<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-2020-0415
Report Date: 2024-11-27
Prepared by: Conrad, Smith and Martinez

This report synthesizes findings for the property located at 421 Marshall Landing Apt. 659, Smithstad, New Jersey 47673. The asset is a 85,415 sq. ft. Retail Center, originally constructed in 2017, and is currently utilized for Shopping Mall. 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 82.37 acres. Our consulting structural engineer has assigned an overall rating of 'fair'. Despite this, several deficiencies were noted. Of primary concern is a HVAC malfunction with 'low' severity. The recommended action is: "Mind song middle somebody movie begin inside.". Other minor issues were also cataloged in the full report appendix.

The environmental review, based on the assessment dated 2024-08-27, 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 underground_storage_tank, which currently requires further action. 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 'moderate' impact on development potential. The property is zoned M-4 High-Density Residential, allowing for uses like trip and manager. It is also important to note that the status of pending litigation is currently true.

The financial picture is complex. The primary tenant, Richardson LLC, has a lease expiring 2031-06-18, generating $58,802 in monthly revenue under a Gross lease. The team is still reviewing the full rent roll provided by the seller's agent. Further financial analysis is recommended.</data>
{
  "property_id": "PROP-DD-2020-0415",
  "report_date": "2024-11-27",
  "property_address": "421 Marshall Landing Apt. 659, Smithstad, New Jersey 47673",
  "due_diligence_lead": "Conrad, Smith and Martinez",
  "property_characteristics": {
    "property_type": "Retail Center",
    "square_footage": 85415,
    "year_built": 2017,
    "current_use": "Shopping Mall",
    "structural_integrity": {
      "overall_rating": "fair",
      "identified_defects": [
        {
          "defect_type": "HVAC malfunction",
          "severity": "low",
          "recommendations": "Mind song middle somebody movie begin inside."
        },
        {
          "defect_type": "window seal failure",
          "severity": "critical",
          "recommendations": "Spend kitchen senior customer blue card staff of fear draw.",
          "estimated_repair_cost": 22211
        }
      ]
    },
    "lot_size_acres": 82.37
  },
  "environmental_summary": {
    "phase_i_conducted": false,
    "recognized_environmental_conditions": [
      {
        "rec_type": "underground_storage_tank",
        "status": "requires_further_action"
      },
      {
        "rec_type": "groundwater_contamination",
        "status": "monitoring_required",
        "estimated_remediation_cost": 46059
      },
      {
        "rec_type": "asbestos_containing_materials",
        "status": "requires_further_action"
      },
      {
        "rec_type": "asbestos_containing_materials",
        "status": "no_further_action"
      },
      {
        "rec_type": "underground_storage_tank",
        "status": "requires_further_action",
        "estimated_remediation_cost": 27627
      }
    ],
    "hazardous_materials_present": false,
    "environmental_report_date": "2024-08-27"
  },
  "legal_and_title_status": {
    "clear_title_verified": false,
    "encumbrances": [
      {
        "encumbrance_type": "covenant",
        "description": "Nor police they window church argue rule attorney.",
        "impact_on_property": "moderate"
      },
      {
        "encumbrance_type": "covenant",
        "description": "Cause between employee pattern season suggest data.",
        "impact_on_property": "significant"
      },
      {
        "encumbrance_type": "lien",
        "description": "College discussion study teacher and despite ok girl interesting market alone lay kind agent.",
        "impact_on_property": "moderate"
      },
      {
        "encumbrance_type": "easement",
        "description": "Front age Democrat night its eye big cause once ok old seem peace design.",
        "impact_on_property": "significant"
      }
    ],
    "zoning_designation": "M-4 High-Density Residential",
    "permitted_uses": [
      "trip",
      "manager",
      "keep",
      "alone"
    ],
    "pending_litigation": true
  },
  "financial_overview": {
    "current_leases": [
      {
        "tenant_name": "Richardson LLC",
        "lease_start_date": "2024-08-08",
        "lease_end_date": "2031-06-18",
        "monthly_rent": 58802,
        "lease_terms_summary": "Gross lease, 2% annual escalation."
      },
      {
        "tenant_name": "Tyler-Cox",
        "lease_start_date": "2022-03-24",
        "lease_end_date": "2028-06-05",
        "monthly_rent": 28593,
        "lease_terms_summary": "Gross lease, 3% annual escalation."
      },
      {
        "tenant_name": "Flores-Graves",
        "lease_start_date": "2024-03-12",
        "lease_end_date": "2027-09-15",
        "monthly_rent": 32760,
        "lease_terms_summary": "Modified Gross lease, 3% annual escalation."
      }
    ]
  }
}