Presidio Property Trust Achieves WiredScore Silver Certification at Shea Center II

Rhea-AI Summary

Presidio Property Trust announced that its Shea Center II office building in Highlands Ranch, Colorado, has achieved WiredScore Silver certification. This achievement highlights the property’s commitment to superior digital connectivity, making it one of only six certified properties in Colorado. The 121,000 square foot Class 'A' office building features advanced technology infrastructure and flexible capabilities for future upgrades. The certification aligns with the company's strategy to enhance tenant experience and adapt to new technologies.

Positive

• Achieved WiredScore Silver certification, enhancing property value.
• Shea Center II is one of six certified properties in Colorado, indicating high standards in digital connectivity.
• Modern technology infrastructure supports tenant needs and business continuity.

Negative

• None.

SAN DIEGO, CA / ACCESSWIRE / August 26, 2022 / (NASDAQ:SQFT)(NASDAQ:SQFTP) Presidio Property Trust, Inc. ("Presidio" or the "Company"), an internally managed, diversified real estate investment trust ("REIT"), today announced that its Shea Center II office building located in Highlands Ranch, Colorado, has achieved WiredScore Silver certification, an internationally-recognized rating promoting digital connectivity. Shea Center II is one of only six properties in Colorado to earn this distinction.

Jack Heilbron, CEO of Presidio, said, "We are proud to achieve WiredScore Silver at Shea Center II. This furthers our goal to be a forward-looking landlord and provide a superior experience for modern-day businesses". Added Gary Katz, Chief Investment Officer, "By providing such technology infrastructure as multiple fiber and communications providers, capacity for future upgrades, and streamlined access, the property has the flexibility and capacity to adapt to new technologies and protect business continuity".

Shea Center II is a 121,000 square foot, Class "A" office building located in the Highlands Ranch submarket of Denver, across the street from the Central Park retail center and within close proximity to C-470, UC Health Highlands Ranch Hospital, and Children's Hospital South Campus.

Building features include common conference facilities, showers & lockers, and being the only multi-tenant office building in Highlands Ranch with covered parking.

Leasing is handled by Mitch Bradley of CBRE. The property is managed on-site by Presidio Property Trust.

About Presidio Property Trust

Presidio is an internally managed, diversified REIT with holdings in model home properties which are triple-net leased to homebuilders, office, industrial, and retail properties. Presidio's model homes are leased to homebuilders located primarily in Texas and Florida. Our office, industrial and retail properties are located primarily in Colorado, with properties also located in Maryland, North Dakota, Texas, and Southern California. While geographical clustering of real estate enables us to reduce our operating costs through economies of scale by servicing a number of properties with less staff, it makes us susceptible to changing market conditions in these discrete geographic areas, including those that have developed as a result of COVID-19. Presidio is also the sponsor of the Special Purpose Acquisition Company (SPAC) Murphy Canyon Acquisition Corp. (NASDAQ: MURFU), which currently holds approximately $140 million in trust. Murphy Canyon Acquisition Corp. is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The SPAC intends to focus on companies in the real estate industry, including construction, homebuilding, real estate owners and operators, arrangers of financing, insurance, and other services for real estate, and adjacent businesses and technologies targeting the real estate space with an aggregate combined enterprise value of approximately $300 million to $1.2 billion. 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 contains statements that are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and other federal securities laws. Forward-looking statements are statements that are not historical, including statements regarding management's intentions, beliefs, expectations, representations, plans or predictions of the future, and are typically identified by such words as "believe," "expect," "anticipate," "intend," "estimate," "may," "will," "should" and "could." Because such statements include risks, uncertainties and contingencies, actual results may differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon the Company's present expectations, but these statements are not guaranteed to occur. Except as required by law, the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes. Investors should not place undue reliance upon forward-looking statements. For further discussion of the factors that could affect outcomes, please refer to the "Risk Factors" section of the Company's documents filed with the SEC, copies of which are available on the SEC's website, www.sec.gov.

Investor Relations Contact:

Presidio Property Trust, Inc.
Lowell Hartkorn, Investor Relations
LHartkorn@presidiopt.com
Telephone: (760) 471-8536 x1244

SOURCE: Presidio Property Trust, Inc.

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FAQ

What is the significance of WiredScore Silver certification for SQFT and SQFTP?

The WiredScore Silver certification indicates that the Shea Center II building has superior digital connectivity, which enhances its appeal to tenants and may positively impact its market value.

How large is the Shea Center II office building operated by SQFT?

Shea Center II spans 121,000 square feet and is classified as a Class 'A' office building.

Where is Shea Center II located?

Shea Center II is located in Highlands Ranch, Colorado, near the Central Park retail center.

Who handles leasing for the Shea Center II property?

Leasing for Shea Center II is managed by Mitch Bradley of CBRE.

What types of properties does Presidio Property Trust manage?

Presidio Property Trust manages a diversified portfolio including model homes, office, industrial, and retail properties, primarily in Colorado, Texas, and Florida.