<format type="json">{property_id: string, report_date: date, property_address: string, due_diligence_lead: string, property_characteristics: {property_type: string, square_footage: number, year_built: number, lot_size_acres: number optional, current_use: string, structural_integrity: {overall_rating: string, identified_defects: list[{defect_type: string, severity: string, estimated_repair_cost: number optional, recommendations: string}]}}, environmental_summary: {phase_i_conducted: boolean, recognized_environmental_conditions: list[{rec_type: string, status: string, estimated_remediation_cost: number optional}], hazardous_materials_present: boolean, environmental_report_date: date}, legal_and_title_status: {clear_title_verified: boolean, encumbrances: list[{encumbrance_type: string, description: string, impact_on_property: string}], zoning_designation: string, permitted_uses: list[string], pending_litigation: boolean optional}, financial_overview: {current_leases: list[{tenant_name: string, lease_start_date: date, lease_end_date: date, monthly_rent: number, lease_terms_summary: string}] optional, property_taxes_annual: number optional} optional}</format> <data>INTERNAL MEMORANDUM: Due Diligence Synthesis Report
Reference ID: PROP-DD-2020-0883
Report Date: 2024-09-01
Prepared by: Greer, Cooper and Reed

This report synthesizes findings for the property located at 276 Luke Expressway Suite 905, Stephanieport, New Jersey 29464. The asset is a 197,499 sq. ft. Mixed-Use Development, originally constructed in 1974, and is currently utilized for Residential & Commercial. The project team's initial site walk was completed without incident, though weather conditions were less than ideal. The structure sits on a parcel of approximately 72.42 acres. Our consulting structural engineer has assigned an overall rating of 'fair'. Despite this, several deficiencies were noted. Of primary concern is a HVAC malfunction with 'critical' severity. The recommended action is: "Ability behavior activity show seat another public majority.". Other minor issues were also cataloged in the full report appendix.

The environmental review, based on the assessment dated 2024-03-13, indicates that a Phase I ESA was conducted. The presence of hazardous materials on-site has been confirmed as false. Key Recognized Environmental Conditions (RECs) include potential asbestos_containing_materials, which currently requires further action. Preliminary cost estimates for remediation are in the range of $237,953. From a legal standpoint, the title search is ongoing, and as of this report, clear title verification is true. We have noted multiple encumbrances, such as a deed_restriction that has a 'moderate' impact on development potential. The property is zoned M-3 Light Industrial, allowing for uses like set and wish. The financial picture is complex. The primary tenant, Barron, Gray and Lopez, has a lease expiring 2032-04-12, generating $43,774 in monthly revenue under a Gross lease. The team is still reviewing the full rent roll provided by the seller's agent. The annual property tax burden was last assessed at $16,971. Further financial analysis is recommended.</data>
{
  "property_id": "PROP-DD-2020-0883",
  "report_date": "2024-09-01",
  "property_address": "276 Luke Expressway Suite 905, Stephanieport, New Jersey 29464",
  "due_diligence_lead": "Greer, Cooper and Reed",
  "property_characteristics": {
    "property_type": "Mixed-Use Development",
    "square_footage": 197499,
    "year_built": 1974,
    "current_use": "Residential & Commercial",
    "structural_integrity": {
      "overall_rating": "fair",
      "identified_defects": [
        {
          "defect_type": "HVAC malfunction",
          "severity": "critical",
          "recommendations": "Ability behavior activity show seat another public majority."
        },
        {
          "defect_type": "HVAC malfunction",
          "severity": "low",
          "recommendations": "But himself fact indicate scientist culture all might ability medical Republican notice impact capital surface.",
          "estimated_repair_cost": 16394
        },
        {
          "defect_type": "HVAC malfunction",
          "severity": "critical",
          "recommendations": "Phone radio along return successful contain see firm.",
          "estimated_repair_cost": 13292
        },
        {
          "defect_type": "minor roof leak",
          "severity": "medium",
          "recommendations": "Section involve game force real blood suddenly.",
          "estimated_repair_cost": 16770
        },
        {
          "defect_type": "window seal failure",
          "severity": "low",
          "recommendations": "Drug goal role call central green door should life available guy certain.",
          "estimated_repair_cost": 44729
        }
      ]
    },
    "lot_size_acres": 72.42
  },
  "environmental_summary": {
    "phase_i_conducted": true,
    "recognized_environmental_conditions": [
      {
        "rec_type": "asbestos_containing_materials",
        "status": "requires_further_action",
        "estimated_remediation_cost": 237953
      },
      {
        "rec_type": "soil_contamination",
        "status": "monitoring_required",
        "estimated_remediation_cost": 48271
      },
      {
        "rec_type": "asbestos_containing_materials",
        "status": "monitoring_required",
        "estimated_remediation_cost": 170985
      },
      {
        "rec_type": "historical_landfill_use",
        "status": "no_further_action"
      }
    ],
    "hazardous_materials_present": false,
    "environmental_report_date": "2024-03-13"
  },
  "legal_and_title_status": {
    "clear_title_verified": true,
    "encumbrances": [
      {
        "encumbrance_type": "deed_restriction",
        "description": "Century southern not themselves social against sea present sea read.",
        "impact_on_property": "moderate"
      },
      {
        "encumbrance_type": "mortgage",
        "description": "Upon which begin general positive true business too time exist perform seven treat ten point.",
        "impact_on_property": "significant"
      }
    ],
    "zoning_designation": "M-3 Light Industrial",
    "permitted_uses": [
      "set",
      "wish",
      "concern"
    ]
  },
  "financial_overview": {
    "current_leases": [
      {
        "tenant_name": "Barron, Gray and Lopez",
        "lease_start_date": "2023-07-13",
        "lease_end_date": "2032-04-12",
        "monthly_rent": 43774,
        "lease_terms_summary": "Gross lease, 5% annual escalation."
      },
      {
        "tenant_name": "Powell-Holland",
        "lease_start_date": "2021-03-13",
        "lease_end_date": "2030-12-08",
        "monthly_rent": 32900,
        "lease_terms_summary": "NNN lease, 2% annual escalation."
      },
      {
        "tenant_name": "Smith Group",
        "lease_start_date": "2022-04-07",
        "lease_end_date": "2032-03-01",
        "monthly_rent": 45101,
        "lease_terms_summary": "Gross lease, 5% annual escalation."
      },
      {
        "tenant_name": "Barr, Logan and Jordan",
        "lease_start_date": "2022-05-17",
        "lease_end_date": "2028-09-23",
        "monthly_rent": 10684,
        "lease_terms_summary": "NNN lease, 2% annual escalation."
      }
    ],
    "property_taxes_annual": 16971
  }
}