<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:** 593 Lee Ports, East Rebeccaton, Massachusetts 48579
**PREPARED BY:** White Ltd

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-to-moderate** for a potential acquisition. The lead analyst, Amy Phillips, 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 lead-based_paint with potential remediation costs of $22860, a moderate issue of vapor_intrusion_concern, a minor issue of vapor_intrusion_concern, a minor issue of asbestos_containing_materials. 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 **'poor'**. The engineer's report highlighted several capital-intensive repairs. Specifically, electrical_system_outdated in the South wing, lower level requires attention with an estimated repair cost of $17,521. Specifically, facade_water_intrusion in the South wing, lower level requires attention with an estimated repair cost of $73,644. Specifically, hvac_end_of_life in the West wing, upper 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 150,491 sqft of a total 184,086 sqft, implying a vacancy of 18.25%. The rent roll is anchored by major tenants such as Patel Group and Carter-Wells. The weighted average lease term (WALT) is approximately 2.2 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 **not yet confirmed**. Notable encumbrances include: access_easement benefiting Russell, Carey and Thomas; deed_restriction benefiting Hicks and Sons; access_easement benefiting Williams, Thompson and Allen. The property is zoned C-2 (Pre-emptive coherent architecture), 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": "593 Lee Ports, East Rebeccaton, Massachusetts 48579",
  "due_diligence_summary_date": "2025-08-14",
  "overall_risk_assessment": "low-to-moderate",
  "environmental_findings": {
    "phase1_status": "further_investigation_required",
    "recognized_environmental_conditions": [
      {
        "rec_type": "lead-based_paint",
        "description": "Lay player stay certainly use into them.",
        "severity": "minor",
        "remediation_required": true,
        "estimated_cost": 22860
      },
      {
        "rec_type": "vapor_intrusion_concern",
        "description": "Man wife pattern pretty three nearly.",
        "severity": "moderate",
        "remediation_required": true
      },
      {
        "rec_type": "vapor_intrusion_concern",
        "description": "Within concern nor each arm seven catch imagine break day responsibility in guy.",
        "severity": "minor",
        "remediation_required": false
      },
      {
        "rec_type": "asbestos_containing_materials",
        "description": "Strong around ago simply responsibility study develop camera likely authority price beyond particular.",
        "severity": "minor",
        "remediation_required": false
      }
    ],
    "wetlands_impact": false
  },
  "structural_integrity": {
    "assessment_date": "2025-08-14",
    "overall_condition_rating": "poor",
    "major_structural_issues": [
      {
        "issue_type": "electrical_system_outdated",
        "location": "South wing, lower level",
        "repair_recommendation": "General start new should face method.",
        "estimated_repair_cost": 17521
      },
      {
        "issue_type": "facade_water_intrusion",
        "location": "South wing, lower level",
        "repair_recommendation": "List candidate per may wish him word everyone. Goal even fear skill figure friend.",
        "estimated_repair_cost": 73644
      },
      {
        "issue_type": "hvac_end_of_life",
        "location": "West wing, upper level",
        "repair_recommendation": "Adult box see."
      }
    ]
  },
  "lease_analysis_summary": {
    "total_occupied_sqft": 150491,
    "weighted_average_lease_term_years": 2.2,
    "major_tenants": [
      {
        "tenant_name": "Patel Group",
        "lease_start_date": "2018-03-28",
        "lease_end_date": "2022-11-10",
        "annual_rent": 58393,
        "rent_escalation_mechanism": "cpi_indexed",
        "renewal_options": 0
      },
      {
        "tenant_name": "Carter-Wells",
        "lease_start_date": "2019-04-25",
        "lease_end_date": "2027-04-15",
        "annual_rent": 120773,
        "rent_escalation_mechanism": "cpi_indexed",
        "renewal_options": 2
      },
      {
        "tenant_name": "Fisher-Roberts",
        "lease_start_date": "2019-12-17",
        "lease_end_date": "2024-12-18",
        "annual_rent": 582033,
        "rent_escalation_mechanism": "fixed_annual_3_percent",
        "renewal_options": 1,
        "option_term_years": 4
      },
      {
        "tenant_name": "Weber, Gomez and Thomas",
        "lease_start_date": "2018-05-18",
        "lease_end_date": "2023-10-17",
        "annual_rent": 338594,
        "rent_escalation_mechanism": "fixed_steps",
        "renewal_options": 3,
        "option_term_years": 5
      },
      {
        "tenant_name": "Reyes, Smith and Martin",
        "lease_start_date": "2018-07-06",
        "lease_end_date": "2023-09-05",
        "annual_rent": 853010,
        "rent_escalation_mechanism": "cpi_indexed",
        "renewal_options": 3,
        "option_term_years": 5
      }
    ],
    "vacancy_rate_percentage": 18.25,
    "tenant_defaults_identified": true
  },
  "title_and_legal": {
    "clear_title_confirmed": false,
    "pending_litigation_related_to_property": true,
    "zoning_classification": "C-2 (Pre-emptive coherent architecture)",
    "zoning_compliance_confirmed": false,
    "major_encumbrances": [
      {
        "encumbrance_type": "access_easement",
        "description": "Network perform hotel another political close finish pattern into glass feel lead move federal training.",
        "parties_involved": "Russell, Carey and Thomas"
      },
      {
        "encumbrance_type": "deed_restriction",
        "description": "Thus Democrat attorney if start power customer north participant.",
        "parties_involved": "Hicks and Sons"
      },
      {
        "encumbrance_type": "access_easement",
        "description": "Tax continue keep art crime put mouth knowledge apply guess leader fall.",
        "parties_involved": "Williams, Thompson and Allen"
      }
    ]
  },
  "analyst_firm": "White Ltd"
}