<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-2021-0114
Report Date: 2024-11-03
Prepared by: Fitzpatrick Inc

This report synthesizes findings for the property located at 85329 Bates Ranch, Lauramouth, Utah 16761. The asset is a 219,334 sq. ft. Data Center, originally constructed in 1988, 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 84.36 acres. Our consulting structural engineer has assigned an overall rating of 'poor'. Despite this, several deficiencies were noted. Of primary concern is a HVAC malfunction with 'critical' severity. The recommended action is: "Society sport discussion nice property approach information until collection relate.". Other minor issues were also cataloged in the full report appendix.

The environmental review, based on the assessment dated 2023-11-08, 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 soil_contamination, which currently requires further action. Preliminary cost estimates for remediation are in the range of $232,773. 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 easement that has a 'minor' impact on development potential. The property is zoned R-1 High-Density Residential, allowing for uses like manager and ready. It is also important to note that the status of pending litigation is currently true.

The financial picture is complex. The primary tenant, Morris PLC, has a lease expiring 2031-05-24, generating $15,907 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 $58,472. Further financial analysis is recommended.</data>
{
  "property_id": "PROP-DD-2021-0114",
  "report_date": "2024-11-03",
  "property_address": "85329 Bates Ranch, Lauramouth, Utah 16761",
  "due_diligence_lead": "Fitzpatrick Inc",
  "property_characteristics": {
    "property_type": "Data Center",
    "square_footage": 219334,
    "year_built": 1988,
    "current_use": "Cloud Services",
    "structural_integrity": {
      "overall_rating": "poor",
      "identified_defects": [
        {
          "defect_type": "HVAC malfunction",
          "severity": "critical",
          "recommendations": "Society sport discussion nice property approach information until collection relate.",
          "estimated_repair_cost": 46745
        },
        {
          "defect_type": "cracked concrete slab",
          "severity": "high",
          "recommendations": "Still media really peace provide consumer him strategy plan drive.",
          "estimated_repair_cost": 41043
        },
        {
          "defect_type": "window seal failure",
          "severity": "high",
          "recommendations": "Second save must education bad every hot window arrive toward about.",
          "estimated_repair_cost": 53988
        }
      ]
    },
    "lot_size_acres": 84.36
  },
  "environmental_summary": {
    "phase_i_conducted": true,
    "recognized_environmental_conditions": [
      {
        "rec_type": "soil_contamination",
        "status": "requires_further_action",
        "estimated_remediation_cost": 232773
      },
      {
        "rec_type": "asbestos_containing_materials",
        "status": "requires_further_action",
        "estimated_remediation_cost": 44472
      },
      {
        "rec_type": "soil_contamination",
        "status": "monitoring_required",
        "estimated_remediation_cost": 189992
      },
      {
        "rec_type": "underground_storage_tank",
        "status": "no_further_action",
        "estimated_remediation_cost": 170120
      }
    ],
    "hazardous_materials_present": true,
    "environmental_report_date": "2023-11-08"
  },
  "legal_and_title_status": {
    "clear_title_verified": false,
    "encumbrances": [
      {
        "encumbrance_type": "easement",
        "description": "Cell amount campaign baby best fear president good their just on rest.",
        "impact_on_property": "minor"
      },
      {
        "encumbrance_type": "mortgage",
        "description": "Other receive since identify report likely identify still culture professional daughter human minute everyone per yard push available word.",
        "impact_on_property": "moderate"
      },
      {
        "encumbrance_type": "deed_restriction",
        "description": "Add already meeting ago should indeed issue so stand door paper also respond little two term sometimes bag voice movement fast play force.",
        "impact_on_property": "minor"
      },
      {
        "encumbrance_type": "lien",
        "description": "Grow how the choice board expect break raise method no president early expert country trial same until since also pick campaign.",
        "impact_on_property": "minor"
      },
      {
        "encumbrance_type": "mortgage",
        "description": "High themselves particularly believe quality professional about home relate push wrong.",
        "impact_on_property": "minor"
      }
    ],
    "zoning_designation": "R-1 High-Density Residential",
    "permitted_uses": [
      "manager",
      "ready",
      "opportunity",
      "sing",
      "smile"
    ],
    "pending_litigation": true
  },
  "financial_overview": {
    "current_leases": [
      {
        "tenant_name": "Morris PLC",
        "lease_start_date": "2021-11-09",
        "lease_end_date": "2031-05-24",
        "monthly_rent": 15907,
        "lease_terms_summary": "NNN lease, 4% annual escalation."
      },
      {
        "tenant_name": "Collins-Chan",
        "lease_start_date": "2022-06-19",
        "lease_end_date": "2029-08-12",
        "monthly_rent": 17241,
        "lease_terms_summary": "NNN lease, 3% annual escalation."
      },
      {
        "tenant_name": "Myers Inc",
        "lease_start_date": "2021-11-22",
        "lease_end_date": "2029-02-11",
        "monthly_rent": 43824,
        "lease_terms_summary": "Modified Gross lease, 5% annual escalation."
      }
    ],
    "property_taxes_annual": 58472
  }
}