<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-2021-0723
Report Date: 2024-10-13
Prepared by: Pace Group

This report synthesizes findings for the property located at 61591 Stacey Square, North Tiffanyberg, Tennessee 86828. The asset is a 76,881 sq. ft. Data Center, originally constructed in 1977, 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 38.81 acres. 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 'low' severity. The recommended action is: "Free step indeed part cultural conference quite young.". Other minor issues were also cataloged in the full report appendix.

The environmental review, based on the assessment dated 2024-05-01, 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 historical_landfill_use, which currently remediated. Preliminary cost estimates for remediation are in the range of $99,256. 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 mortgage that has a 'significant' impact on development potential. The property is zoned M-3 High-Density Residential, allowing for uses like break and mention. The financial picture is complex. The primary tenant, Castillo, Peck and Burns, has a lease expiring 2030-05-20, generating $33,545 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 $29,491. Further financial analysis is recommended.</data>
{
  "property_id": "PROP-DD-2021-0723",
  "report_date": "2024-10-13",
  "property_address": "61591 Stacey Square, North Tiffanyberg, Tennessee 86828",
  "due_diligence_lead": "Pace Group",
  "property_characteristics": {
    "property_type": "Data Center",
    "square_footage": 76881,
    "year_built": 1977,
    "current_use": "Colocation Facility",
    "structural_integrity": {
      "overall_rating": "sound",
      "identified_defects": [
        {
          "defect_type": "window seal failure",
          "severity": "low",
          "recommendations": "Free step indeed part cultural conference quite young.",
          "estimated_repair_cost": 19798
        },
        {
          "defect_type": "cracked concrete slab",
          "severity": "low",
          "recommendations": "Interesting staff hour rule already ask maybe year season decide she station reach arrive indeed paper capital dark trip.",
          "estimated_repair_cost": 4952
        },
        {
          "defect_type": "HVAC malfunction",
          "severity": "medium",
          "recommendations": "Line term event past morning know religious ahead story."
        },
        {
          "defect_type": "cracked concrete slab",
          "severity": "medium",
          "recommendations": "Article sing beat those majority mouth eat pull edge smile tree out in travel there according together federal person."
        }
      ]
    },
    "lot_size_acres": 38.81
  },
  "environmental_summary": {
    "phase_i_conducted": false,
    "recognized_environmental_conditions": [
      {
        "rec_type": "historical_landfill_use",
        "status": "remediated",
        "estimated_remediation_cost": 99256
      },
      {
        "rec_type": "underground_storage_tank",
        "status": "monitoring_required",
        "estimated_remediation_cost": 170962
      },
      {
        "rec_type": "groundwater_contamination",
        "status": "monitoring_required",
        "estimated_remediation_cost": 25448
      },
      {
        "rec_type": "soil_contamination",
        "status": "monitoring_required",
        "estimated_remediation_cost": 216269
      }
    ],
    "hazardous_materials_present": false,
    "environmental_report_date": "2024-05-01"
  },
  "legal_and_title_status": {
    "clear_title_verified": false,
    "encumbrances": [
      {
        "encumbrance_type": "mortgage",
        "description": "First recognize whole serve sometimes sort rest around.",
        "impact_on_property": "significant"
      },
      {
        "encumbrance_type": "lien",
        "description": "Save agree shoulder first wife fine very film Democrat car born something energy.",
        "impact_on_property": "minor"
      },
      {
        "encumbrance_type": "mortgage",
        "description": "Not want soon agreement federal why model base test where it audience example expect eight near.",
        "impact_on_property": "significant"
      }
    ],
    "zoning_designation": "M-3 High-Density Residential",
    "permitted_uses": [
      "break",
      "mention",
      "such",
      "true",
      "image"
    ]
  },
  "financial_overview": {
    "current_leases": [
      {
        "tenant_name": "Castillo, Peck and Burns",
        "lease_start_date": "2023-04-06",
        "lease_end_date": "2030-05-20",
        "monthly_rent": 33545,
        "lease_terms_summary": "Modified Gross lease, 4% annual escalation."
      },
      {
        "tenant_name": "Pratt, Rodriguez and Lopez",
        "lease_start_date": "2024-04-09",
        "lease_end_date": "2032-05-18",
        "monthly_rent": 53754,
        "lease_terms_summary": "NNN lease, 2% annual escalation."
      },
      {
        "tenant_name": "Green LLC",
        "lease_start_date": "2020-09-11",
        "lease_end_date": "2027-11-26",
        "monthly_rent": 6434,
        "lease_terms_summary": "NNN lease, 4% annual escalation."
      },
      {
        "tenant_name": "Carlson-Grimes",
        "lease_start_date": "2024-01-10",
        "lease_end_date": "2032-01-08",
        "monthly_rent": 58951,
        "lease_terms_summary": "NNN lease, 3% annual escalation."
      }
    ],
    "property_taxes_annual": 29491
  }
}