Company: SQFTP
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001437749-25-016828
Chunk: 51

Company: Presidio Property Trust, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 8
Chunk 51
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5, depreciation expense totaled approximately $1.1 million. For the three months ended  March 31, 2024, depreciation expense totaled approximately $1.2 million.    

   5. LEASE INTANGIBLES
    
   The following table summarizes the net value of other intangible assets acquired and the accumulated amortization for each class of intangible asset:

       March 31, 2025    December 31, 2024  
   Lease Intangibles    Accumulated Amortization    Lease Intangibles, net    Lease Intangibles    Accumulated Amortization    Lease Intangibles, net  
 In-place leases  $2,377,414  $(2,369,394) $8,020  $2,515,264  $(2,504,799) $10,465 
 Leasing costs   1,098,117   (1,090,742)  7,375   1,261,390   (1,252,078)  9,312 
 Above-market leases   —   —   —   333,485   (333,485)  — 
  $3,475,531  $(3,460,136) $15,395  $4,110,139  $(4,090,362) $19,777 

       18

   At  March 31, 2025, and  December 31, 2024, there were no gross lease intangible assets and accumulated amortization related to the lease intangible assets included in real estate assets held for sale.
    
   The net value of acquired intangible liabilities was approximately $7,047 and $8,625 relating to below-market leases at  March 31, 2025 and  December 31, 2024, respectively.
    
   Future aggregate approximate amortization expense for the Company's lease intangible assets is as follows:

     Years ending December 31:     
 2025   11,288 
 2026   4,107 
 Total  $15,395 

   6. OTHER ASSETS
    
   Other assets consist of the following:

       March 31,    December 31,