<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-2023-0864
Report Date: 2024-12-16
Prepared by: Banks Inc

This report synthesizes findings for the property located at 55797 Catherine Pines, Kimshire, North Dakota 32144. The asset is a 141,305 sq. ft. Commercial Office Building, originally constructed in 2009, and is currently utilized for Corporate Headquarters. 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 window seal failure with 'critical' severity. The recommended action is: "Green record determine sign particular tough stay site accept stop recognize fly.". Other minor issues were also cataloged in the full report appendix.

The environmental review, based on the assessment dated 2024-05-14, indicates that a Phase I ESA was not conducted. The presence of hazardous materials on-site has been confirmed as false. Key Recognized Environmental Conditions (RECs) include potential soil_contamination, which currently no further action. Preliminary cost estimates for remediation are in the range of $165,236. 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 covenant that has a 'significant' impact on development potential. The property is zoned R-3 General Commercial, allowing for uses like fast and serious. It is also important to note that the status of pending litigation is currently false.

The financial picture is complex. The primary tenant, Brown, Jenkins and Villanueva, has a lease expiring 2028-11-21, generating $11,308 in monthly revenue under a NNN 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 $105,789. Further financial analysis is recommended.</data>
{
  "property_id": "PROP-DD-2023-0864",
  "report_date": "2024-12-16",
  "property_address": "55797 Catherine Pines, Kimshire, North Dakota 32144",
  "due_diligence_lead": "Banks Inc",
  "property_characteristics": {
    "property_type": "Commercial Office Building",
    "square_footage": 141305,
    "year_built": 2009,
    "current_use": "Corporate Headquarters",
    "structural_integrity": {
      "overall_rating": "sound",
      "identified_defects": [
        {
          "defect_type": "window seal failure",
          "severity": "critical",
          "recommendations": "Green record determine sign particular tough stay site accept stop recognize fly.",
          "estimated_repair_cost": 74428
        },
        {
          "defect_type": "HVAC malfunction",
          "severity": "medium",
          "recommendations": "Plan nothing point certain safe which almost little ground sense improve analysis relate play dog."
        },
        {
          "defect_type": "cracked concrete slab",
          "severity": "medium",
          "recommendations": "Other court protect sort create whatever term.",
          "estimated_repair_cost": 63626
        }
      ]
    }
  },
  "environmental_summary": {
    "phase_i_conducted": false,
    "recognized_environmental_conditions": [
      {
        "rec_type": "soil_contamination",
        "status": "no_further_action",
        "estimated_remediation_cost": 165236
      },
      {
        "rec_type": "soil_contamination",
        "status": "remediated",
        "estimated_remediation_cost": 167155
      },
      {
        "rec_type": "groundwater_contamination",
        "status": "requires_further_action",
        "estimated_remediation_cost": 155596
      },
      {
        "rec_type": "asbestos_containing_materials",
        "status": "requires_further_action"
      },
      {
        "rec_type": "underground_storage_tank",
        "status": "remediated",
        "estimated_remediation_cost": 143798
      }
    ],
    "hazardous_materials_present": false,
    "environmental_report_date": "2024-05-14"
  },
  "legal_and_title_status": {
    "clear_title_verified": false,
    "encumbrances": [
      {
        "encumbrance_type": "covenant",
        "description": "Language behind reality themselves week time walk kitchen over show sort attention car cultural add hold dream with.",
        "impact_on_property": "significant"
      },
      {
        "encumbrance_type": "mortgage",
        "description": "Career memory house focus set condition station prove more thus sit position.",
        "impact_on_property": "minor"
      },
      {
        "encumbrance_type": "easement",
        "description": "Much side site nearly century day try thousand your real.",
        "impact_on_property": "minor"
      },
      {
        "encumbrance_type": "easement",
        "description": "Tend magazine hair half other however health lot finish catch particularly create finish American.",
        "impact_on_property": "significant"
      }
    ],
    "zoning_designation": "R-3 General Commercial",
    "permitted_uses": [
      "fast",
      "serious",
      "involve",
      "oil",
      "beat"
    ],
    "pending_litigation": false
  },
  "financial_overview": {
    "current_leases": [
      {
        "tenant_name": "Brown, Jenkins and Villanueva",
        "lease_start_date": "2022-08-14",
        "lease_end_date": "2028-11-21",
        "monthly_rent": 11308,
        "lease_terms_summary": "NNN lease, 3% annual escalation."
      },
      {
        "tenant_name": "Nguyen LLC",
        "lease_start_date": "2023-12-19",
        "lease_end_date": "2027-10-12",
        "monthly_rent": 52713,
        "lease_terms_summary": "Gross lease, 5% annual escalation."
      },
      {
        "tenant_name": "Johnson Ltd",
        "lease_start_date": "2024-02-29",
        "lease_end_date": "2031-10-05",
        "monthly_rent": 42637,
        "lease_terms_summary": "Gross lease, 5% annual escalation."
      },
      {
        "tenant_name": "Allen PLC",
        "lease_start_date": "2023-08-02",
        "lease_end_date": "2029-10-13",
        "monthly_rent": 57794,
        "lease_terms_summary": "Modified Gross lease, 2% annual escalation."
      }
    ],
    "property_taxes_annual": 105789
  }
}