Company: SQFTP
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001437749-25-010185
Chunk: 1441

Company: Presidio Property Trust, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 2
Chunk 1441
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General Information

We invest in a diverse multi-tenant portfolio of real estate assets primarily consisting of office/industrial, retail, and model home properties located primarily in the western United States. As of December 31, 2024, we owned or had an equity interest in nine office/industrial buildings totaling approximately 758,175 rentable square feet and three retail centers totaling approximately 65,242 rentable square feet. In addition, through our Model Home subsidiary and our investments in six limited partnerships and one corporation, we own a total of  78 Model Home Properties located in three states, totaling approximately 236,955 square feet. Of the 78 Model Home Properties in our portfolio, 55  of them are wholly owned by the Company through NetREIT Model Homes, Inc. We directly manage the operations and leasing of our properties. Substantially all of our revenues consist of base rents received under leases that generally have terms that range from one to five years.  The majority of our existing leases as of December 31, 2024 contain contractual rent increases that provide for increases in the base rental payments. Our tenants consist of local, regional and national businesses. Our properties generally attract a mix of diversified tenants creating lower risk in periods of economic fluctuations. Our largest tenant represented approximately 6.07%  of total revenues for the year ended December 31, 2024.

Geographic Diversification Table

The following table shows a list of properties we owned as of December 31, 2024, grouped by the state where each of our investments is located.

Office/Industrial and Retail Properties:

      State 
      
      No. of Properties 

      Aggregate Square Feet 

      Approximate % of Square Feet 

      Current Base Annual Rent 

      Approximate % of Aggregate Annual Rent 

      California 

     1

     57,807

     7.0
     %
      
     $
     1,542,066

     12.9
     %

      Colorado 

     5

     324,245

     39.4
     %

     5,766,166

     48.2
     %

      Maryland 

     1

     31,752

     3.9
     %

     724,453

     6.1
     %

      North Dakota 

     4

     399,113

     48.