Company: SQFTP
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001437749-25-010185
Chunk: 5

Company: Presidio Property Trust, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1C
Chunk 5
---
 3,891,956

     32.60
     %

     (1)
      Nova Financial & Investment Corporation was subleasing to OnPoint Medical Group Holdings, LLC (“OnPoint”), until their lease expired in January 2025.  Since October 2024, OnPoint had also been directly leasing a 2,543 square foot space in our Shea Center building.  In January 2025, OnPoint took over 11,831 square foot space from Nova Financial & Investment Corporation, signing an additional 3-year lease for that space. 

     (2)
     Genesis Plaza's occupancy at December 31, 2024 was at 95.6%. During the year, the Company invested approximately $74 thousand in building and tenant improvements for the property, expanded the space for Meissner and extended the term of their lease to 2035, and reduced the space used by the Company.  On January 1, 2025, Meissner took possession of the expanded space and Genesis Plaza was 100% leased.

Lease Expirations Tables

The following table sets forth lease expirations for our properties as of December 31, 2024, assuming that none of the tenants exercise their renewal options.

Office/Industrial and Retail Properties:

      Expiration Year 

      Number of Leases Expiring 

      Square Footage 

      Annual Rental From Lease 

      Percent of Total 

      2024 
      
      (1) 

     18

     8,835

     $
     61,578

     0.5
     %

      2025 

     34

     113,028

     1,922,087

     16.1
     %

      2026 

     36

     219,532

     3,397,567

     28.5
     %

      2027 

     21

     69,488

     1,237,116

     10.4
     %

      2028 

     21

     82,363

     1,717,719

     14.4
     %

      2029 

     14

     50,770

     1,065,589

     8.9
     %

      Thereafter 

     13

     130,794

     2,539,342

     21.