Maris Advisors — Acquisition Intelligence

Stop Managing a Checklist.
Start Underwriting a Future.

Navigating the complexities of a commercial facility purchase — especially in sectors like Office, Semiconductor, Medical, and Industrial — requires more than just a checklist. It requires strategic foresight.

ClearPath Purchase Engine™ is our proprietary platform designed to transform raw due diligence data into actionable financial intelligence. This isn’t just a tracking tool — it’s a “Control Tower” for your next acquisition, ensuring you never overpay for hidden risks.

32 years — Corporate Consultancy
Buyers Only — Never Sellers. Never Landlords.
Zero Conflicts — Exclusively Tenant & Buyer Representation
The ClearPath Purchase Engine™

More Than Due Diligence.
A Risk Mitigation Engine.

Large firms use Argus for valuation and a separate checklist for due diligence. They rarely talk to each other in real time. ClearPath integrates every technical finding — from the Preliminary Title Report to the Building Physical Inspection — directly into a live financial model. If the Environmental Investigation finds a $50,000 soil issue, the Deal Health Score and the Net Purchase Price update instantly. The moment a risk is detected, the Action Engine drafts the legal response.

The Competitive Advantage

Institutional tools report the problem. ClearPath writes the objection letter. While JLL and CBRE provide PDF summaries, ClearPath delivers a live Risk-Adjusted Valuation and a three-option Negotiation Playbook the moment a defect is flagged — turning days of manual legal review into under 60 minutes.

How ClearPath Works

From Raw Reports to Executed Strategy — Four Stages.

Every commercial acquisition moves through the same gauntlet of due diligence reports, legal documents, and financial variables. ClearPath manages all four stages simultaneously, so nothing falls through the cracks before your Earnest Money goes hard.

STAGE 01
Detect

OCR-driven scanning of every Preliminary Title Report, Environmental Investigation, Building Physical Inspection, and Tenant Estoppel Certificate. Flags “Deal Killers” instantly — from undisclosed liens to structural slab failures — the moment reports are uploaded.

STAGE 02
Quantify

The Financial Bridge links every technical defect directly to the Closing Statement. A roof at End of Life, a Hazardous Material finding, or an unfunded TI allowance — each automatically calculates its Yield-at-Risk impact and updates the Deal Health Score in real time.

STAGE 03
Execute

The Action Engine auto-drafts the precise legal response: Notice of Objection, Price Reduction Request, Escrow Holdback calculation, or Notice of Termination — each pre-populated from the PSA section number and the specific defect identified. The Burn Clock never stops ticking unattended.

STAGE 04
Transition

The intelligence doesn’t stop at the closing table. ClearPath manages the post-closing hand-off: all Agreements Assigned to Buyer, a 5-Year CapEx Reserve Schedule, Warranty Vault population, utility transfer countdown, and Certificate of Occupancy tracking for Day 1 readiness.

Asset Class Intelligence

Select Your Property Type. Reveal the Hidden Risks.

Standard checklists apply the same logic to a medical office building as they do to a warehouse. ClearPath doesn’t. Select your asset class below to see the five deal-killers that most buyers never find — and that ClearPath catches automatically.

Red — Deal Killer
Right of First Refusal (ROFR)

A tenant ROFR buried in estoppels gives that tenant the right to match any purchase offer — destroying your ability to resell the building. Standard checklists rarely surface this until it’s too late.

→ Auto-flagged in ClearPath Tenant Risk Scraper
Amber — Capital Exposure
CAM Reconciliation Underbilling

If the seller has been under-billing tenants for Common Area Maintenance, the buyer inherits the true cost of ownership. A 3-year CAM audit is required to expose the real NOI.

→ Surfaces in ClearPath Financial Bridge
Red — Deal Killer
Zoning Legal Non-Conformance

If the building is “Legal Non-Conforming” (grandfathered), it cannot be rebuilt to its current size after a casualty event. Lenders see this as a major risk — and often refuse to lend at full value.

→ Flagged in ClearPath Zoning Intelligence Module
Amber — Capital Exposure
Fiber / MDF Infrastructure Gap

Modern office tenants require verified fiber entry points and cooled MDF rooms. Buildings that lack this face significant tenant retention risk — and the cost to retrofit is rarely disclosed in seller marketing.

→ Identified in ClearPath Physical Inspection module
Blue — Operational Risk
Exclusive Use Provision Conflicts

An existing tenant may hold an “Exclusive Use” clause that restricts you from leasing the vacant suite to a competing business — silently limiting your future leasing options and building value.

