Company: SQFTP
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001437749-25-010185
Chunk: 6

Company: Presidio Property Trust, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1C
Chunk 6
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2
     %

      Totals 

     157

     674,810

     $
     11,940,998

     100.0
     %

      (1) 
      Two of these leases expired on December 31, 2024 and were located in our One Park Centre property, and accounted for approximately 3% of One Park Centre's annual rent and totaled approximately 2,045 square feet. The remaining leases are mainly for month to month storage, parking and other miscellaneous space. 

      42

Model Home Properties:

      Expiration Year (1) 

      Number of Leases Expiring 

      Square Footage 

      Annual Rental From Lease 

      Percent of Total 

      2024 
      (2) 

     5

     12,164

     $
     157,440

     4.6
     %

      2025 

     56

     169,824

     2,393,688

     71.0
     %

      2026 

     17

     54,967

     821,460

     24.4
     %

     78

     236,955

     $
     3,372,588

     100.0
     %

      (1) 
      These leases are subject to extensions by the home builder depending on sales of the total development.  All model homes are sold at the end of the lease period. 

     (2)
     These properties came off lease during 2024 and are listed as held for sale as of  December 31, 2024.

As of December 31, 2024  we had nine model homes listed for sale, and included in the real estate assets held for sale, net on the consolidated balance sheet as of December 31, 2024.

      43

ITEM 3. LEGAL PROCEEDINGS

From time to time, we may become involved in various lawsuits or legal proceedings which arise in the ordinary course of business. Neither the Company nor any of the Company’s properties are presently subject to any material litigation nor, to the Company’s knowledge, is there any material threatened litigation.

ITEM 4. MINE SAFETY DISCLOSURES

Not applicable.

ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SEC