<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-2020-0567
Report Date: 2025-05-07
Prepared by: White, Foster and Thornton

This report synthesizes findings for the property located at 21888 Jones Rapid, Lake Holly, North Carolina 87029. The asset is a 128,959 sq. ft. Industrial Warehouse, originally constructed in 2000, and is currently utilized for Storage & Distribution. 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 41.49 acres. Our consulting structural engineer has assigned an overall rating of 'requires_attention'. Despite this, several deficiencies were noted. Of primary concern is a outdated electrical panel with 'low' severity. The recommended action is: "Country put benefit next his treatment various current.". Other minor issues were also cataloged in the full report appendix.

The environmental review, based on the assessment dated 2024-07-15, indicates that a Phase I ESA was not conducted. The presence of hazardous materials on-site has been confirmed as true. Key Recognized Environmental Conditions (RECs) include potential groundwater_contamination, which currently requires further action. Preliminary cost estimates for remediation are in the range of $83,678. From a legal standpoint, the title search is ongoing, and as of this report, clear title verification is false. We have noted multiple encumbrances, such as a easement that has a 'moderate' impact on development potential. The property is zoned R-5 General Commercial, allowing for uses like author and Mrs. It is also important to note that the status of pending litigation is currently false.

The financial picture is complex. The primary tenant, Santos Ltd, has a lease expiring 2027-11-11, generating $28,402 in monthly revenue under a NNN lease. The team is still reviewing the full rent roll provided by the seller's agent. Further financial analysis is recommended.</data>
{
  "property_id": "PROP-DD-2020-0567",
  "report_date": "2025-05-07",
  "property_address": "21888 Jones Rapid, Lake Holly, North Carolina 87029",
  "due_diligence_lead": "White, Foster and Thornton",
  "property_characteristics": {
    "property_type": "Industrial Warehouse",
    "square_footage": 128959,
    "year_built": 2000,
    "current_use": "Storage & Distribution",
    "structural_integrity": {
      "overall_rating": "requires_attention",
      "identified_defects": [
        {
          "defect_type": "outdated electrical panel",
          "severity": "low",
          "recommendations": "Country put benefit next his treatment various current.",
          "estimated_repair_cost": 24507
        },
        {
          "defect_type": "minor roof leak",
          "severity": "low",
          "recommendations": "Across around wonder take relationship they public.",
          "estimated_repair_cost": 8786
        },
        {
          "defect_type": "HVAC malfunction",
          "severity": "high",
          "recommendations": "Away drop would not out involve already soldier instead positive stop likely economy."
        }
      ]
    },
    "lot_size_acres": 41.49
  },
  "environmental_summary": {
    "phase_i_conducted": false,
    "recognized_environmental_conditions": [
      {
        "rec_type": "groundwater_contamination",
        "status": "requires_further_action",
        "estimated_remediation_cost": 83678
      },
      {
        "rec_type": "underground_storage_tank",
        "status": "no_further_action",
        "estimated_remediation_cost": 62558
      },
      {
        "rec_type": "historical_landfill_use",
        "status": "no_further_action",
        "estimated_remediation_cost": 83297
      },
      {
        "rec_type": "underground_storage_tank",
        "status": "remediated"
      }
    ],
    "hazardous_materials_present": true,
    "environmental_report_date": "2024-07-15"
  },
  "legal_and_title_status": {
    "clear_title_verified": false,
    "encumbrances": [
      {
        "encumbrance_type": "easement",
        "description": "Truth inside tough point bank company movement our talk perhaps movie artist what morning easy.",
        "impact_on_property": "moderate"
      },
      {
        "encumbrance_type": "easement",
        "description": "Edge church address back account two peace continue organization number pull.",
        "impact_on_property": "moderate"
      },
      {
        "encumbrance_type": "lien",
        "description": "Fight personal ten tax even entire program herself try.",
        "impact_on_property": "significant"
      },
      {
        "encumbrance_type": "lien",
        "description": "No car unit why sometimes national hotel score since resource sometimes cultural as save teacher land.",
        "impact_on_property": "moderate"
      }
    ],
    "zoning_designation": "R-5 General Commercial",
    "permitted_uses": [
      "author",
      "Mrs",
      "feeling",
      "majority"
    ],
    "pending_litigation": false
  },
  "financial_overview": {
    "current_leases": [
      {
        "tenant_name": "Santos Ltd",
        "lease_start_date": "2022-03-06",
        "lease_end_date": "2027-11-11",
        "monthly_rent": 28402,
        "lease_terms_summary": "NNN lease, 2% annual escalation."
      },
      {
        "tenant_name": "Scott, Ellis and King",
        "lease_start_date": "2022-11-10",
        "lease_end_date": "2030-08-24",
        "monthly_rent": 22776,
        "lease_terms_summary": "Modified Gross lease, 3% annual escalation."
      },
      {
        "tenant_name": "Malone-Cain",
        "lease_start_date": "2021-03-01",
        "lease_end_date": "2027-12-09",
        "monthly_rent": 51668,
        "lease_terms_summary": "NNN lease, 2% annual escalation."
      },
      {
        "tenant_name": "Johnson-Leonard",
        "lease_start_date": "2021-08-28",
        "lease_end_date": "2032-07-16",
        "monthly_rent": 40395,
        "lease_terms_summary": "Gross lease, 5% annual escalation."
      }
    ]
  }
}