→ Scanned automatically in ClearPath Lease Abstraction
Red — Deal Killer
Stark Law / Anti-Kickback Violation

If a physician-tenant is paying below-market rent, the lease may constitute an illegal referral inducement under federal law — exposing the new owner to liability and making the lease terminable.

→ Flagged in ClearPath Compliance Auditor
Red — Deal Killer
Certificate of Need (CON) Status

In many states, operating specific medical services requires government approval. A facility operating without a valid CON — or one tied to the prior owner — may lose its license at transfer.

→ Verified in ClearPath Regulatory Module
Amber — Capital Exposure
HEPA / Air Exchange Deficiency

Clinical areas require specialized air filtration and exchange rates far exceeding standard HVAC. Retrofitting to meet HEPA standards after purchase can run $75,000–$200,000 per clinical suite.

→ Calculated in ClearPath CapEx Waterfall
Red — Deal Killer
MRI / Imaging Equipment UCC Liens

High-value imaging equipment is frequently encumbered by UCC-1 financing statements. If the seller’s lender holds a security interest in the MRI or CT scanner, the buyer may not take clean title to the equipment.

→ Scanned in ClearPath UCC Search module
Amber — Capital Exposure
RF Shielding & Slab Reinforcement

Adding MRI or CT capability requires RF shielding and floor slab reinforcement. A building designed for standard office conversion to imaging use can require $500,000+ in structural modifications not visible in marketing materials.

→ Flagged in ClearPath Construction Plans module
Amber — Capital Exposure
Clear Height Misrepresentation

A “28-foot clear” building that actually has fire suppression piping hanging at 24 feet is a material operational failure for any logistics tenant. This gap is almost never caught in standard checklist reviews.

→ Verified in ClearPath Physical Inspection module
Amber — Capital Exposure
ESFR Sprinkler Rating Deficiency

If the Early Suppression Fast Response sprinkler system isn’t rated for high-pile storage, the buyer faces six-figure upgrade costs before any modern logistics tenant can operate. Rarely disclosed upfront.

→ Flagged in ClearPath Industrial Inspection module
Red — Deal Killer
Truck Court Depth Failure

Modern 53-foot trailers require a minimum 130–150 foot truck court turning radius. A building that falls short cannot serve standard logistics operations — eliminating the majority of industrial tenants from the prospect pool.

→ Analyzed in ClearPath Survey module
Amber — Capital Exposure
Slab PSI Below Equipment Load

Floor thickness and PSI ratings must support the buyer’s intended racking systems or machinery. A slab rated for standard warehouse use may require a full reinforced pour for heavy manufacturing or high-density racking.

→ Quantified in ClearPath CapEx Waterfall
Blue — Operational Risk
3-Phase Power Constraint

Industrial and manufacturing tenants universally require 3-phase power. A building at 95% electrical capacity with no feasible utility upgrade path silently eliminates the highest-value tenant pool before a lease is even proposed.

→ Identified in ClearPath Utilities module
Red — Deal Killer
Vibration Criteria (VC) Failure

Semiconductor lithography tools require near-zero vibration levels (VC-E classification). A nearby rail line, freeway, or mechanical equipment can push a building from VC-E to VC-B — making it operationally useless for precision manufacturing and dropping its value by 30–40%.

→ Detected in ClearPath Vibration & Structural module
Red — Deal Killer
ISO Cleanroom Certification Lapse

Cleanroom certification (ISO 1 through ISO 9) expires. A building marketed as “ISO 5 certified” with a certification that lapsed 18 months ago may require a full re-commissioning — including HEPA/ULPA filter replacement and air change rate verification — costing $500,000 or more.

→ Verified in ClearPath Cleanroom Certification module
Red — Deal Killer
HPM Gas Bunker Non-Compliance

Hazardous Production Materials (chemical gases used in semiconductor fabrication) are stored in specialized bunkers regulated by local fire code. If current bunker capacity or piping doesn’t meet fire code for the planned production volume, the facility cannot operate as a fab.

→ Audited in ClearPath HPM Compliance module
Amber — Capital Exposure
Process Cooling Water (PCW) Capacity

Lithography tools require high-volume industrial cooling water loops. If the building’s PCW capacity is below 80% of the intended tool-set requirement, the shortfall must be engineered pre-occupancy — often requiring new chiller infrastructure at seven-figure cost.

