National Due Diligence Program Management
A long-time client and major petroleum marketer is pursuing a real estate transaction that would result in the sale of more than 1,200 active retail service station properties across the United States. As a requirement of the sales agreement, the client needed to conduct a Phase I environmental site assessment (ESA) for each site within an 11-week period. The properties ranged in size and geography, including service stations along major toll roads and interstates, rural roads, and busy, urban locations.
GES was awarded a portfolio of 716 sites – more than half of the total sites in the client’s program. GES performed ASTM-compliant due diligence assessments for a multi-state portfolio that spanned 16 states.
The work was completed on a fast-paced, transaction-driven schedule utilizing digital applications and software for records review, mapping, field data and site inspection reporting, and overall report preparation. GES personnel conducted physical inspections at all 716 sites using web-enabled tablets and smart phones to complete pre-populated field forms electronically. Employees from 23 GES offices around the country were engaged to help facilitate data collection for expedited turnaround times. A dedicated Quality Control team remained in the office to review information with technicians in the field to ensure adequate data were collected in a single field visit. The paperless process employed throughout the project facilitated streamlined reporting and enhanced consistency in the report format.
Close coordination was maintained with the client to manage potential reporting conditions and to maintain confidentiality of business issues. GES also advised the client of potential follow-up assignments that may be required due to state-specific requirements beyond ASTM standards.
Final deliverables were submitted prior to the client’s deadline, on-budget, and with minimal feedback from the buyer’s consultant, helping to advance the real estate transaction process. GES staff mobilized in the field in a responsive manner without safety incident. As a result of GES’ program management execution, the client awarded GES follow-on assignments for all required Phase II ESAs and hazardous materials surveys identified during the initial 1,200-site Phase I program. Upon completion, the client will finalize its sales agreement and close the real estate transaction.