<format type="json">{report_id: string, property_address: {street: string, city: string, state: string, zip_code: string, parcel_id: string optional}, due_diligence_date: date, property_details: {property_type: string, lot_size_sqft: number optional, building_sqft: number optional, year_built: number optional}, environmental_findings: array of {report_type: string, date_of_report: date, consultant: string, findings: array of {contaminant_type: string, location: string, risk_level: string, remediation_required: boolean, estimated_cost: number optional}}, structural_findings: array of {report_type: string, date_of_report: date, consultant: string, issues: array of {issue_description: string, severity: string, recommendations: string, estimated_repair_cost: number optional}}, zoning_compliance: {current_zone: string, permitted_uses: array of string, non_conforming_issues: boolean, notes: string optional}, legal_encumbrances: array of {type: string, description: string, impact_on_property: string, cleared_status: boolean} optional, overall_risk_assessment: {summary_assessment: string, total_estimated_mitigation_cost: number optional, recommendation: string}}</format> <data>MEMORANDUM

TO: Investment Committee
FROM: Due Diligence Team
DATE: 2024-11-05
SUBJECT: Analysis of Property at 9275 Francisco Rest Suite 725, West Stephanie, Minnesota 58801 (Report ID: DDR-2024-273-Minnesota)

This report synthesizes the findings from our comprehensive due diligence on the subject property, a industrial facility reportedly constructed circa an unknown date. The site inspection was conducted under favorable weather conditions, which aided the external reviews. The property is currently zoned as C-2 Light Industrial, which appears to align with its historical and intended use.

Environmental assessments, primarily conducted by Hughes, Waters and Williams, identified several key issues. The most recent report dated 2024-01-18 highlighted a high risk of Petroleum hydrocarbons in the Roofing materials (est. cost: $76,218); a moderate risk of VOCs in the Soil near UST (est. cost: $94,240). This follows an initial Phase I that suggested the need for further subsurface investigation.

The title search revealed 1 notable encumbrance(s), of which 1 have been marked as cleared. A standard utility easement along the eastern boundary, for instance, poses minimal impact on future development. Other items are pending review by legal counsel.

In conclusion, our analysis indicates a high risk proceed with caution. The cumulative financial exposure for the identified deficiencies is estimated to be in the region of $170,458, though this figure is preliminary. Based on these findings, our recommendation is as follows: Proceed only with significant seller concessions and a clear remediation plan. Further investigation is advised.</data>
{
  "report_id": "DDR-2024-273-Minnesota",
  "property_address": {
    "street": "9275 Francisco Rest Suite 725",
    "city": "West Stephanie",
    "state": "Minnesota",
    "zip_code": "58801",
    "parcel_id": "WES-99625-6178"
  },
  "due_diligence_date": "2024-11-05",
  "property_details": {
    "property_type": "industrial",
    "building_sqft": 148610
  },
  "environmental_findings": [
    {
      "report_type": "Phase I ESA",
      "date_of_report": "2023-11-27",
      "consultant": "Hughes, Waters and Williams",
      "findings": [
        {
          "contaminant_type": "None detected",
          "location": "Overall site",
          "risk_level": "low",
          "remediation_required": false
        }
      ]
    },
    {
      "report_type": "Phase II ESA",
      "date_of_report": "2024-05-16",
      "consultant": "Blanchard, Wallace and Benson",
      "findings": [
        {
          "contaminant_type": "VOCs",
          "location": "Roofing materials",
          "risk_level": "low",
          "remediation_required": false
        },
        {
          "contaminant_type": "VOCs",
          "location": "Groundwater",
          "risk_level": "low",
          "remediation_required": false
        },
        {
          "contaminant_type": "Petroleum hydrocarbons",
          "location": "Roofing materials",
          "risk_level": "high",
          "remediation_required": true,
          "estimated_cost": 76218
        }
      ]
    },
    {
      "report_type": "Phase II ESA",
      "date_of_report": "2024-01-18",
      "consultant": "Burgess-Wilkerson",
      "findings": [
        {
          "contaminant_type": "Asbestos",
          "location": "Sub-slab vapor",
          "risk_level": "low",
          "remediation_required": false
        },
        {
          "contaminant_type": "VOCs",
          "location": "Soil near UST",
          "risk_level": "moderate",
          "remediation_required": true,
          "estimated_cost": 94240
        },
        {
          "contaminant_type": "PCBs",
          "location": "Warehouse interior",
          "risk_level": "low",
          "remediation_required": false
        }
      ]
    }
  ],
  "structural_findings": [
    {
      "report_type": "Structural Engineering Review",
      "date_of_report": "2024-06-17",
      "consultant": "Garrett Group",
      "issues": [
        {
          "issue_description": "Mouth home material onto write off in the roof trusses.",
          "severity": "minor",
          "recommendations": "Cost white cup myself garden conference follow drive report."
        },
        {
          "issue_description": "Leg perhaps seven range style prevent mother mind in the roof trusses.",
          "severity": "significant",
          "recommendations": "Interesting large for toward involve provide impact activity should company more point allow."
        }
      ]
    }
  ],
  "zoning_compliance": {
    "current_zone": "C-2 Light Industrial",
    "permitted_uses": [
      "space",
      "great",
      "involve",
      "receive",
      "civil"
    ],
    "non_conforming_issues": true
  },
  "overall_risk_assessment": {
    "summary_assessment": "high_risk_proceed_with_caution",
    "recommendation": "Proceed only with significant seller concessions and a clear remediation plan. Further investigation is advised.",
    "total_estimated_mitigation_cost": 170458
  },
  "legal_encumbrances": [
    {
      "type": "Deed Restriction",
      "description": "Evidence prepare kitchen forward fine cup never focus.",
      "impact_on_property": "minor",
      "cleared_status": true
    }
  ]
}