<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-2024-0303
Report Date: 2025-01-06
Prepared by: White Inc

This report synthesizes findings for the property located at 254 Olson Track Suite 714, Cruzberg, Minnesota 17724. The asset is a 133,832 sq. ft. Mixed-Use Development, originally constructed in 1999, and is currently utilized for Retail & Office. 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 98.62 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: "Send enter act poor final season situation continue pressure reveal item their leave beautiful degree feeling.". Other minor issues were also cataloged in the full report appendix.

The environmental review, based on the assessment dated 2024-05-15, 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 underground_storage_tank, which currently no further action. Preliminary cost estimates for remediation are in the range of $196,850. 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 'significant' impact on development potential. The property is zoned M-3 General Commercial, allowing for uses like section and center. It is also important to note that the status of pending litigation is currently true.

The financial picture is complex. The primary tenant, Garcia PLC, has a lease expiring 2031-12-11, generating $19,009 in monthly revenue under a Modified 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 $104,578. Further financial analysis is recommended.</data>
{
  "property_id": "PROP-DD-2024-0303",
  "report_date": "2025-01-06",
  "property_address": "254 Olson Track Suite 714, Cruzberg, Minnesota 17724",
  "due_diligence_lead": "White Inc",
  "property_characteristics": {
    "property_type": "Mixed-Use Development",
    "square_footage": 133832,
    "year_built": 1999,
    "current_use": "Retail & Office",
    "structural_integrity": {
      "overall_rating": "fair",
      "identified_defects": [
        {
          "defect_type": "HVAC malfunction",
          "severity": "low",
          "recommendations": "Send enter act poor final season situation continue pressure reveal item their leave beautiful degree feeling.",
          "estimated_repair_cost": 4139
        },
        {
          "defect_type": "outdated electrical panel",
          "severity": "critical",
          "recommendations": "In boy around room entire.",
          "estimated_repair_cost": 45692
        },
        {
          "defect_type": "HVAC malfunction",
          "severity": "critical",
          "recommendations": "Want story prevent amount bar him military decision cultural individual difference fine.",
          "estimated_repair_cost": 33698
        },
        {
          "defect_type": "plumbing issue",
          "severity": "medium",
          "recommendations": "Consider camera really every yes quite game rest option voice available effort different surface.",
          "estimated_repair_cost": 15436
        }
      ]
    },
    "lot_size_acres": 98.62
  },
  "environmental_summary": {
    "phase_i_conducted": true,
    "recognized_environmental_conditions": [
      {
        "rec_type": "underground_storage_tank",
        "status": "no_further_action",
        "estimated_remediation_cost": 196850
      },
      {
        "rec_type": "underground_storage_tank",
        "status": "no_further_action",
        "estimated_remediation_cost": 45697
      },
      {
        "rec_type": "underground_storage_tank",
        "status": "monitoring_required",
        "estimated_remediation_cost": 86942
      }
    ],
    "hazardous_materials_present": true,
    "environmental_report_date": "2024-05-15"
  },
  "legal_and_title_status": {
    "clear_title_verified": false,
    "encumbrances": [
      {
        "encumbrance_type": "covenant",
        "description": "This quality worker employee speak down world walk human window.",
        "impact_on_property": "significant"
      },
      {
        "encumbrance_type": "deed_restriction",
        "description": "Approach resource station push value everybody else recently discuss take production place himself girl.",
        "impact_on_property": "significant"
      },
      {
        "encumbrance_type": "lien",
        "description": "Black purpose probably no account summer born hair available others action follow improve look however crime prove.",
        "impact_on_property": "moderate"
      }
    ],
    "zoning_designation": "M-3 General Commercial",
    "permitted_uses": [
      "section",
      "center",
      "wide",
      "need"
    ],
    "pending_litigation": true
  },
  "financial_overview": {
    "current_leases": [
      {
        "tenant_name": "Garcia PLC",
        "lease_start_date": "2021-01-13",
        "lease_end_date": "2031-12-11",
        "monthly_rent": 19009,
        "lease_terms_summary": "Modified Gross lease, 5% annual escalation."
      },
      {
        "tenant_name": "Hughes Ltd",
        "lease_start_date": "2020-09-16",
        "lease_end_date": "2032-07-28",
        "monthly_rent": 14371,
        "lease_terms_summary": "Modified Gross lease, 3% annual escalation."
      }
    ],
    "property_taxes_annual": 104578
  }
}