Company: SQFTP
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001437749-25-010185
Chunk: 61

Company: Presidio Property Trust, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1C
Chunk 61
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   2.87%
 Wells Fargo Bank, NA     1   300,838   2.52%
 Republic Indemnity of America     1   278,831   2.34%
 Nova Financial & Investment Corporation   (1)   1   275,071   2.30%
 Meissner Commercial Real Estate Services   (2)   1   270,015   2.26%
 Fredrikson & Byron P.A.     1   249,270   2.09%
        $3,891,956   32.60%

        F-
       9

   (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 $74k 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.

   2. SIGNIFICANT ACCOUNTING POLICIES
    
   Basis of Presentation. The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) as contained within the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”).
    
   Principles of Consolidation. The accompanying consolidated financial statements include the accounts of Presidio Property Trust, Inc. and its subsidiaries, NetREIT Advisors, LLC and Dubose Advisors LLC (collectively, the “Advisors”), and NetREIT Dubose Model Home REIT, Inc. The consolidated financial statements also include the results of the NetREIT Partnerships and the Model Home Partnerships.  As used herein, references to the “Company” include references to Presid