<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-2022-0940
Report Date: 2025-03-26
Prepared by: Keith-Wright

This report synthesizes findings for the property located at 902 Bowers Creek, North Phyllisburgh, Kansas 85351. The asset is a 171,151 sq. ft. Retail Center, originally constructed in 1974, and is currently utilized for Lifestyle Center. 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 'poor'. Despite this, several deficiencies were noted. Of primary concern is a cracked concrete slab with 'medium' severity. The recommended action is: "Quite child fund look later foreign low rule wear floor.". Other minor issues were also cataloged in the full report appendix.

The environmental review, based on the assessment dated 2024-12-13, 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 groundwater_contamination, which currently requires further action. Preliminary cost estimates for remediation are in the range of $49,851. 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 'moderate' impact on development potential. The property is zoned C-2 Light Industrial, allowing for uses like imagine and there. It is also important to note that the status of pending litigation is currently true.

The financial picture is complex. The primary tenant, Howell, Nguyen and Allen, has a lease expiring 2028-02-08, generating $37,336 in monthly revenue under a 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 $29,943. Further financial analysis is recommended.</data>
{
  "property_id": "PROP-DD-2022-0940",
  "report_date": "2025-03-26",
  "property_address": "902 Bowers Creek, North Phyllisburgh, Kansas 85351",
  "due_diligence_lead": "Keith-Wright",
  "property_characteristics": {
    "property_type": "Retail Center",
    "square_footage": 171151,
    "year_built": 1974,
    "current_use": "Lifestyle Center",
    "structural_integrity": {
      "overall_rating": "poor",
      "identified_defects": [
        {
          "defect_type": "cracked concrete slab",
          "severity": "medium",
          "recommendations": "Quite child fund look later foreign low rule wear floor.",
          "estimated_repair_cost": 65634
        },
        {
          "defect_type": "HVAC malfunction",
          "severity": "high",
          "recommendations": "Answer kitchen effect mention executive before thing fast office market animal discuss address.",
          "estimated_repair_cost": 15002
        },
        {
          "defect_type": "HVAC malfunction",
          "severity": "critical",
          "recommendations": "Everyone international name agree may leave sound onto series edge trip prove go sometimes around.",
          "estimated_repair_cost": 36883
        }
      ]
    }
  },
  "environmental_summary": {
    "phase_i_conducted": true,
    "recognized_environmental_conditions": [
      {
        "rec_type": "groundwater_contamination",
        "status": "requires_further_action",
        "estimated_remediation_cost": 49851
      },
      {
        "rec_type": "underground_storage_tank",
        "status": "monitoring_required",
        "estimated_remediation_cost": 106778
      },
      {
        "rec_type": "groundwater_contamination",
        "status": "monitoring_required",
        "estimated_remediation_cost": 155638
      }
    ],
    "hazardous_materials_present": false,
    "environmental_report_date": "2024-12-13"
  },
  "legal_and_title_status": {
    "clear_title_verified": true,
    "encumbrances": [
      {
        "encumbrance_type": "easement",
        "description": "Arrive policy job long pass partner voice would imagine lose training industry miss.",
        "impact_on_property": "moderate"
      },
      {
        "encumbrance_type": "covenant",
        "description": "Whether suggest star tell officer accept half center road TV term.",
        "impact_on_property": "moderate"
      },
      {
        "encumbrance_type": "deed_restriction",
        "description": "Hold but main apply agreement item need minute sea budget one.",
        "impact_on_property": "moderate"
      },
      {
        "encumbrance_type": "mortgage",
        "description": "Newspaper trip learn success material sort seven choice consider hotel ten worker.",
        "impact_on_property": "moderate"
      }
    ],
    "zoning_designation": "C-2 Light Industrial",
    "permitted_uses": [
      "imagine",
      "there",
      "act"
    ],
    "pending_litigation": true
  },
  "financial_overview": {
    "current_leases": [
      {
        "tenant_name": "Howell, Nguyen and Allen",
        "lease_start_date": "2022-03-26",
        "lease_end_date": "2028-02-08",
        "monthly_rent": 37336,
        "lease_terms_summary": "Gross lease, 2% annual escalation."
      },
      {
        "tenant_name": "Taylor, Vargas and Shepherd",
        "lease_start_date": "2020-12-06",
        "lease_end_date": "2032-01-26",
        "monthly_rent": 19739,
        "lease_terms_summary": "NNN lease, 5% annual escalation."
      },
      {
        "tenant_name": "Dixon, Rogers and Burns",
        "lease_start_date": "2021-11-24",
        "lease_end_date": "2028-05-02",
        "monthly_rent": 13151,
        "lease_terms_summary": "Modified Gross lease, 3% annual escalation."
      },
      {
        "tenant_name": "King PLC",
        "lease_start_date": "2021-03-01",
        "lease_end_date": "2028-07-02",
        "monthly_rent": 5192,
        "lease_terms_summary": "Modified Gross lease, 5% annual escalation."
      }
    ],
    "property_taxes_annual": 29943
  }
}