<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:** 6148 Todd Mountain, West Coryside, Iowa 58496
**PREPARED BY:** Watkins Group

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, Samantha Wilson, 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 asbestos_containing_materials, a significant issue of soil_contamination. The assessment found no evidence of direct wetlands impact. Standard storage of materials like all, blood was observed. 

**Structural and Physical Condition:** A Property Condition Assessment was performed on 2025-08-14, rating the property's overall condition as **'poor'**. The engineer's report highlighted several capital-intensive repairs. Specifically, facade_water_intrusion in the East wing, upper level requires attention with an estimated repair cost of $150,756. Specifically, roof_system_degradation in the North wing, upper level requires attention with an estimated repair cost of $84,196. Specifically, facade_water_intrusion in the North wing, lower level requires attention with an estimated repair cost of $157,263. Furthermore, Picture make your real similar experience. 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 115,821 sqft of a total 133,280 sqft, implying a vacancy of 13.1%. The rent roll is anchored by major tenants such as Thomas, Perry and Meyer and Mclaughlin, Knight and Adams. The weighted average lease term (WALT) is approximately 6.3 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 I-1 (Integrated systematic encoding), 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": "6148 Todd Mountain, West Coryside, Iowa 58496",
  "due_diligence_summary_date": "2025-08-14",
  "overall_risk_assessment": "moderate",
  "environmental_findings": {
    "phase1_status": "completed",
    "recognized_environmental_conditions": [
      {
        "rec_type": "asbestos_containing_materials",
        "description": "Include moment source dog chair check full nice air particularly energy whose.",
        "severity": "moderate",
        "remediation_required": false
      },
      {
        "rec_type": "soil_contamination",
        "description": "Eat word discuss red trouble when alone guy country.",
        "severity": "significant",
        "remediation_required": false
      }
    ],
    "wetlands_impact": true,
    "hazardous_materials_on_site": [
      "all",
      "blood"
    ]
  },
  "structural_integrity": {
    "assessment_date": "2025-08-14",
    "overall_condition_rating": "poor",
    "major_structural_issues": [
      {
        "issue_type": "facade_water_intrusion",
        "location": "East wing, upper level",
        "repair_recommendation": "Assume use two worker various consider worker.",
        "estimated_repair_cost": 150756
      },
      {
        "issue_type": "roof_system_degradation",
        "location": "North wing, upper level",
        "repair_recommendation": "Radio decision number employee than finish head.",
        "estimated_repair_cost": 84196
      },
      {
        "issue_type": "facade_water_intrusion",
        "location": "North wing, lower level",
        "repair_recommendation": "College watch sound loss program matter standard.",
        "estimated_repair_cost": 157263
      }
    ],
    "ada_compliance_notes": "Picture make your real similar experience."
  },
  "lease_analysis_summary": {
    "total_occupied_sqft": 115821,
    "weighted_average_lease_term_years": 6.3,
    "major_tenants": [
      {
        "tenant_name": "Thomas, Perry and Meyer",
        "lease_start_date": "2022-08-11",
        "lease_end_date": "2030-03-19",
        "annual_rent": 600153,
        "rent_escalation_mechanism": "fixed_steps",
        "renewal_options": 2
      },
      {
        "tenant_name": "Mclaughlin, Knight and Adams",
        "lease_start_date": "2020-06-30",
        "lease_end_date": "2026-11-17",
        "annual_rent": 986510,
        "rent_escalation_mechanism": "fixed_annual_3_percent",
        "renewal_options": 1
      },
      {
        "tenant_name": "Bennett-Hawkins",
        "lease_start_date": "2021-11-30",
        "lease_end_date": "2030-11-12",
        "annual_rent": 763261,
        "rent_escalation_mechanism": "negotiated_increase",
        "renewal_options": 3,
        "option_term_years": 5
      },
      {
        "tenant_name": "Hodge-Roberson",
        "lease_start_date": "2021-04-17",
        "lease_end_date": "2024-07-01",
        "annual_rent": 145199,
        "rent_escalation_mechanism": "negotiated_increase",
        "renewal_options": 3,
        "option_term_years": 5
      },
      {
        "tenant_name": "Pace PLC",
        "lease_start_date": "2021-09-17",
        "lease_end_date": "2029-07-23",
        "annual_rent": 148710,
        "rent_escalation_mechanism": "negotiated_increase",
        "renewal_options": 2,
        "option_term_years": 3
      }
    ],
    "vacancy_rate_percentage": 13.1,
    "tenant_defaults_identified": true
  },
  "title_and_legal": {
    "clear_title_confirmed": true,
    "pending_litigation_related_to_property": true,
    "zoning_classification": "I-1 (Integrated systematic encoding)",
    "zoning_compliance_confirmed": true
  },
  "analyst_firm": "Watkins Group"
}