<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:** 826 Jamie Parkway, West Stephanieside, Maryland 37494
**PREPARED BY:** Our internal review team

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, Amber Hernandez, 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 soil_contamination, a minor issue of vapor_intrusion_concern with potential remediation costs of $74260, a moderate issue of groundwater_impact, a minor issue of lead-based_paint with potential remediation costs of $84851. The assessment found no evidence of direct wetlands impact. No significant quantities of hazardous materials were noted on-site.

**Structural and Physical Condition:** A Property Condition Assessment was performed on 2025-08-14, rating the property's overall condition as **'fair'**. The engineer's report highlighted several capital-intensive repairs. Specifically, roof_system_degradation in the South wing, upper level requires attention with an estimated repair cost of $125,583. Specifically, hvac_end_of_life in the South wing, lower level requires attention with an estimated repair cost of $245,376. Specifically, facade_water_intrusion in the West wing, lower level requires attention. 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 139,951 sqft of a total 160,420 sqft, implying a vacancy of 12.76%. The rent roll is anchored by major tenants such as Harris, Bell and Cain and Diaz, Floyd and Green. The weighted average lease term (WALT) is approximately 4.9 years, providing stable near-term cash flow. Rent escalation for key tenants is a mix of mechanisms, including fixed_annual_3_percent. 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 (Synergized object-oriented functionalities), 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": "826 Jamie Parkway, West Stephanieside, Maryland 37494",
  "due_diligence_summary_date": "2025-08-14",
  "overall_risk_assessment": "high",
  "environmental_findings": {
    "phase1_status": "completed",
    "recognized_environmental_conditions": [
      {
        "rec_type": "soil_contamination",
        "description": "Seek letter western dog six white lot movement large national her eat news.",
        "severity": "moderate",
        "remediation_required": false
      },
      {
        "rec_type": "vapor_intrusion_concern",
        "description": "Collection society often without with would mission also maybe try race later should.",
        "severity": "minor",
        "remediation_required": true,
        "estimated_cost": 74260
      },
      {
        "rec_type": "groundwater_impact",
        "description": "Class gun here your wonder wait focus.",
        "severity": "moderate",
        "remediation_required": true
      },
      {
        "rec_type": "lead-based_paint",
        "description": "Family be they mission dog prevent director.",
        "severity": "minor",
        "remediation_required": true,
        "estimated_cost": 84851
      }
    ],
    "wetlands_impact": true
  },
  "structural_integrity": {
    "assessment_date": "2025-08-14",
    "overall_condition_rating": "fair",
    "major_structural_issues": [
      {
        "issue_type": "roof_system_degradation",
        "location": "South wing, upper level",
        "repair_recommendation": "Among our late reveal sort kind need. Where speak why bit.",
        "estimated_repair_cost": 125583
      },
      {
        "issue_type": "hvac_end_of_life",
        "location": "South wing, lower level",
        "repair_recommendation": "Yard anyone stand build dinner term. Hold attorney evidence investment customer material two.",
        "estimated_repair_cost": 245376
      },
      {
        "issue_type": "facade_water_intrusion",
        "location": "West wing, lower level",
        "repair_recommendation": "Outside theory eat series chance sense send."
      }
    ]
  },
  "lease_analysis_summary": {
    "total_occupied_sqft": 139951,
    "weighted_average_lease_term_years": 4.9,
    "major_tenants": [
      {
        "tenant_name": "Harris, Bell and Cain",
        "lease_start_date": "2021-01-13",
        "lease_end_date": "2026-01-04",
        "annual_rent": 176841,
        "rent_escalation_mechanism": "fixed_annual_3_percent",
        "renewal_options": 1
      },
      {
        "tenant_name": "Diaz, Floyd and Green",
        "lease_start_date": "2023-08-08",
        "lease_end_date": "2026-08-22",
        "annual_rent": 56613,
        "rent_escalation_mechanism": "negotiated_increase",
        "renewal_options": 2,
        "option_term_years": 5
      },
      {
        "tenant_name": "Johnston Inc",
        "lease_start_date": "2024-06-06",
        "lease_end_date": "2028-12-06",
        "annual_rent": 94516,
        "rent_escalation_mechanism": "fixed_annual_3_percent",
        "renewal_options": 1,
        "option_term_years": 4
      },
      {
        "tenant_name": "Estes LLC",
        "lease_start_date": "2020-03-22",
        "lease_end_date": "2029-10-26",
        "annual_rent": 570442,
        "rent_escalation_mechanism": "fixed_steps",
        "renewal_options": 0
      },
      {
        "tenant_name": "Alexander-Flores",
        "lease_start_date": "2017-12-16",
        "lease_end_date": "2022-03-14",
        "annual_rent": 822636,
        "rent_escalation_mechanism": "cpi_indexed",
        "renewal_options": 0
      }
    ],
    "vacancy_rate_percentage": 12.76,
    "tenant_defaults_identified": true
  },
  "title_and_legal": {
    "clear_title_confirmed": true,
    "pending_litigation_related_to_property": false,
    "zoning_classification": "C-2 (Synergized object-oriented functionalities)",
    "zoning_compliance_confirmed": false
  }
}