→ Modeled in ClearPath Utilities Capacity module
Red — Deal Killer
Non-Isolated Slab for Precision Tools

High-precision manufacturing tools require a structurally decoupled (isolated) concrete slab. A standard industrial slab transfers mechanical vibration from HVAC, loading docks, and foot traffic directly to tool calibration systems — rendering the building inoperable for sub-10nm manufacturing.

→ Flagged in ClearPath Structural Decoupling module
Red — Deal Killer
Parking Ratio Code Violation

Flex buildings are frequently zoned for warehouse-density parking (1:1,000 SF) but operated at office-density headcounts (4:1,000 SF). If the buyer intends high-headcount R&D use, the parking deficit may require a variance — which is not guaranteed and can halt occupancy.

→ Audited in ClearPath Zoning Intelligence module
Amber — Capital Exposure
Unpermitted Mezzanine Space

Mezzanine additions are frequently built without permits and included in the marketed rentable square footage. An unpermitted mezzanine must be disclosed to lenders, may not be insurable, and cannot be legally occupied — potentially reducing the building’s financeable square footage.

→ Verified in ClearPath Building Permits module
Amber — Capital Exposure
HVAC Zoning Incompatibility

Flex buildings require separate HVAC systems for the office component and the warehouse component. A building with shared HVAC cannot independently climate-control cleanroom or server room environments — a critical gap for R&D or technology tenants.

→ Identified in ClearPath Mechanical Systems module
Blue — Operational Risk
Undisclosed TI Allowance Liability

If a lease was recently signed but the Tenant Improvement allowance hasn’t been disbursed yet, the buyer inherits the obligation to fund that construction — a liability the seller is motivated not to highlight in the offering memorandum.

→ Surfaced in ClearPath Lease Abstraction & Estoppel module
Blue — Operational Risk
Grade-Level Door Condition

Motor-operated grade-level roll-up doors are frequently deferred in seller maintenance programs. Failed door motors, misaligned tracks, or insufficient clearance heights are among the most common post-closing capital surprises in flex acquisitions.

→ Documented in ClearPath Physical Inspection module
Inside ClearPath Purchase Engine™

The CEO-Ready Command Center.

Every ClearPath analysis culminates in an Investor Dashboard that translates hundreds of pages of technical reports into five executive-level decision instruments — updated in real time as findings are uploaded.

Instrument 01
Deal Health Score

A live 0–100 dial that starts at 100 and deducts points for every flagged defect. A Phase II Environmental recommendation costs 25 points. A failing vibration floor costs the deal. The Score gives every stakeholder instant situational awareness without reading a single report.

Instrument 02
The Financial Bridge

A waterfall chart showing the transition from Asking Price to Risk-Adjusted Offer Price — with every deduction itemized. Deferred maintenance, unfunded TIs, environmental remediation, and structural repairs are translated into hard dollar credits on the Closing Statement.

Instrument 03
The Burn Clock

A persistent countdown showing exactly how many days remain in the Due Diligence Period — and a hard-money warning showing hours remaining until the Earnest Money Deposit becomes non-refundable. No deal dies because someone forgot a deadline.

Instrument 04
Action Engine

Every Red Flag triggers a contextual action button: Draft Objection, Request Escrow Holdback, Notify Lender, or Initiate Termination. Each document is auto-populated from PSA section numbers, specific defect language, and calculated credit amounts — ready to transmit within minutes of a finding.

Instrument 05
Yield-at-Risk Widget

The Market Cap Rate vs. the Adjusted Yield after accounting for all due diligence findings. If the Environmental Investigation reduces NOI, if CapEx deductions change the basis, or if tenant credit risk emerges from estoppels — the delta updates instantly and flags when the deal no longer pencils.

Instrument 06
Post-Closing Playbook

Day 1 begins before Close of Escrow. ClearPath generates a complete vendor transition plan, utility switchover countdown, warranty vault, 5-Year CapEx Reserve Schedule, and permit tracking list — so the new ownership team has a running start the moment title transfers.

5+
Asset Classes. One Engine.
Office, Medical, Industrial, Semiconductor, and Flex — each with conditional logic tuned to its specific risk profile.
<60min
Time-to-Objection
From uploaded report to drafted Notice of Objection — compared to 10 days of manual legal review at institutional firms.
0
Seller Clients. Ever.
ClearPath is built for buyers only. Our intelligence finds what the seller hoped you’d never ask about — before your EMD goes hard.
Start the Conversation

Let’s talk about your acquisition.

480-625-9059

sbordley@marisadvisors.com

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Steve Bordley · Principal / Broker · 32 years of corporate consultancy. Buyer representation only. No landlord clients. No conflicts. No exceptions.