ESE recently completed environmental due diligence and a regulatory compliance evaluation of a portfolio of convenience stores (C-stores) in various geographic locales throughout the State of Texas. The portfolio included the evaluation of facilities that were designated for acquisition as well as existing sites that were being refinanced. Each of the locations evidenced an extensive operating history and almost all were legacy Leaking Petroleum Storage Tank (LPST) sites registered with the Texas Commission on Environmental Quality. The intent of the acquisition and refinancing was to fund upgrades associated with the existing fuel dispensing equipment and to renovate each location to allow for the continued commercially viability.
ESE’s objectives included providing the client with a Phase I Environmental Site Assessment inclusive of regulatory file reviews and a limited compliance evaluation associated with the ongoing use of the operation of underground storage tanks at each facility.
ESE was contracted by a financial institution to provide environmental due diligence and regulatory compliance services for a portfolio of operating C-stores. The scope of work provided by ESE is summarized below.