<format type="json">{ "property_identifier": "string", "due_diligence_summary_date": "date", "analyst_firm": "string optional", "overall_risk_assessment": "string", "environmental_findings": { "phase1_status": "string", "recognized_environmental_conditions": "list[{rec_type: string, description: string, severity: string, remediation_required: boolean, estimated_cost: number optional}]", "wetlands_impact": "boolean", "hazardous_materials_on_site": "list[string] optional" }, "structural_integrity": { "assessment_date": "date", "overall_condition_rating": "string", "major_structural_issues": "list[{issue_type: string, location: string, repair_recommendation: string, estimated_repair_cost: number optional}]", "ada_compliance_notes": "string optional" }, "lease_analysis_summary": { "total_occupied_sqft": "number", "weighted_average_lease_term_years": "number", "major_tenants": "list[{tenant_name: string, lease_start_date: date, lease_end_date: date, annual_rent: number, rent_escalation_mechanism: string, renewal_options: number, option_term_years: number optional}]", "vacancy_rate_percentage": "number", "tenant_defaults_identified": "boolean" }, "title_and_legal": { "clear_title_confirmed": "boolean", "major_encumbrances": "list[{encumbrance_type: string, description: string, parties_involved: string optional}] optional", "pending_litigation_related_to_property": "boolean", "zoning_classification": "string", "zoning_compliance_confirmed": "boolean" } }</format> <data>**CONFIDENTIAL DUE DILIGENCE MEMORANDUM**

**DATE:** 2025-08-14
**SUBJECT PROPERTY:** 73315 James Shoals, Port Daniel, Massachusetts 19125
**PREPARED BY:** Mccormick and Sons

This report summarizes key findings from the due diligence conducted for the subject property. Our analysis, completed on 2025-08-14, indicates an overall risk profile assessed as **high** for a potential acquisition. The lead analyst, Elizabeth Clark, noted the complexity of the file.

**Environmental Review:** The Phase I Environmental Site Assessment (ESA) is noted as **completed**. Several Recognized Environmental Conditions (RECs) were identified. Key among these are a minor issue of groundwater_impact, a moderate issue of asbestos_containing_materials with potential remediation costs of $15713, a minor issue of groundwater_impact with potential remediation costs of $53031, a moderate issue of groundwater_impact. The assessment found no evidence of direct wetlands impact. Standard storage of materials like southern, rest was observed. 

**Structural and Physical Condition:** A Property Condition Assessment was performed on 2025-08-14, rating the property's overall condition as **'excellent'**. The engineer's report highlighted several capital-intensive repairs. Specifically, electrical_system_outdated in the South wing, lower level requires attention with an estimated repair cost of $61,597. Specifically, electrical_system_outdated in the South wing, lower level requires attention with an estimated repair cost of $88,186. Specifically, hvac_end_of_life in the South wing, upper level requires attention with an estimated repair cost of $147,194. The inspection was briefly delayed due to a minor scheduling conflict with a vendor.

**Lease and Tenancy Analysis:** The property's financial stability appears robust, with tenants occupying 111,553 sqft of a total 128,650 sqft, implying a vacancy of 13.29%. The rent roll is anchored by major tenants such as Boyd-Brown and Maxwell and Sons. The weighted average lease term (WALT) is approximately 3.9 years, providing stable near-term cash flow. Rent escalation for key tenants is a mix of mechanisms, including fixed_steps. Our review found no evidence of current tenant defaults.

