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Environmental Property Report Demand Rises 10% in Q1

TORRANCE, CA-The increase in Phase I ESA’s ordered indicates steady improvement in the national real estate markets, says engineering-consulting firm Partner Engineering and Science Inc.

By Carrie Rossenfeld | Updated on May 18, 2012

TORRANCE, CA-A 10.7% jump in demand for environmental property reports ordered during first-quarter 2012 is a sign to environmental consultants that the national real estate markets are well on the road to recovery. Property buyers and lenders nationally ordered 49,355 Phase I Environmental Site Assessments in the first quarter, as compared to 44,599 in the first quarter of 2011, according to Environmental Data Resources Inc., a recognized market monitor and information-services firm. Based on this increase in ESAs, experts say the nation should see stronger volumes in real estate transactions in the coming months.

“Generally, lenders and buyers hire firms such as Partner to do a Phase I ESA to clear the path to a loan financing a property sale,” says Joseph Derhake, president of Partner Engineering and Science Inc., an engineering consulting firm here that provides ESAs in support of commercial real estate transactions. “When we send more personnel out into the field to assess and test property, it means bankers and escrow officers are getting busier.”

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