<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-2023-0311
Report Date: 2024-08-13
Prepared by: George PLC

This report synthesizes findings for the property located at 145 Sims Oval, New Kristinview, Michigan 94919. The asset is a 239,052 sq. ft. Retail Center, originally constructed in 1974, and is currently utilized for Strip Mall. 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 64.18 acres. Our consulting structural engineer has assigned an overall rating of 'fair'. Despite this, several deficiencies were noted. Of primary concern is a outdated electrical panel with 'high' severity. The recommended action is: "Attack think child thought budget gun history suffer inside among color.". Other minor issues were also cataloged in the full report appendix.

The environmental review, based on the assessment dated 2023-11-21, 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 groundwater_contamination, which currently remediated. Preliminary cost estimates for remediation are in the range of $241,131. 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 'minor' impact on development potential. The property is zoned C-3 High-Density Residential, allowing for uses like person and order. It is also important to note that the status of pending litigation is currently true.

The financial picture is complex. The primary tenant, Perkins Ltd, has a lease expiring 2028-04-15, generating $16,655 in monthly revenue under a NNN lease. The team is still reviewing the full rent roll provided by the seller's agent. Further financial analysis is recommended.</data>
{
  "property_id": "PROP-DD-2023-0311",
  "report_date": "2024-08-13",
  "property_address": "145 Sims Oval, New Kristinview, Michigan 94919",
  "due_diligence_lead": "George PLC",
  "property_characteristics": {
    "property_type": "Retail Center",
    "square_footage": 239052,
    "year_built": 1974,
    "current_use": "Strip Mall",
    "structural_integrity": {
      "overall_rating": "fair",
      "identified_defects": [
        {
          "defect_type": "outdated electrical panel",
          "severity": "high",
          "recommendations": "Attack think child thought budget gun history suffer inside among color.",
          "estimated_repair_cost": 15569
        },
        {
          "defect_type": "window seal failure",
          "severity": "low",
          "recommendations": "Listen bank structure sort forget option ever conference live fight.",
          "estimated_repair_cost": 22990
        },
        {
          "defect_type": "HVAC malfunction",
          "severity": "high",
          "recommendations": "Hold situation bed get term customer water table."
        },
        {
          "defect_type": "outdated electrical panel",
          "severity": "medium",
          "recommendations": "Each early ability make successful continue feeling card force other accept."
        },
        {
          "defect_type": "window seal failure",
          "severity": "low",
          "recommendations": "Ahead federal own ability miss.",
          "estimated_repair_cost": 8462
        }
      ]
    },
    "lot_size_acres": 64.18
  },
  "environmental_summary": {
    "phase_i_conducted": false,
    "recognized_environmental_conditions": [
      {
        "rec_type": "groundwater_contamination",
        "status": "remediated",
        "estimated_remediation_cost": 241131
      },
      {
        "rec_type": "asbestos_containing_materials",
        "status": "no_further_action",
        "estimated_remediation_cost": 244858
      },
      {
        "rec_type": "historical_landfill_use",
        "status": "remediated",
        "estimated_remediation_cost": 156799
      }
    ],
    "hazardous_materials_present": true,
    "environmental_report_date": "2023-11-21"
  },
  "legal_and_title_status": {
    "clear_title_verified": true,
    "encumbrances": [
      {
        "encumbrance_type": "easement",
        "description": "Nothing religious sit outside recognize hit various grow lawyer message choice good front teach fact such he discussion deep rest everything.",
        "impact_on_property": "minor"
      },
      {
        "encumbrance_type": "easement",
        "description": "Animal put exist serve road sure break bring research high.",
        "impact_on_property": "significant"
      }
    ],
    "zoning_designation": "C-3 High-Density Residential",
    "permitted_uses": [
      "person",
      "order",
      "whom",
      "or",
      "down"
    ],
    "pending_litigation": true
  },
  "financial_overview": {
    "current_leases": [
      {
        "tenant_name": "Perkins Ltd",
        "lease_start_date": "2022-01-17",
        "lease_end_date": "2028-04-15",
        "monthly_rent": 16655,
        "lease_terms_summary": "NNN lease, 5% annual escalation."
      },
      {
        "tenant_name": "Bradford-Reed",
        "lease_start_date": "2023-11-10",
        "lease_end_date": "2029-01-04",
        "monthly_rent": 25309,
        "lease_terms_summary": "Gross lease, 3% annual escalation."
      }
    ]
  }
}