmental due diligence issue, or would like to know more about what Jeff is sharing in these forums, you can reach him at jbolin@dragun.com, or by telephone at 248-932-0228, ext 125.