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Note 4 - Real Estate Assets | 9 Months Ended
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Sep. 30, 2020
Notes to Financial Statements |
Real Estate Assets [Text Block] | 4. REAL ESTATE ASSETS A summary of the properties owned by the Company as of September 30, 2020 is as follows:
|  |  |  |  |  | Real estate |
|  | Date |  |  |  | assets, net |
Property Name |  | Acquired |  | Location |  | (in thousands) |
Garden Gateway Plaza (1) |  | March 2007 |  | Colorado Springs, Colorado |  | $ | 11,439 |
World Plaza (1) |  | September 2007 |  | San Bernardino, California |  |  | 9,272 |
Executive Office Park (2) |  | July 2008 |  | Colorado Springs, Colorado |  |  | 7,581 |
Waterman Plaza (1) |  | August 2008 |  | San Bernardino, California |  |  | 3,986 |
Genesis Plaza |  | August 2010 |  | San Diego, California |  |  | 8,816 |
Dakota Center |  | May 2011 |  | Fargo, North Dakota |  |  | 8,655 |
Grand Pacific Center |  | March 2014 |  | Bismarck, North Dakota |  |  | 5,754 |
Arapahoe Center |  | December 2014 |  | Centennial, Colorado |  |  | 9,362 |
Union Town Center |  | December 2014 |  | Colorado Springs, Colorado |  |  | 9,414 |
West Fargo Industrial |  | August 2015 |  | West Fargo, North Dakota |  |  | 7,079 |
300 N.P. |  | August 2015 |  | Fargo, North Dakota |  |  | 3,308 |
Research Parkway |  | August 2015 |  | Colorado Springs, Colorado |  |  | 2,454 |
One Park Center |  | August 2015 |  | Westminster, Colorado |  |  | 8,701 |
Highland Court |  | August 2015 |  | Centennial, Colorado |  |  | 10,992 |
Shea Center II |  | December 2015 |  | Highlands Ranch, Colorado |  |  | 21,193 |
Presidio Property Trust, Inc. properties |  |  |  |  |  |  | 128,006 |
Model Home properties (3) |  | 2014 - 2020 |  | AZ, FL, IL, PA, TX, WI |  |  | 45,946 |
Total real estate assets and lease intangibles, net |  |  |  |  |  | $ | 173,952 |
(1) Properties held for sale as of September 30, 2020. (2) This property comprises four buildings, one of which is held for sale as of September 30, 2020. (3) Includes one Model Home listed as held for sale as of September 30, 2020. Geographic Diversification Tables The following tables show a list of commercial properties owned by the Company grouped by state and geographic region as of September 30, 2020:
|  |  |  |  | Aggregate |  |  |  |  |  |  | Current |  |  | Approximate % |
|  | No. of |  |  | Square |  |  | Approximate % |  |  | Base Annual |  |  | of Aggregate |
State |  | Properties |  |  | Feet |  |  | of Square Feet |  |  | Rent |  |  | Annual Rent |
California |  | 3 |  |  |  | 134,787 |  |  |  | 11.9 | % |  | $ | 1,782,207 |  |  |  | 12.3 | %
Colorado |  | 8 |  |  |  | 597,912 |  |  |  | 52.9 | % |  |  | 9,183,486 |  |  |  | 63.4 | %
North Dakota |  | 4 |  |  |  | 397,039 |  |  |  | 35.2 | % |  |  | 3,525,685 |  |  |  | 24.3 | %
Total |  | 15 |  |  |  | 1,129,738 |  |  |  | 100.0 | % |  | $ | 14,491,378 |  |  |  | 100.0 | %
The following tables show a list of our Model Home properties by geographic region as of September 30, 2020:
|  |  |  |  |  |  |  |  |  |  |  |  | Current |  |  | Approximate |
|  | No. of |  |  | Aggregate |  |  | Approximate % |  |  | Base Annual |  |  | of Aggregate |
Geographic Region |  | Properties |  |  | Square Feet |  |  | of Square Feet |  |  | Rent |  |  | % Annual Rent |
Southwest |  | 104 |  |  |  | 305,203 |  |  |  | 83.7 | % |  | $ | 3,036,024 |  |  |  | 80.2 | %
Southeast |  | 18 |  |  |  | 41,621 |  |  |  | 11.4 | % |  |  | 499,320 |  |  |  | 13.2 | %
Midwest |  | 2 |  |  |  | 6,602 |  |  |  | 1.8 | % |  |  | 99,276 |  |  |  | 2.6 | %
East |  | 2 |  |  |  | 5,255 |  |  |  | 1.4 | % |  |  | 70,716 |  |  |  | 1.9 | %
Northeast |  | 2 |  |  |  | 6,153 |  |  |  | 1.7 | % |  |  | 80,844 |  |  |  | 2.1 | %
Total |  | 128 |  |  |  | 364,834 |  |  |  | 100 | % |  | $ | 3,786,180 |  |  |  | 100 | %

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