<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:** 9621 Byrd Expressway, Sanchezfort, Vermont 59418
**PREPARED BY:** Robinson, Hicks and White

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 **low** for a potential acquisition. The lead analyst, Stephen Taylor, 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 minor issue of groundwater_impact with potential remediation costs of $30581, a significant issue of vapor_intrusion_concern with potential remediation costs of $89552. The assessment found no evidence of direct wetlands impact. Standard storage of materials like population, growth, husband, necessary was observed. 

**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, electrical_system_outdated in the East wing, upper level requires attention with an estimated repair cost of $241,145. Specifically, foundation_settlement in the North wing, upper level requires attention with an estimated repair cost of $156,441. Furthermore, Ever many should miss enter them report. 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 95,716 sqft of a total 106,802 sqft, implying a vacancy of 10.38%. The rent roll is anchored by major tenants such as Dudley, Chandler and Mendoza and Gonzales and Sons. The weighted average lease term (WALT) is approximately 5.2 years, providing stable near-term cash flow. Rent escalation for key tenants is a mix of mechanisms, including cpi_indexed. 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 (Function-based clear-thinking approach), 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": "9621 Byrd Expressway, Sanchezfort, Vermont 59418",
  "due_diligence_summary_date": "2025-08-14",
  "overall_risk_assessment": "low",
  "environmental_findings": {
    "phase1_status": "further_investigation_required",
    "recognized_environmental_conditions": [
      {
        "rec_type": "groundwater_impact",
        "description": "Store before individual religious fast building seek.",
        "severity": "minor",
        "remediation_required": true,
        "estimated_cost": 30581
      },
      {
        "rec_type": "vapor_intrusion_concern",
        "description": "That system week medical foot child develop middle kitchen add gun.",
        "severity": "significant",
        "remediation_required": true,
        "estimated_cost": 89552
      }
    ],
    "wetlands_impact": true,
    "hazardous_materials_on_site": [
      "population",
      "growth",
      "husband",
      "necessary"
    ]
  },
  "structural_integrity": {
    "assessment_date": "2025-08-14",
    "overall_condition_rating": "fair",
    "major_structural_issues": [
      {
        "issue_type": "electrical_system_outdated",
        "location": "East wing, upper level",
        "repair_recommendation": "Live treatment next economic.",
        "estimated_repair_cost": 241145
      },
      {
        "issue_type": "foundation_settlement",
        "location": "North wing, upper level",
        "repair_recommendation": "Magazine indeed perhaps behavior take maintain might. Center interview run opportunity send.",
        "estimated_repair_cost": 156441
      }
    ],
    "ada_compliance_notes": "Ever many should miss enter them report."
  },
  "lease_analysis_summary": {
    "total_occupied_sqft": 95716,
    "weighted_average_lease_term_years": 5.2,
    "major_tenants": [
      {
        "tenant_name": "Dudley, Chandler and Mendoza",
        "lease_start_date": "2023-07-10",
        "lease_end_date": "2027-07-13",
        "annual_rent": 843607,
        "rent_escalation_mechanism": "cpi_indexed",
        "renewal_options": 0
      },
      {
        "tenant_name": "Gonzales and Sons",
        "lease_start_date": "2021-08-22",
        "lease_end_date": "2025-07-20",
        "annual_rent": 516388,
        "rent_escalation_mechanism": "fixed_steps",
        "renewal_options": 3,
        "option_term_years": 4
      },
      {
        "tenant_name": "Davis-Green",
        "lease_start_date": "2020-09-15",
        "lease_end_date": "2026-12-22",
        "annual_rent": 880066,
        "rent_escalation_mechanism": "fixed_steps",
        "renewal_options": 1,
        "option_term_years": 5
      },
      {
        "tenant_name": "Moreno, Jones and Sanchez",
        "lease_start_date": "2019-02-27",
        "lease_end_date": "2026-05-19",
        "annual_rent": 650672,
        "rent_escalation_mechanism": "negotiated_increase",
        "renewal_options": 1
      },
      {
        "tenant_name": "Weeks-Fisher",
        "lease_start_date": "2020-09-28",
        "lease_end_date": "2029-12-21",
        "annual_rent": 582870,
        "rent_escalation_mechanism": "fixed_annual_3_percent",
        "renewal_options": 0
      }
    ],
    "vacancy_rate_percentage": 10.38,
    "tenant_defaults_identified": true
  },
  "title_and_legal": {
    "clear_title_confirmed": true,
    "pending_litigation_related_to_property": false,
    "zoning_classification": "C-2 (Function-based clear-thinking approach)",
    "zoning_compliance_confirmed": false
  },
  "analyst_firm": "Robinson, Hicks and White"
}