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Atlantic Environmental Solutions Celebrates Record Growth
Hoboken-Based Firm Increases Revenue, Staff as Demand for Environmental Real Estate Services Grows
By: Atlantic Environmental Solutions, Inc.
Active in New Jersey, New York and nationally, the firm specializes in the regulatory, technical, and management aspects of environmental issues. AESI routinely performs Phase I Environmental Site Assessments for property buyers, sellers and lenders to help establish "innocent landowner" status in commercial real estate property transactions. The firm also represents roughly 1.5 percent of the productivity under the New Jersey Department of Environmental Protection (NJDEP) Site Remediation Professional (LSRP) Program. To date, the firm has closed 140 LSRP matters and has 314 total LSRP projects.
"Over the past 10 years, AESI has experienced substantial growth, with revenues increasing fourfold," said Michael Novak, LSRP, the firm's president. "During this time AESI has played a significant role in returning numerous contaminated industrial properties to beneficial use with projects that have ranged from asbestos evaluation for 1,500 properties in 47 states for a national retailer to evaluating 1,500 homes impacted by Super Storm Sandy including LSRP services for a city in Hudson County; and over 100 remediation projects for Newark and Port Elizabeth-related industrial and logistics businesses."
Approximately 60 percent of AESI's total revenue today is generated by environmental due diligence and soil and groundwater remediation services. The balance is construction services; asbestos, wetlands and indoor air quality surveys; and professional services including expert testimony and litigation support on multiple environmental matters.
Rapid growth of the New Jersey/New York industrial real estate marketplace is fueling demand for firms that specialize in complex environmental laws and regulations, and has played a significant role in propelling AESI's expansion. "There has been substantial demand for industrial properties, coupled with a high turnover of these assets," said Novak. "Internet shopping, the deepening of the Panama Canal and the raising of the Bayonne Bridge have created the need for more warehouses and logistics facilities."
These and other real estate projects typically require AESI's expertise and capabilities, a trend Novak expects will continue in the foreseeable future. "Maintaining a diverse mix of real estate clients – including industrial, retail, mixed-use residential and office building owners – allows our firm to thrive in the event there is an economic downturn. When economic conditions negatively impact one or more of these market sectors, we have the benefit of continuing to receive project work from sectors where business remains strong," added Novak.
To keep pace with increased client demand, AESI also has increased its professional team with high level, experienced problem-solvers who possess the skills to meet the specific needs of clients and projects. During the past 12 months alone, AESI has added nine new staff members, and expects to fill several more positions in the months ahead. "We are continually expanding our knowledge base and increasing the depth of resources necessary to deliver the highest quality services to new and existing clients," added Novak.
AESI foresees continued business growth in 2018 and beyond, and plans to further expand the footprint of properties that it remediates. "With no sign of market slowdown, AESI is committed to managing and resolving environmental concerns and creating safe, environmentally clean places where residents can live, work and play. We are pleased with our growth trajectory and excited about the opportunities we see in the next few years," said Novak.
Atlantic Environmental Solutions, Inc. (AESI) is a full-service environmental consulting firm active in New Jersey, New York and throughout the U.S., providing a wide range of services to assist clients in complying with complex environmental laws and regulations. With two decades of experience in the regulatory, technical, and management aspects of environmental issues, the Hoboken, N.J.-based firm has handled over $50 million in environmental projects at over 5,000 client locations across 47 states. Whether working with municipalities, industrial brokerage firms, transit village developers, REITS, general contractors, or utilities, AESI is committed to managing and resolving environmental concerns to save clients time and money and to ensure a better quality of life for communities and their residents.
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Evelyn Weiss Francisco