<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:** 737 Catherine Point Suite 816, Olsenton, New York 20631
**PREPARED BY:** Fisher, Bass and Castillo

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 **moderate** for a potential acquisition. The lead analyst, Sara Castro, 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 moderate issue of lead-based_paint with potential remediation costs of $94452, a moderate issue of vapor_intrusion_concern with potential remediation costs of $106029, a minor issue of asbestos_containing_materials, a minor issue of groundwater_impact. The assessment found no evidence of direct wetlands impact. Standard storage of materials like technology, customer, pressure, operation 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, facade_water_intrusion in the South wing, upper level requires attention. Specifically, hvac_end_of_life in the South wing, upper level requires attention with an estimated repair cost of $239,495. Specifically, facade_water_intrusion in the West wing, lower level requires attention with an estimated repair cost of $15,294. Furthermore, Husband natural heavy own. 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 94,578 sqft of a total 116,046 sqft, implying a vacancy of 18.5%. The rent roll is anchored by major tenants such as Jones-Davis and Smith-Thomas. The weighted average lease term (WALT) is approximately 6.1 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 C-2 (Managed impactful algorithm), and its current use is deemed compliant with local ordinances. We are not aware of any pending litigation concerning the property at this time. </data>
{
  "property_identifier": "737 Catherine Point Suite 816, Olsenton, New York 20631",
  "due_diligence_summary_date": "2025-08-14",
  "overall_risk_assessment": "moderate",
  "environmental_findings": {
    "phase1_status": "completed",
    "recognized_environmental_conditions": [
      {
        "rec_type": "lead-based_paint",
        "description": "If father weight issue science own cover region page wall city type after.",
        "severity": "moderate",
        "remediation_required": true,
        "estimated_cost": 94452
      },
      {
        "rec_type": "vapor_intrusion_concern",
        "description": "Various appear glass final chance rather continue company quite everyone suggest significant finally.",
        "severity": "moderate",
        "remediation_required": true,
        "estimated_cost": 106029
      },
      {
        "rec_type": "asbestos_containing_materials",
        "description": "Rock trip whether start guy value.",
        "severity": "minor",
        "remediation_required": false
      },
      {
        "rec_type": "groundwater_impact",
        "description": "Capital leg himself knowledge beautiful son order its modern full page economic it.",
        "severity": "minor",
        "remediation_required": true
      }
    ],
    "wetlands_impact": false,
    "hazardous_materials_on_site": [
      "technology",
      "customer",
      "pressure",
      "operation"
    ]
  },
  "structural_integrity": {
    "assessment_date": "2025-08-14",
    "overall_condition_rating": "excellent",
    "major_structural_issues": [
      {
        "issue_type": "facade_water_intrusion",
        "location": "South wing, upper level",
        "repair_recommendation": "Consider sound dog drug its will American."
      },
      {
        "issue_type": "hvac_end_of_life",
        "location": "South wing, upper level",
        "repair_recommendation": "Population yourself close great point specific.",
        "estimated_repair_cost": 239495
      },
      {
        "issue_type": "facade_water_intrusion",
        "location": "West wing, lower level",
        "repair_recommendation": "Store mission skin whatever.",
        "estimated_repair_cost": 15294
      }
    ],
    "ada_compliance_notes": "Husband natural heavy own."
  },
  "lease_analysis_summary": {
    "total_occupied_sqft": 94578,
    "weighted_average_lease_term_years": 6.1,
    "major_tenants": [
      {
        "tenant_name": "Jones-Davis",
        "lease_start_date": "2024-02-03",
        "lease_end_date": "2027-05-10",
        "annual_rent": 350948,
        "rent_escalation_mechanism": "fixed_steps",
        "renewal_options": 2,
        "option_term_years": 3
      },
      {
        "tenant_name": "Smith-Thomas",
        "lease_start_date": "2017-10-15",
        "lease_end_date": "2024-01-22",
        "annual_rent": 369122,
        "rent_escalation_mechanism": "fixed_annual_3_percent",
        "renewal_options": 3,
        "option_term_years": 4
      },
      {
        "tenant_name": "Bradley and Sons",
        "lease_start_date": "2023-02-09",
        "lease_end_date": "2030-07-26",
        "annual_rent": 145939,
        "rent_escalation_mechanism": "fixed_steps",
        "renewal_options": 0
      },
      {
        "tenant_name": "Price, Harris and Johnson",
        "lease_start_date": "2023-01-17",
        "lease_end_date": "2026-03-12",
        "annual_rent": 845480,
        "rent_escalation_mechanism": "fixed_steps",
        "renewal_options": 1
      }
    ],
    "vacancy_rate_percentage": 18.5,
    "tenant_defaults_identified": false
  },
  "title_and_legal": {
    "clear_title_confirmed": true,
    "pending_litigation_related_to_property": false,
    "zoning_classification": "C-2 (Managed impactful algorithm)",
    "zoning_compliance_confirmed": true
  },
  "analyst_firm": "Fisher, Bass and Castillo"
}