Company: CMCT
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000908311-25-000038
Chunk: 97

Company: Creative Media & Community Trust Corp
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 1
Chunk 97
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4 were approximately $1.0 million and $2.7 million, respectively. Giving effect to abatements, net annualized rent per occupied square foot was $58.00 and $56.32 as of March 31, 2025 and 2024, respectively (See Definitions for more detail).

Over the next four quarters, we expect to see expiring cash rents as set forth in the table below (includes 100% of our properties partially owned through Unconsolidated Joint Ventures):

 For the Three Months Ended June 30, 2025September 30, 2025December 31, 2025March 31, 2026Expiring Cash Rents:    Expiring square feet (1)36,702 44,080 3,857 36,185 Expiring rent per square foot (2)$74.36 $62.89 $47.19 $38.36 

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(1)Month-to-month tenants occupying a total of 4,193 square feet are included in the expiring leases in the first quarter listed.

(2)Represents gross monthly base rent, as of March 31, 2025, under leases expiring during the periods above, multiplied by 12. This amount reflects total cash rent before abatements. Where applicable, annualized rent has been grossed up by adding annualized expense reimbursements to base rent. 

During the three months ended March 31, 2025, we executed leases with terms longer than 12 months totaling 30,333 square feet. The table below sets forth information on certain of our executed leases during the three months ended March 31, 2025, excluding space that was vacant for more than one year, month-to-month leases, leases with an original term of less than 12 months, related party leases, and space where the previous tenant was a related party:  

Number ofLeases (1)RentableSquareFeetNew CashRents perSquareFoot (2)ExpiringCashRents perSquareFoot (2)Three Months Ended March 31, 2025721,581$54.93 $56.27 

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(1)Based on the number of tenants that signed leases.

(2)Cash rents represent gross monthly base rent, multiplied by 12. This amount reflects total cash rent before abatements. Where applicable, annualized rent has been grossed up by