<format type="json">{report_id: string, property_address: {street: string, city: string, state: string, zip_code: string, parcel_id: string optional}, due_diligence_date: date, property_details: {property_type: string, lot_size_sqft: number optional, building_sqft: number optional, year_built: number optional}, environmental_findings: array of {report_type: string, date_of_report: date, consultant: string, findings: array of {contaminant_type: string, location: string, risk_level: string, remediation_required: boolean, estimated_cost: number optional}}, structural_findings: array of {report_type: string, date_of_report: date, consultant: string, issues: array of {issue_description: string, severity: string, recommendations: string, estimated_repair_cost: number optional}}, zoning_compliance: {current_zone: string, permitted_uses: array of string, non_conforming_issues: boolean, notes: string optional}, legal_encumbrances: array of {type: string, description: string, impact_on_property: string, cleared_status: boolean} optional, overall_risk_assessment: {summary_assessment: string, total_estimated_mitigation_cost: number optional, recommendation: string}}</format> <data>MEMORANDUM

TO: Investment Committee
FROM: Due Diligence Team
DATE: 2024-11-15
SUBJECT: Analysis of Property at 3297 Pearson Estates, North David, South Dakota 85075 (Report ID: DDR-2024-782-South Dakota)

This report synthesizes the findings from our comprehensive due diligence on the subject property, a industrial facility reportedly constructed circa 1991. The site inspection was conducted under favorable weather conditions, which aided the external reviews. The property is currently zoned as R-1 General Commercial, which appears to align with its historical and intended use.

Environmental assessments, primarily conducted by Wilson, Ortiz and Brown, identified several key issues. The most recent report dated 2024-08-16 highlighted a moderate risk of Asbestos in the Sub-slab vapor (est. cost: $132,907); a high risk of VOCs in the Roofing materials (est. cost: $87,991); a high risk of PCBs in the Roofing materials (est. cost: $54,735); a high risk of VOCs in the Sub-slab vapor (est. cost: $46,752). This follows an initial Phase I that suggested the need for further subsurface investigation.

From a structural standpoint, the review from Miller Inc was generally positive for a building of its age. However, they did flag the following items requiring attention: Test may they collection sister in the foundation. deemed 'critical' by the engineer (est. repair: $171,173); Dinner painting rather everything site in the foundation. deemed 'significant' by the engineer (est. repair: $108,590). Their lead engineer, who has been in the field for over two decades, provided detailed recommendations in their full report.

The title search revealed 2 notable encumbrance(s), of which 2 have been marked as cleared. A standard utility easement along the eastern boundary, for instance, poses minimal impact on future development. Other items are pending review by legal counsel.

In conclusion, our analysis indicates a high risk proceed with caution. The cumulative financial exposure for the identified deficiencies is estimated to be in the region of $602,148, though this figure is preliminary. Based on these findings, our recommendation is as follows: Proceed only with significant seller concessions and a clear remediation plan. Further investigation is advised.</data>
{
  "report_id": "DDR-2024-782-South Dakota",
  "property_address": {
    "street": "3297 Pearson Estates",
    "city": "North David",
    "state": "South Dakota",
    "zip_code": "85075",
    "parcel_id": "NOR-88957-2525"
  },
  "due_diligence_date": "2024-11-15",
  "property_details": {
    "property_type": "industrial",
    "building_sqft": 211849,
    "year_built": 1991
  },
  "environmental_findings": [
    {
      "report_type": "Phase I ESA",
      "date_of_report": "2024-08-12",
      "consultant": "Wilson, Ortiz and Brown",
      "findings": [
        {
          "contaminant_type": "None detected",
          "location": "Overall site",
          "risk_level": "low",
          "remediation_required": false
        },
        {
          "contaminant_type": "None detected",
          "location": "Overall site",
          "risk_level": "low",
          "remediation_required": false
        }
      ]
    },
    {
      "report_type": "Phase II ESA",
      "date_of_report": "2024-07-16",
      "consultant": "Barry-Merritt",
      "findings": [
        {
          "contaminant_type": "Asbestos",
          "location": "Sub-slab vapor",
          "risk_level": "moderate",
          "remediation_required": true,
          "estimated_cost": 132907
        },
        {
          "contaminant_type": "VOCs",
          "location": "Roofing materials",
          "risk_level": "high",
          "remediation_required": true,
          "estimated_cost": 87991
        },
        {
          "contaminant_type": "PCBs",
          "location": "Roofing materials",
          "risk_level": "high",
          "remediation_required": true,
          "estimated_cost": 54735
        }
      ]
    },
    {
      "report_type": "Phase II ESA",
      "date_of_report": "2024-08-16",
      "consultant": "Shepard, Andersen and Romero",
      "findings": [
        {
          "contaminant_type": "VOCs",
          "location": "Sub-slab vapor",
          "risk_level": "high",
          "remediation_required": true,
          "estimated_cost": 46752
        },
        {
          "contaminant_type": "Petroleum hydrocarbons",
          "location": "Roofing materials",
          "risk_level": "low",
          "remediation_required": false
        }
      ]
    }
  ],
  "structural_findings": [
    {
      "report_type": "Structural Engineering Review",
      "date_of_report": "2024-10-18",
      "consultant": "Miller Inc",
      "issues": [
        {
          "issue_description": "Test may they collection sister in the foundation.",
          "severity": "critical",
          "recommendations": "Term wife small identify source drop really own yes happen central sell.",
          "estimated_repair_cost": 171173
        }
      ]
    },
    {
      "report_type": "Structural Engineering Review",
      "date_of_report": "2024-03-30",
      "consultant": "Oliver, Allen and Anthony",
      "issues": [
        {
          "issue_description": "Dinner painting rather everything site in the foundation.",
          "severity": "significant",
          "recommendations": "Thing left all early exactly three simply without write recognize figure score.",
          "estimated_repair_cost": 108590
        }
      ]
    }
  ],
  "zoning_compliance": {
    "current_zone": "R-1 General Commercial",
    "permitted_uses": [
      "try",
      "authority"
    ],
    "non_conforming_issues": false,
    "notes": "Morning as sell training join."
  },
  "overall_risk_assessment": {
    "summary_assessment": "high_risk_proceed_with_caution",
    "recommendation": "Proceed only with significant seller concessions and a clear remediation plan. Further investigation is advised.",
    "total_estimated_mitigation_cost": 602148
  },
  "legal_encumbrances": [
    {
      "type": "Deed Restriction",
      "description": "Wide not with safe.",
      "impact_on_property": "moderate",
      "cleared_status": true
    },
    {
      "type": "Easement",
      "description": "Care drive democratic add three doctor.",
      "impact_on_property": "minor",
      "cleared_status": true
    }
  ]
}