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Presidio Property Trust, Inc. (NASDAQ: SQFT) is an internally managed, diversified real estate investment trust headquartered in San Diego, California. The company holds a portfolio that includes model home properties leased to homebuilders, as well as office, industrial, and retail assets across several states.
Corporate Structure and Experience
As of 2025, Presidio Property Trust operates with 11–50 employees and is led by a management team with significant experience in the real estate sector.
- Jack K. Heilbron serves as Chief Executive Officer and Chairman of the Board. He has been with the company since its inception and has held executive roles at similar entities.
- Gary M. Katz, Chief Investment Officer since 2010, oversees acquisitions, leasing, and asset management across the portfolio.
- Steve Hightower is President of NetREIT Advisors, with over 26 years of experience in model home real estate.
- Ed Bentzen has served as Chief Financial Officer since September 2023, previously holding senior finance positions in both REITs and private equity firms.
Real estate by Sean Pollock
Developments and News
On December 26, 2025, SQFT closed at USD 4.10, marking a 26.15% increase for the day, with a trading volume of 2,139,636 shares on the NASDAQ. Key SEC filings completed in December 2025 include:
- December 15, 2025: Form S-11 registration statement filed for proposed securities offerings under the Securities Act of 1933.
- December 17, 2025: Notice of Effectiveness for the registration statement, allowing the company to proceed with the offering.
- December 18, 2025: Prospectus on Form 424B3 filed, detailing an offering of 1,445,007 shares of Series A common stock and noting a 1-for-10 reverse stock split effective May 19, 2025.
Financial and Strategic Analysis
The December 18 prospectus outlines a registered offering of 1,445,007 Series A common shares at prevailing market prices. The document also highlights the terms of Series A warrant exercises: an exercise price of USD 70.00 with an expiration date of January 24, 2027. The 1-for-10 reverse split implemented on May 19, 2025, adjusted share counts to align trading levels with compliance requirements.
As a REIT, Presidio Property Trust benefits from triple-net lease structures on its model home properties located in Arizona, Illinois, Texas, Wisconsin, and Florida, which can provide predictable cash flows. Its office, industrial, and retail holdings are concentrated primarily in Colorado, with additional assets in Maryland, North Dakota, Texas, and Southern California. The company aims to focus on markets with moderate demand, avoiding regions with overheated pricing and leveraging local expertise to enhance value.
Market Position and Industry Context
Trading under the ticker SQFT, Presidio Property Trust is classified as a small-cap REIT with a market capitalization under USD 300 million. The company competes in a diversified segment of the real estate sector alongside other non-traded and small-cap REITs. Its strategy to concentrate on less competitive markets distinguishes it from peers targeting high-growth urban centers. The portfolio’s geographic distribution across five states for model homes and additional locations for commercial assets offers a level of diversification that may mitigate risks associated with local economic cycles.
tl;dr
Presidio Property Trust’s share price increased by 26.15% on December 26, 2025, amid a registered offering of 1,445,007 Series A common shares and the completion of SEC filings on December 15–18, 2025. The company executed a 1-for-10 reverse split in May 2025 and holds warrants exercisable at USD 70 through January 24, 2027. Future strategies focus on deploying capital into markets characterized by moderate demand through its triple-net lease model.
