Company: SQFTP
Filing Date: 2025-12-15
Form Type: S-11
Source: 0001493152-25-027787
Chunk: 27

Company: Presidio Property Trust, Inc.
Filing Date: 2025-12-15
Form: S-11
Chunk 27
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 one-story flex/office property located in Denver’s Southeast submarket, a location popular with                  
 technology firms. Although the property was fully leased upon acquisition, the property had entered into foreclosure and we purchased 
 it from the lender. We subsequently negotiated a lease buy-out from one of the tenants and expanded the adjacent tenant, resulting    
 in additional revenue from the buy-out fee and a long-term lease extension while retaining 100% occupancy.                            |
| ● | One                                                                                                                                   
 Park Centre is a four-story office building located in Westminster, a suburb north of Denver. Similar to many of our acquisitions,    
 when we acquired this property it had strong in-place cash flow with several leases at below-market rent. To add further value, we    
 are renovating the common areas to create a more modern environment desired by today’s tenants. The property’s location               
 caters to local businesses preferring to locate near employee housing rather than commuting to Denver’s other employment centers.     |
| ● | Shea                                                                                                                                  
 Center II is a four-story, Class “A” office building located in Denver’s Highlands Ranch community. This location                     
 just south of Highway 470 west of Denver with new walkable amenities across the street is attractive to tenants living in upscale     
 Highlands Ranch and other nearby suburbs. On December 31, 2022, the lease for our largest tenant, Halliburton, expired. Halliburton   
 was located in our Shea Center II property in Colorado, and made up approximately $536,080 of our annual base rent. Halliburton did   
 not renew the lease and we placed approximately $1.1 million in a reserve account with our lender to cover future mortgage payments,  
 if necessary, none of which has been used as of September 30, 2025. Our management team is working to fill the 45,535 square foot     
 space and has leased approximately 69% of the space to other tenants and has reviewed various proposals for the remaining 31%. As     
 of September 30, 2025, management is pursuing third party tenants who fit into our long-term plans, however, there is no guarantee    
 we will be successful in signing new tenants. During the nine months ended September 30, 2025, we have reassessed the value of the    
 property and recorded an impairment charge of approximately $0.9 million.                                                             |

Maryland Property

| ● | McElderry                                                                                                                          
 - located in Baltimore, Maryland, is a single-tenant, 31,752 sqft building