XML 25 R10.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Real Estate Assets | 12 Months Ended
--- | ---
Dec. 31, 2017
Real Estate Assets [Abstract] |
Real Estate Assets | 4. REAL ESTATE ASSETS The Company owns a diverse portfolio of real estate assets. The primary types of properties the Company invests in are office, industrial, retail, and NNN leased model home properties located primarily in Southern California and Colorado, with four properties located in North Dakota. Our model home properties are located in ten states. As of December 31, 2017, the Company owned or had an equity interest in:
| • | Fifteen office buildings and two industrial buildings (“Office/Industrial Properties”) which total approximately 1,463,390 rentable square feet,
| • | Five retail shopping centers (“Retail Properties”) which total approximately 228,260 rentable square feet,
| • | One hundred thirty-two model homes owned by our affiliated limited partnerships and one limited liability company (“Model Home Properties”).
The Company’s real estate assets consisted of the following as of December 31, 2017 and 2016:
|  |  |  |  |  | Real estate assets, net (in thousands) |
Property Name |  | Acquired |  | Location |  | 2017 |  |  | 2016 |
Garden Gateway Plaza |  | March 2007 |  | Colorado Springs, Colorado |  |  | 11,434 |  |  |  | 11,656 |
World Plaza (1) |  | September 2007 |  | San Bernardino, California |  |  | 5,743 |  |  |  | 5,750 |
Regatta Square |  | October 2007 |  | Denver, Colorado |  |  | - |  |  |  | 1,836 |
Executive Office Park |  | July 2008 |  | Colorado Springs, Colorado |  |  | 8,076 |  |  |  | 8,125 |
Waterman Plaza |  | August 2008 |  | San Bernardino, California |  |  | 5,624 |  |  |  | 5,753 |
Pacific Oaks Plaza |  | September 2008 |  | Escondido, California |  |  | 4,040 |  |  |  | 4,146 |
Morena Office Center |  | January 2009 |  | San Diego, California |  |  | 4,870 |  |  |  | 5,079 |
Rangewood Medical Office Building |  | March 2009 |  | Colorado Springs, Colorado |  |  | - |  |  |  | 2,054 |
Genesis Plaza |  | August 2010 |  | San Diego, California |  |  | 8,609 |  |  |  | 8,670 |
Dakota Center |  | May 2011 |  | Fargo, North Dakota |  |  | 9,635 |  |  |  | 10,148 |
Yucca Valley Retail Center (1) |  | September 2011 |  | Yucca Valley, California |  |  | 6,605 |  |  |  | 6,738 |
Port of San Diego Complex |  | December 2011 |  | San Diego, California |  |  | 13,888 |  |  |  | 14,153 |
Shoreline Medical Building |  | May 2012 |  | Half Moon Bay, California |  |  | - |  |  |  | 5,821 |
The Presidio |  | November 2012 |  | Aurora, Colorado |  |  | 6,415 |  |  |  | 6,609 |
Grand Pacific Center |  | March 2014 |  | Bismarck, ND |  |  | 5,854 |  |  |  | 5,392 |
Union Terrace Building |  | August 2014 |  | Lakewood, Colorado |  |  | 8,287 |  |  |  | 8,276 |
Centennial Tech Center |  | December 2014 |  | Colorado Springs, Colorado |  |  | 13,431 |  |  |  | 14,157 |
Arapahoe Service Center |  | December 2014 |  | Centennial, Colorado |  |  | 10,638 |  |  |  | 11,207 |
Union Town Center |  | December 2014 |  | Colorado Springs, Colorado |  |  | 10,209 |  |  |  | 10,544 |
West Fargo Industrial |  | August 2015 |  | Fargo, North Dakota |  |  | 7,455 |  |  |  | 7,632 |
300 N.P. |  | August 2015 |  | Fargo, North Dakota |  |  | 3,636 |  |  |  | 3,751 |
Research Parkway |  | August 2015 |  | Colorado Springs, Colorado |  |  | 2,686 |  |  |  | 2,776 |
One Park Centre |  | August 2015 |  | Westminster, Colorado |  |  | 8,514 |  |  |  | 8,515 |
Highland Court |  | August 2015 |  | Centennial, Colorado |  |  | 12,287 |  |  |  | 12,511 |
Shea Center II |  | December 2015 |  | Highlands Ranch, Colorado |  |  | 23,352 |  |  |  | 24,409 |
Office/Industrial and Retail Properties |  |  |  |  |  |  | 191,288 |  |  |  | 205,708 |
Model Home Properties |  | 2011-2017 |  | AZ, CA, FL, IL, NC, NJ, PA, SC, TX, UT |  |  | 43,246 |  |  |  | 34,814 |
|  | Total real estate assets and lease intangibles held for investment, net |  | $ | 234,534 |  |  | $ | 240,522 |
(1) | Properties held for sale as of December 31, 2017.
The Company’s commercial properties are leased to tenants under non-cancelable operating leases for which terms and expirations vary. Future minimum rental revenues under existing leases on Office/Industrial and Retail Properties as of December 31, 2017 are expected to be as follows:
2018 |  |  | $ | 4,152,902 |
2019 |  |  |  | 3,024,939 |
2020 |  |  |  | 4,038,939 |
2021 |  |  |  | 3,639,270 |
2022 |  |  |  | 3,274,748 |
Thereafter |  |  |  | 2,847,435 |
Totals |  |  | $ | 20,978,233 |
The Company generally rents Model Home Properties to homebuilders under non-cancelable lease agreements with a term of eighteen months with an option to extend in six month increments. Future minimum rental revenues under existing leases on Model Home Properties as of December 31, 2017 are expected to be as follows:
2018 |  |  | $ | 2,374,680 |
2019 |  |  |  | 1,348,776 |
|  |  | $ | 3,723,456 |

X
- Definition Real estate assets abstract. + References No definition available. + Details
Name: | sqft_RealEstateAssetsAbstract
Namespace Prefix: | sqft_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for certain real estate assets. + References No definition available. + Details
Name: | sqft_RealEstateAssetsTextBlock
Namespace Prefix: | sqft_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration