<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-2024-0501
Report Date: 2024-09-19
Prepared by: Cruz-Mckinney

This report synthesizes findings for the property located at 8735 Patel Harbor, North Jamesland, Michigan 54959. The asset is a 197,163 sq. ft. Data Center, originally constructed in 2006, 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 59.9 acres. Our consulting structural engineer has assigned an overall rating of 'fair'. Despite this, several deficiencies were noted. Of primary concern is a minor roof leak with 'critical' severity. The recommended action is: "Address information dog yes avoid see continue market consider peace doctor capital onto various actually future one town himself happen.". Other minor issues were also cataloged in the full report appendix.

The environmental review, based on the assessment dated 2023-08-31, 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 historical_landfill_use, which currently no further action. Preliminary cost estimates for remediation are in the range of $211,936. 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 C-5 General Commercial, allowing for uses like color and mention. It is also important to note that the status of pending litigation is currently false.

The financial picture is complex. The primary tenant, Smith, Harper and Smith, has a lease expiring 2029-05-20, generating $41,026 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 $53,202. Further financial analysis is recommended.</data>
{
  "property_id": "PROP-DD-2024-0501",
  "report_date": "2024-09-19",
  "property_address": "8735 Patel Harbor, North Jamesland, Michigan 54959",
  "due_diligence_lead": "Cruz-Mckinney",
  "property_characteristics": {
    "property_type": "Data Center",
    "square_footage": 197163,
    "year_built": 2006,
    "current_use": "Colocation Facility",
    "structural_integrity": {
      "overall_rating": "fair",
      "identified_defects": [
        {
          "defect_type": "minor roof leak",
          "severity": "critical",
          "recommendations": "Address information dog yes avoid see continue market consider peace doctor capital onto various actually future one town himself happen."
        },
        {
          "defect_type": "minor roof leak",
          "severity": "low",
          "recommendations": "Remember lay leave they decide event notice huge summer term phone major movie from own."
        }
      ]
    },
    "lot_size_acres": 59.9
  },
  "environmental_summary": {
    "phase_i_conducted": true,
    "recognized_environmental_conditions": [
      {
        "rec_type": "historical_landfill_use",
        "status": "no_further_action",
        "estimated_remediation_cost": 211936
      },
      {
        "rec_type": "historical_landfill_use",
        "status": "monitoring_required",
        "estimated_remediation_cost": 90710
      }
    ],
    "hazardous_materials_present": false,
    "environmental_report_date": "2023-08-31"
  },
  "legal_and_title_status": {
    "clear_title_verified": false,
    "encumbrances": [
      {
        "encumbrance_type": "covenant",
        "description": "Trial the other career instead yes hospital few method compare she daughter mouth along leader.",
        "impact_on_property": "significant"
      },
      {
        "encumbrance_type": "easement",
        "description": "Center imagine house just the sometimes day sport energy order role anything traditional other expect.",
        "impact_on_property": "moderate"
      },
      {
        "encumbrance_type": "lien",
        "description": "Position degree particular capital exactly reality mind piece pass would as true Mrs.",
        "impact_on_property": "significant"
      }
    ],
    "zoning_designation": "C-5 General Commercial",
    "permitted_uses": [
      "color",
      "mention",
      "nothing"
    ],
    "pending_litigation": false
  },
  "financial_overview": {
    "current_leases": [
      {
        "tenant_name": "Smith, Harper and Smith",
        "lease_start_date": "2022-01-26",
        "lease_end_date": "2029-05-20",
        "monthly_rent": 41026,
        "lease_terms_summary": "Modified Gross lease, 3% annual escalation."
      },
      {
        "tenant_name": "Clark, West and Gibbs",
        "lease_start_date": "2023-09-14",
        "lease_end_date": "2031-06-03",
        "monthly_rent": 54989,
        "lease_terms_summary": "Gross lease, 4% annual escalation."
      }
    ],
    "property_taxes_annual": 53202
  }
}