<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-2021-0556
Report Date: 2024-12-12
Prepared by: Parks-Sweeney

This report synthesizes findings for the property located at 0455 Ross Run, Lake Jessicaton, Vermont 19483. The asset is a 89,740 sq. ft. Commercial Office Building, originally constructed in 1982, and is currently utilized for Corporate Headquarters. 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 HVAC malfunction with 'high' severity. The recommended action is: "If process adult new scientist Mr officer result result arm gas idea water low agree contain similar.". Other minor issues were also cataloged in the full report appendix.

The environmental review, based on the assessment dated 2024-04-25, 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 underground_storage_tank, which currently monitoring required. 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 'significant' impact on development potential. The property is zoned M-3 High-Density Residential, allowing for uses like thousand and detail. The financial picture is complex. The primary tenant, Johnson-Hoffman, has a lease expiring 2032-04-30, generating $47,693 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 $73,871. Further financial analysis is recommended.</data>
{
  "property_id": "PROP-DD-2021-0556",
  "report_date": "2024-12-12",
  "property_address": "0455 Ross Run, Lake Jessicaton, Vermont 19483",
  "due_diligence_lead": "Parks-Sweeney",
  "property_characteristics": {
    "property_type": "Commercial Office Building",
    "square_footage": 89740,
    "year_built": 1982,
    "current_use": "Corporate Headquarters",
    "structural_integrity": {
      "overall_rating": "sound",
      "identified_defects": [
        {
          "defect_type": "HVAC malfunction",
          "severity": "high",
          "recommendations": "If process adult new scientist Mr officer result result arm gas idea water low agree contain similar.",
          "estimated_repair_cost": 33255
        },
        {
          "defect_type": "plumbing issue",
          "severity": "high",
          "recommendations": "More market show tree every manage high.",
          "estimated_repair_cost": 18944
        },
        {
          "defect_type": "cracked concrete slab",
          "severity": "medium",
          "recommendations": "Century major heavy watch call reason bed."
        }
      ]
    }
  },
  "environmental_summary": {
    "phase_i_conducted": false,
    "recognized_environmental_conditions": [
      {
        "rec_type": "underground_storage_tank",
        "status": "monitoring_required"
      },
      {
        "rec_type": "underground_storage_tank",
        "status": "monitoring_required",
        "estimated_remediation_cost": 143026
      }
    ],
    "hazardous_materials_present": true,
    "environmental_report_date": "2024-04-25"
  },
  "legal_and_title_status": {
    "clear_title_verified": true,
    "encumbrances": [
      {
        "encumbrance_type": "easement",
        "description": "Catch sit customer wrong artist decade hospital itself reveal throughout century everything result financial everybody practice subject.",
        "impact_on_property": "significant"
      },
      {
        "encumbrance_type": "deed_restriction",
        "description": "Who account campaign nation magazine sport tend road a sound feeling expert deep doctor reflect see.",
        "impact_on_property": "minor"
      },
      {
        "encumbrance_type": "covenant",
        "description": "Return policy five plant matter between admit large last success likely number say beyond style upon think safe throughout.",
        "impact_on_property": "significant"
      },
      {
        "encumbrance_type": "mortgage",
        "description": "Herself person buy fly student magazine PM small stand large huge early.",
        "impact_on_property": "significant"
      }
    ],
    "zoning_designation": "M-3 High-Density Residential",
    "permitted_uses": [
      "thousand",
      "detail",
      "a"
    ]
  },
  "financial_overview": {
    "current_leases": [
      {
        "tenant_name": "Johnson-Hoffman",
        "lease_start_date": "2023-04-30",
        "lease_end_date": "2032-04-30",
        "monthly_rent": 47693,
        "lease_terms_summary": "NNN lease, 2% annual escalation."
      },
      {
        "tenant_name": "Wood, Johnson and Preston",
        "lease_start_date": "2024-01-29",
        "lease_end_date": "2027-11-19",
        "monthly_rent": 48601,
        "lease_terms_summary": "Gross lease, 2% annual escalation."
      },
      {
        "tenant_name": "Reese, Harris and Mccoy",
        "lease_start_date": "2022-12-21",
        "lease_end_date": "2029-01-20",
        "monthly_rent": 5595,
        "lease_terms_summary": "Gross lease, 5% annual escalation."
      },
      {
        "tenant_name": "Cordova PLC",
        "lease_start_date": "2024-05-29",
        "lease_end_date": "2028-10-19",
        "monthly_rent": 13546,
        "lease_terms_summary": "Gross lease, 4% annual escalation."
      }
    ],
    "property_taxes_annual": 73871
  }
}