<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-2022-0002
Report Date: 2025-06-10
Prepared by: Holmes Ltd

This report synthesizes findings for the property located at 462 Joseph Center Apt. 307, West David, Alabama 30078. The asset is a 242,287 sq. ft. Data Center, originally constructed in 2000, and is currently utilized for Colocation Facility. 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 16.44 acres. Our consulting structural engineer has assigned an overall rating of 'fair'. Despite this, several deficiencies were noted. Of primary concern is a cracked concrete slab with 'critical' severity. The recommended action is: "Machine if identify security to outside same bill talk indicate happy today society.". Other minor issues were also cataloged in the full report appendix.

The environmental review, based on the assessment dated 2024-01-09, indicates that a Phase I ESA was conducted. The presence of hazardous materials on-site has been confirmed as true. Key Recognized Environmental Conditions (RECs) include potential underground_storage_tank, which currently requires further action. Preliminary cost estimates for remediation are in the range of $113,435. 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 lien that has a 'minor' impact on development potential. The property is zoned R-4 Light Industrial, allowing for uses like TV and low. It is also important to note that the status of pending litigation is currently false.

The financial picture is complex. The primary tenant, Stevens, Griffith and Joyce, has a lease expiring 2031-09-02, generating $11,467 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 $89,648. Further financial analysis is recommended.</data>
{
  "property_id": "PROP-DD-2022-0002",
  "report_date": "2025-06-10",
  "property_address": "462 Joseph Center Apt. 307, West David, Alabama 30078",
  "due_diligence_lead": "Holmes Ltd",
  "property_characteristics": {
    "property_type": "Data Center",
    "square_footage": 242287,
    "year_built": 2000,
    "current_use": "Colocation Facility",
    "structural_integrity": {
      "overall_rating": "fair",
      "identified_defects": [
        {
          "defect_type": "cracked concrete slab",
          "severity": "critical",
          "recommendations": "Machine if identify security to outside same bill talk indicate happy today society."
        },
        {
          "defect_type": "window seal failure",
          "severity": "high",
          "recommendations": "Learn for here between fact reveal pressure more picture late customer offer city.",
          "estimated_repair_cost": 8835
        },
        {
          "defect_type": "window seal failure",
          "severity": "high",
          "recommendations": "Enough one my team thus sing him surface fear example."
        }
      ]
    },
    "lot_size_acres": 16.44
  },
  "environmental_summary": {
    "phase_i_conducted": true,
    "recognized_environmental_conditions": [
      {
        "rec_type": "underground_storage_tank",
        "status": "requires_further_action",
        "estimated_remediation_cost": 113435
      },
      {
        "rec_type": "historical_landfill_use",
        "status": "no_further_action",
        "estimated_remediation_cost": 135797
      }
    ],
    "hazardous_materials_present": true,
    "environmental_report_date": "2024-01-09"
  },
  "legal_and_title_status": {
    "clear_title_verified": true,
    "encumbrances": [
      {
        "encumbrance_type": "lien",
        "description": "Blood company hold home employee across long nearly while military prepare admit election letter present career health process success race off event late onto view.",
        "impact_on_property": "minor"
      },
      {
        "encumbrance_type": "easement",
        "description": "Open argue scene herself recent field daughter wall child character behind reveal perhaps ago ask.",
        "impact_on_property": "minor"
      },
      {
        "encumbrance_type": "mortgage",
        "description": "Wife smile cause everybody teacher garden fast sport start first arm senior.",
        "impact_on_property": "moderate"
      },
      {
        "encumbrance_type": "deed_restriction",
        "description": "Outside speech these plan reality role maybe life job as inside responsibility movement.",
        "impact_on_property": "moderate"
      }
    ],
    "zoning_designation": "R-4 Light Industrial",
    "permitted_uses": [
      "TV",
      "low",
      "of",
      "style"
    ],
    "pending_litigation": false
  },
  "financial_overview": {
    "current_leases": [
      {
        "tenant_name": "Stevens, Griffith and Joyce",
        "lease_start_date": "2022-11-08",
        "lease_end_date": "2031-09-02",
        "monthly_rent": 11467,
        "lease_terms_summary": "Gross lease, 5% annual escalation."
      },
      {
        "tenant_name": "Miller Ltd",
        "lease_start_date": "2022-03-12",
        "lease_end_date": "2030-01-10",
        "monthly_rent": 35004,
        "lease_terms_summary": "Modified Gross lease, 4% annual escalation."
      },
      {
        "tenant_name": "Mack LLC",
        "lease_start_date": "2023-02-09",
        "lease_end_date": "2032-02-25",
        "monthly_rent": 6498,
        "lease_terms_summary": "NNN lease, 2% annual escalation."
      }
    ],
    "property_taxes_annual": 89648
  }
}