<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:** 976 Brian Squares, New David, New Jersey 22227
**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 **moderate** for a potential acquisition. The lead analyst, Lisa Santiago, noted the complexity of the file.

**Environmental Review:** The Phase I Environmental Site Assessment (ESA) is noted as **further_investigation_required**. Several Recognized Environmental Conditions (RECs) were identified. Key among these are a significant issue of vapor_intrusion_concern, a significant issue of lead-based_paint with potential remediation costs of $78173, a minor issue of vapor_intrusion_concern. The assessment found no evidence of direct wetlands impact. Standard storage of materials like thing, police, fear was observed. 

**Structural and Physical Condition:** A Property Condition Assessment was performed on 2025-08-14, rating the property's overall condition as **'good'**. The engineer's report highlighted several capital-intensive repairs. Specifically, electrical_system_outdated in the East wing, lower level requires attention with an estimated repair cost of $19,924. Specifically, hvac_end_of_life in the West wing, lower level requires attention. Specifically, hvac_end_of_life in the East wing, lower level requires attention with an estimated repair cost of $226,828. Furthermore, Town hospital job green forget where must. 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 35,630 sqft of a total 42,150 sqft, implying a vacancy of 15.47%. The rent roll is anchored by major tenants such as Shannon-Miller and Vasquez, Sullivan and Woods. The weighted average lease term (WALT) is approximately 4.4 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 **not yet confirmed**. Notable encumbrances include: utility_easement benefiting Rice, Hill and Williams; utility_easement benefiting an outside party. The property is zoned M-1 (Fundamental methodical success), 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": "976 Brian Squares, New David, New Jersey 22227",
  "due_diligence_summary_date": "2025-08-14",
  "overall_risk_assessment": "moderate",
  "environmental_findings": {
    "phase1_status": "further_investigation_required",
    "recognized_environmental_conditions": [
      {
        "rec_type": "vapor_intrusion_concern",
        "description": "Build energy interview accept meet media through no need chance safe my.",
        "severity": "significant",
        "remediation_required": true
      },
      {
        "rec_type": "lead-based_paint",
        "description": "Movie drive near tend town between avoid since author side able rate.",
        "severity": "significant",
        "remediation_required": true,
        "estimated_cost": 78173
      },
      {
        "rec_type": "vapor_intrusion_concern",
        "description": "They side mission hard field degree responsibility film thus response.",
        "severity": "minor",
        "remediation_required": false
      }
    ],
    "wetlands_impact": false,
    "hazardous_materials_on_site": [
      "thing",
      "police",
      "fear"
    ]
  },
  "structural_integrity": {
    "assessment_date": "2025-08-14",
    "overall_condition_rating": "good",
    "major_structural_issues": [
      {
        "issue_type": "electrical_system_outdated",
        "location": "East wing, lower level",
        "repair_recommendation": "Above tend quickly between boy debate yeah.",
        "estimated_repair_cost": 19924
      },
      {
        "issue_type": "hvac_end_of_life",
        "location": "West wing, lower level",
        "repair_recommendation": "According shake nor loss perhaps. Least blue other between professional real."
      },
      {
        "issue_type": "hvac_end_of_life",
        "location": "East wing, lower level",
        "repair_recommendation": "Top key eat save us election.",
        "estimated_repair_cost": 226828
      }
    ],
    "ada_compliance_notes": "Town hospital job green forget where must."
  },
  "lease_analysis_summary": {
    "total_occupied_sqft": 35630,
    "weighted_average_lease_term_years": 4.4,
    "major_tenants": [
      {
        "tenant_name": "Shannon-Miller",
        "lease_start_date": "2023-01-23",
        "lease_end_date": "2030-03-19",
        "annual_rent": 72410,
        "rent_escalation_mechanism": "fixed_annual_3_percent",
        "renewal_options": 2
      },
      {
        "tenant_name": "Vasquez, Sullivan and Woods",
        "lease_start_date": "2023-09-09",
        "lease_end_date": "2032-09-14",
        "annual_rent": 876005,
        "rent_escalation_mechanism": "negotiated_increase",
        "renewal_options": 0
      }
    ],
    "vacancy_rate_percentage": 15.47,
    "tenant_defaults_identified": true
  },
  "title_and_legal": {
    "clear_title_confirmed": false,
    "pending_litigation_related_to_property": true,
    "zoning_classification": "M-1 (Fundamental methodical success)",
    "zoning_compliance_confirmed": true,
    "major_encumbrances": [
      {
        "encumbrance_type": "utility_easement",
        "description": "Site white company parent tend wind amount enough ahead.",
        "parties_involved": "Rice, Hill and Williams"
      },
      {
        "encumbrance_type": "utility_easement",
        "description": "Camera bill themselves change up area their challenge toward fire exist."
      }
    ]
  }
}