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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
____________________
 
FORM 8-K
 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
 
Date of Report (Date of Earliest Event Reported): February 3, 2021 (February 3, 2021)
 
PRESIDIO PROPERTY TRUST, INC.
(Exact Name of Registrant as Specified in its Charter)
 
 
 
Maryland
 
001-34049
 
33-0841255
__________
 
__________
 
__________
(State or Other Jurisdiction of Incorporation)
 
(Commission File No.)
 
(I.R.S. Employer
Identification No.)
 
 
4995 Murphy Canyon Road, Suite 300
San Diego, California 92123
(Address of Principal Executive Offices, Including Zip Code)
____________________
 
(760) 471-8536
(Registrant’s Telephone Number, Including Area Code)
___________________
 
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
 
☐
 
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
 
 
☐
 
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
 
 
☐
 
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
 
 
☐
 
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) 
 
  
Securities registered pursuant to Section 12(b) of the Act: 
 
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Series A Common Stock,
$0.01 par value per share
SQFT
The Nasdaq Stock Market LLC
 
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
 
Emerging growth company ☐
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
 
 
 
 
 
 
 
 
 
 
 
Item 8.01
Other Events.
 
Press Release
 
On February 3, 2021, Presidio Property Trust, Inc. (the "Company") issued a press release announcing the signing of a major lease at Garden Gateway in Colorado Springs, Colorado, and made the press release available on its website, www.PresidioPT.com.  A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein.  The information in this Item 8.01 of this Current Report on Form 8-K, including the information contained in the press release, shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and is not incorporated by reference into any of the filings of the Company, whether made before or after the date hereof, regardless of any general incorporation language in any such filing.
 
Item 9.01
Financial Statements and Exhibits.
 
            (d)
Exhibits
 
          99.1
 
          104
Cover Page Interactive Data File (embedded with the inline XBRL document)
 
 
 
 
 
 
 
 
 
 
 
SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
 
 
 
Date:  February 3, 2021
 
PRESIDIO PROPERTY TRUST, INC.
 
 
 
 
By:          /s/ Ann T. Nguyen 
 
 
Ann T. Nguyen 
 
 
General Counsel & Secretary
 
 
 
 
 
 

 

Exhibit 99.1

EX_224181IMG001.GIF

 

 

Presidio Property Trust Announces

Signing of Major Lease with U.S. General Services Administration

 

 

San Diego, CA – February 3, 2021 – Presidio Property Trust, Inc. (NASDAQ: SQFT), an internally managed, diversified real estate investment trust, announced the signing of a major lease at its Garden Gateway office property in Colorado Springs, Colorado. The U.S. General Services Administration (or GSA) signed a lease for over 18,000 square feet to be utilized for veterans’ services.

 

“This 10-year lease with an option to lease for up to 25 years demonstrates the strong tenant demand Presidio is experiencing at a number of its office properties in secondary and tertiary markets. Colorado Springs is an example of a market that has come into its own as a very desirable location to live and work,” said Gary Katz, Senior Vice President of Asset Management.

 

“Colorado has been an important component of Presidio’s portfolio, and we have been active investors in this desirable market for several years,” added Jack Heilbron, President and Chief Executive Officer. The Company currently owns two office parks and two retail centers in Colorado Springs.

 

The GSA was established on July 1, 1949 when President Harry S. Truman signed the Federal Property and Administrative Services Act into law.

 

The GSA provides centralized procurement for the Federal Government, offering billions of dollars’ worth of products, services, and facilities that federal agencies need to serve the public. The GSA manages federal property and provides contracting options for government agencies. It employs approximately 11,600 employees and operates on an annual budget of approximately $16 billion.

 

About Presidio Property Trust

 

Presidio is an internally managed, diversified REIT. We have interests in approximately 120 model home properties in six states, with the majority located in Texas and Florida, which are leased back to homebuilders on a triple-net basis. Our commercial real estate portfolio consists of approximately 1.1 million square feet comprised of 14 properties: ten office properties, one industrial property and three retail properties. Our commercial portfolio is located in Southern California, Colorado, and North Dakota, and we are currently considering new commercial property acquisitions in a variety of additional markets across the United States. Our commercial property tenant base is diversified, which helps limit our exposure to any single industry in which our tenants operate. This geographical clustering of our real estate portfolio enables us to minimize operating costs and leverage efficiencies by managing a number of properties utilizing minimal overhead and staff. For more information on Presidio, please visit the Company's website at https://www.PresidioPT.com.

 

Cautionary Note Regarding Forward-Looking Statements

 

This press release may contain statements that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including Presidio's plans and strategies as described herein. Readers are cautioned that forward-looking statements (which can be identified by words such as "may," "will," "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters) are subject to numerous risks and conditions, many of which are beyond Presidio's control, including those set forth in the "Risk Factors" section of Presidio's registration statement and prospectus filed with the Securities and Exchange Commission (SEC). Copies are available on the SEC's website, www.sec.gov. The statements in this press release represent Presidio's views only as of the date they are made and should not be relied upon as representing Presidio's views as of any subsequent date. Presidio undertakes no obligation to update these statements for revisions or changes after the date of this press release, except as required by law.

 

Investor Relations Contacts:

 

Presidio Property Trust, Inc.
Lowell Hartkorn, Investor Relations
LHartkorn@presidiopt.com
Telephone: +1 (866) 781-7721 x244

 

 

TraDigital IR

 

Kevin McGrath

+1-646-418-7002

kevin@tradigitalir.com

 

 

MJ Clyburn

+1-917-327-6847

clyburn@tradigitalir.com