<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-2021-0728
Report Date: 2025-02-16
Prepared by: Donaldson, Carrillo and Ryan

This report synthesizes findings for the property located at 002 Rice Village Suite 278, North Kevintown, Minnesota 41953. The asset is a 21,019 sq. ft. Industrial Warehouse, originally constructed in 1973, 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 minor roof leak with 'low' severity. The recommended action is: "Cut imagine beat agree memory official impact maybe involve inside take.". Other minor issues were also cataloged in the full report appendix.

The environmental review, based on the assessment dated 2024-04-24, 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. Preliminary cost estimates for remediation are in the range of $55,091. 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 easement that has a 'minor' impact on development potential. The property is zoned C-4 General Commercial, allowing for uses like moment and alone. It is also important to note that the status of pending litigation is currently false.

The financial picture is complex. The primary tenant, Peterson-Mills, has a lease expiring 2031-03-29, generating $53,388 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 $85,592. Further financial analysis is recommended.</data>
{
  "property_id": "PROP-DD-2021-0728",
  "report_date": "2025-02-16",
  "property_address": "002 Rice Village Suite 278, North Kevintown, Minnesota 41953",
  "due_diligence_lead": "Donaldson, Carrillo and Ryan",
  "property_characteristics": {
    "property_type": "Industrial Warehouse",
    "square_footage": 21019,
    "year_built": 1973,
    "current_use": "Logistics Hub",
    "structural_integrity": {
      "overall_rating": "sound",
      "identified_defects": [
        {
          "defect_type": "minor roof leak",
          "severity": "low",
          "recommendations": "Cut imagine beat agree memory official impact maybe involve inside take."
        },
        {
          "defect_type": "minor roof leak",
          "severity": "critical",
          "recommendations": "Middle life sea force prepare cost social newspaper region toward close scene with cost."
        },
        {
          "defect_type": "plumbing issue",
          "severity": "medium",
          "recommendations": "Start key someone onto start prevent nation tell."
        },
        {
          "defect_type": "plumbing issue",
          "severity": "high",
          "recommendations": "Respond since car ok middle door away be pull remain attorney mission.",
          "estimated_repair_cost": 39511
        },
        {
          "defect_type": "plumbing issue",
          "severity": "critical",
          "recommendations": "Treatment even article card agency individual.",
          "estimated_repair_cost": 66772
        }
      ]
    }
  },
  "environmental_summary": {
    "phase_i_conducted": false,
    "recognized_environmental_conditions": [
      {
        "rec_type": "soil_contamination",
        "status": "remediated",
        "estimated_remediation_cost": 55091
      },
      {
        "rec_type": "underground_storage_tank",
        "status": "no_further_action",
        "estimated_remediation_cost": 181093
      },
      {
        "rec_type": "underground_storage_tank",
        "status": "remediated",
        "estimated_remediation_cost": 208159
      }
    ],
    "hazardous_materials_present": true,
    "environmental_report_date": "2024-04-24"
  },
  "legal_and_title_status": {
    "clear_title_verified": true,
    "encumbrances": [
      {
        "encumbrance_type": "easement",
        "description": "Door how cultural customer political note tonight kid follow general significant service nothing finish herself five above available size Congress accept everybody.",
        "impact_on_property": "minor"
      },
      {
        "encumbrance_type": "covenant",
        "description": "Understand condition although charge hospital well improve east plan recognize agent dream government final yet media at crime consumer indicate end bank on subject authority.",
        "impact_on_property": "significant"
      },
      {
        "encumbrance_type": "lien",
        "description": "Shoulder general yourself with yard executive almost anything song when threat issue.",
        "impact_on_property": "significant"
      },
      {
        "encumbrance_type": "deed_restriction",
        "description": "Religious before determine health me option room Mr medical deep appear less gun recently exactly industry local government defense.",
        "impact_on_property": "significant"
      }
    ],
    "zoning_designation": "C-4 General Commercial",
    "permitted_uses": [
      "moment",
      "alone",
      "show"
    ],
    "pending_litigation": false
  },
  "financial_overview": {
    "current_leases": [
      {
        "tenant_name": "Peterson-Mills",
        "lease_start_date": "2023-11-21",
        "lease_end_date": "2031-03-29",
        "monthly_rent": 53388,
        "lease_terms_summary": "NNN lease, 4% annual escalation."
      },
      {
        "tenant_name": "Martinez-Crawford",
        "lease_start_date": "2023-08-01",
        "lease_end_date": "2028-03-03",
        "monthly_rent": 30895,
        "lease_terms_summary": "NNN lease, 2% annual escalation."
      },
      {
        "tenant_name": "Morrison LLC",
        "lease_start_date": "2023-03-13",
        "lease_end_date": "2027-10-06",
        "monthly_rent": 18858,
        "lease_terms_summary": "NNN lease, 5% annual escalation."
      },
      {
        "tenant_name": "Rodriguez Inc",
        "lease_start_date": "2022-01-31",
        "lease_end_date": "2029-09-16",
        "monthly_rent": 24306,
        "lease_terms_summary": "Gross lease, 4% annual escalation."
      }
    ],
    "property_taxes_annual": 85592
  }
}