**Title and Legal Matters:** The preliminary title report review indicates that clear title is **confirmed**. The property is zoned M-1 (Face-to-face tertiary algorithm), and its current use is deemed non-compliant with local ordinances. We are not aware of any pending litigation concerning the property at this time. </data>
{
  "property_identifier": "73315 James Shoals, Port Daniel, Massachusetts 19125",
  "due_diligence_summary_date": "2025-08-14",
  "overall_risk_assessment": "high",
  "environmental_findings": {
    "phase1_status": "completed",
    "recognized_environmental_conditions": [
      {
        "rec_type": "groundwater_impact",
        "description": "Left similar page executive note still daughter radio beyond such he by area.",
        "severity": "minor",
        "remediation_required": false
      },
      {
        "rec_type": "asbestos_containing_materials",
        "description": "Full skin ability subject eat that thank western message billion firm.",
        "severity": "moderate",
        "remediation_required": true,
        "estimated_cost": 15713
      },
      {
        "rec_type": "groundwater_impact",
        "description": "Major increase top act baby special drug them appear.",
        "severity": "minor",
        "remediation_required": true,
        "estimated_cost": 53031
      },
      {
        "rec_type": "groundwater_impact",
        "description": "Collection one card which suddenly subject new national reduce across us.",
        "severity": "moderate",
        "remediation_required": false
      }
    ],
    "wetlands_impact": true,
    "hazardous_materials_on_site": [
      "southern",
      "rest"
    ]
  },
  "structural_integrity": {
    "assessment_date": "2025-08-14",
    "overall_condition_rating": "excellent",
    "major_structural_issues": [
      {
        "issue_type": "electrical_system_outdated",
        "location": "South wing, lower level",
        "repair_recommendation": "I now since particularly act cause ability management. Growth between manager physical stop parent wide card.",
        "estimated_repair_cost": 61597
      },
      {
        "issue_type": "electrical_system_outdated",
        "location": "South wing, lower level",
        "repair_recommendation": "Pattern air know cold thought structure.",
        "estimated_repair_cost": 88186
      },
      {
        "issue_type": "hvac_end_of_life",
        "location": "South wing, upper level",
        "repair_recommendation": "Policy claim improve machine car issue. Piece short common about protect trial involve.",
        "estimated_repair_cost": 147194
      }
    ]
  },
  "lease_analysis_summary": {
    "total_occupied_sqft": 111553,
    "weighted_average_lease_term_years": 3.9,
    "major_tenants": [
      {
        "tenant_name": "Boyd-Brown",
        "lease_start_date": "2020-01-09",
        "lease_end_date": "2028-05-23",
        "annual_rent": 565488,
        "rent_escalation_mechanism": "fixed_steps",
        "renewal_options": 3,
        "option_term_years": 5
      },
      {
        "tenant_name": "Maxwell and Sons",
        "lease_start_date": "2023-05-07",
        "lease_end_date": "2031-05-01",
        "annual_rent": 703132,
        "rent_escalation_mechanism": "cpi_indexed",
        "renewal_options": 2
      },
      {
        "tenant_name": "Tyler-Ingram",
        "lease_start_date": "2023-06-07",
        "lease_end_date": "2029-08-30",
        "annual_rent": 155567,
        "rent_escalation_mechanism": "fixed_steps",
        "renewal_options": 1,
        "option_term_years": 5
      },
      {
        "tenant_name": "Fisher and Sons",
        "lease_start_date": "2018-09-19",
        "lease_end_date": "2027-02-15",
        "annual_rent": 199601,
        "rent_escalation_mechanism": "fixed_annual_3_percent",
        "renewal_options": 3,
        "option_term_years": 5
      },
      {
        "tenant_name": "Smith-Doyle",
        "lease_start_date": "2019-04-01",
        "lease_end_date": "2024-12-13",
        "annual_rent": 125998,
        "rent_escalation_mechanism": "fixed_steps",
        "renewal_options": 3,
        "option_term_years": 4
      }
    ],
    "vacancy_rate_percentage": 13.29,
    "tenant_defaults_identified": true
  },
  "title_and_legal": {
    "clear_title_confirmed": true,
    "pending_litigation_related_to_property": false,
    "zoning_classification": "M-1 (Face-to-face tertiary algorithm)",
    "zoning_compliance_confirmed": false
  },
  "analyst_firm": "Mccormick and Sons"
}