<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-2023-0888
Report Date: 2024-09-17
Prepared by: Rivera, Contreras and Morgan

This report synthesizes findings for the property located at 50188 Bennett Underpass, North Richard, Nebraska 11645. The asset is a 213,308 sq. ft. Industrial Warehouse, originally constructed in 1989, and is currently utilized for Logistics Hub. The project team's initial site walk was completed without incident, though weather conditions were less than ideal. Our consulting structural engineer has assigned an overall rating of 'sound'. Despite this, several deficiencies were noted. Of primary concern is a HVAC malfunction with 'high' severity. The recommended action is: "Case time I leader practice apply key then many under truth meeting thought alone.". Other minor issues were also cataloged in the full report appendix.

The environmental review, based on the assessment dated 2024-06-20, 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 soil_contamination, which currently remediated. 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 C-2 Light Industrial, allowing for uses like half and develop. The financial picture is complex. The primary tenant, Montes-Kelly, has a lease expiring 2032-06-18, generating $45,068 in monthly revenue under a Modified 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 $96,393. Further financial analysis is recommended.</data>
{
  "property_id": "PROP-DD-2023-0888",
  "report_date": "2024-09-17",
  "property_address": "50188 Bennett Underpass, North Richard, Nebraska 11645",
  "due_diligence_lead": "Rivera, Contreras and Morgan",
  "property_characteristics": {
    "property_type": "Industrial Warehouse",
    "square_footage": 213308,
    "year_built": 1989,
    "current_use": "Logistics Hub",
    "structural_integrity": {
      "overall_rating": "sound",
      "identified_defects": [
        {
          "defect_type": "HVAC malfunction",
          "severity": "high",
          "recommendations": "Case time I leader practice apply key then many under truth meeting thought alone.",
          "estimated_repair_cost": 11407
        },
        {
          "defect_type": "cracked concrete slab",
          "severity": "medium",
          "recommendations": "Discussion room cost natural practice ever wear nearly give coach."
        }
      ]
    }
  },
  "environmental_summary": {
    "phase_i_conducted": false,
    "recognized_environmental_conditions": [
      {
        "rec_type": "soil_contamination",
        "status": "remediated"
      },
      {
        "rec_type": "groundwater_contamination",
        "status": "requires_further_action",
        "estimated_remediation_cost": 153609
      },
      {
        "rec_type": "underground_storage_tank",
        "status": "no_further_action",
        "estimated_remediation_cost": 123598
      }
    ],
    "hazardous_materials_present": true,
    "environmental_report_date": "2024-06-20"
  },
  "legal_and_title_status": {
    "clear_title_verified": false,
    "encumbrances": [
      {
        "encumbrance_type": "easement",
        "description": "Happen dream sell along day certainly town human meeting decision north perhaps two what bit character majority recent question discover set thought.",
        "impact_on_property": "moderate"
      },
      {
        "encumbrance_type": "deed_restriction",
        "description": "Contain choose behavior rule once key war little against rock move east debate.",
        "impact_on_property": "minor"
      }
    ],
    "zoning_designation": "C-2 Light Industrial",
    "permitted_uses": [
      "half",
      "develop",
      "wind"
    ]
  },
  "financial_overview": {
    "current_leases": [
      {
        "tenant_name": "Montes-Kelly",
        "lease_start_date": "2022-01-29",
        "lease_end_date": "2032-06-18",
        "monthly_rent": 45068,
        "lease_terms_summary": "Modified Gross lease, 4% annual escalation."
      },
      {
        "tenant_name": "Franklin LLC",
        "lease_start_date": "2021-04-11",
        "lease_end_date": "2030-01-02",
        "monthly_rent": 23896,
        "lease_terms_summary": "Modified Gross lease, 5% annual escalation."
      },
      {
        "tenant_name": "Stone LLC",
        "lease_start_date": "2021-05-06",
        "lease_end_date": "2028-12-14",
        "monthly_rent": 48144,
        "lease_terms_summary": "Modified Gross lease, 5% annual escalation."
      },
      {
        "tenant_name": "Morgan-Reed",
        "lease_start_date": "2021-01-07",
        "lease_end_date": "2032-06-09",
        "monthly_rent": 7435,
        "lease_terms_summary": "NNN lease, 5% annual escalation."
      }
    ],
    "property_taxes_annual": 96393
  }
}