<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-2021-0818
Report Date: 2025-03-05
Prepared by: Jennings and Sons

This report synthesizes findings for the property located at 863 Smith Estate, Marksburgh, Iowa 72689. The asset is a 131,625 sq. ft. Data Center, originally constructed in 2006, and is currently utilized for Cloud Services. 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 88.76 acres. 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 'medium' severity. The recommended action is: "Adult dinner ago term with either itself my few whose reach his ability less voice medical.". Other minor issues were also cataloged in the full report appendix.

The environmental review, based on the assessment dated 2024-10-27, indicates that a Phase I ESA was conducted. The presence of hazardous materials on-site has been confirmed as true. Key Recognized Environmental Conditions (RECs) include potential asbestos_containing_materials, which currently remediated. 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 deed_restriction that has a 'significant' impact on development potential. The property is zoned C-2 Light Industrial, allowing for uses like present and hour. It is also important to note that the status of pending litigation is currently true.

The financial picture is complex. The primary tenant, Lee and Sons, has a lease expiring 2030-04-04, generating $13,490 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 $83,942. Further financial analysis is recommended.</data>
{
  "property_id": "PROP-DD-2021-0818",
  "report_date": "2025-03-05",
  "property_address": "863 Smith Estate, Marksburgh, Iowa 72689",
  "due_diligence_lead": "Jennings and Sons",
  "property_characteristics": {
    "property_type": "Data Center",
    "square_footage": 131625,
    "year_built": 2006,
    "current_use": "Cloud Services",
    "structural_integrity": {
      "overall_rating": "sound",
      "identified_defects": [
        {
          "defect_type": "HVAC malfunction",
          "severity": "medium",
          "recommendations": "Adult dinner ago term with either itself my few whose reach his ability less voice medical.",
          "estimated_repair_cost": 12792
        },
        {
          "defect_type": "cracked concrete slab",
          "severity": "critical",
          "recommendations": "More bag coach table modern value it nature exist degree they above type trouble.",
          "estimated_repair_cost": 60964
        },
        {
          "defect_type": "cracked concrete slab",
          "severity": "low",
          "recommendations": "Name throughout return local prepare court carry political reason way ever information with.",
          "estimated_repair_cost": 8788
        },
        {
          "defect_type": "outdated electrical panel",
          "severity": "critical",
          "recommendations": "Summer they husband our about same heavy describe rate your."
        }
      ]
    },
    "lot_size_acres": 88.76
  },
  "environmental_summary": {
    "phase_i_conducted": true,
    "recognized_environmental_conditions": [
      {
        "rec_type": "asbestos_containing_materials",
        "status": "remediated"
      },
      {
        "rec_type": "asbestos_containing_materials",
        "status": "requires_further_action"
      }
    ],
    "hazardous_materials_present": true,
    "environmental_report_date": "2024-10-27"
  },
  "legal_and_title_status": {
    "clear_title_verified": false,
    "encumbrances": [
      {
        "encumbrance_type": "deed_restriction",
        "description": "Stock draw late rather example improve name medical.",
        "impact_on_property": "significant"
      },
      {
        "encumbrance_type": "lien",
        "description": "Stuff guy responsibility help society direction movie stage public feel professional eat.",
        "impact_on_property": "significant"
      }
    ],
    "zoning_designation": "C-2 Light Industrial",
    "permitted_uses": [
      "present",
      "hour",
      "along",
      "call"
    ],
    "pending_litigation": true
  },
  "financial_overview": {
    "current_leases": [
      {
        "tenant_name": "Lee and Sons",
        "lease_start_date": "2023-02-20",
        "lease_end_date": "2030-04-04",
        "monthly_rent": 13490,
        "lease_terms_summary": "Gross lease, 3% annual escalation."
      },
      {
        "tenant_name": "Becker and Sons",
        "lease_start_date": "2022-11-29",
        "lease_end_date": "2027-12-18",
        "monthly_rent": 42398,
        "lease_terms_summary": "NNN lease, 3% annual escalation."
      },
      {
        "tenant_name": "Whitney, Scott and Evans",
        "lease_start_date": "2020-08-16",
        "lease_end_date": "2029-03-01",
        "monthly_rent": 51269,
        "lease_terms_summary": "Gross lease, 4% annual escalation."
      },
      {
        "tenant_name": "Mitchell PLC",
        "lease_start_date": "2022-06-11",
        "lease_end_date": "2029-09-15",
        "monthly_rent": 5747,
        "lease_terms_summary": "NNN lease, 5% annual escalation."
      }
    ],
    "property_taxes_annual": 83942
  }
}