Quarterly report pursuant to sections 13 or 15(d)

Commitments and Contingencies (Tables)

v2.4.0.6
Commitments and Contingencies (Tables)
9 Months Ended
Sep. 30, 2012
Future Minimum Lease Payments Due under Ground Lease

Future minimum lease payments due under the ground lease, including applicable automatic extension options, are as follows (unaudited):

 

     Twelve Months Ending
September 30,
 

2013

   $ 12,000   

2014

     12,000   

2015

     14,307   

2016

     17,382   

2017

     20,600   

Thereafter

     656,905   
  

 

 

 
   $ 733,194   
  

 

 

 
Components of Portfolio

The following represent the Company’s properties that are components of its portfolio and which each individually represents 10% or more of the related property’s total assets or gross revenues:

 

         (Unaudited)                     

Property/Tenant

 

Location

   Net
Rentable
Square
Feet
    

 

Square Footage Leased

    Annual
Lease
Payments
     Expiration
Date
    Option
Periods
Remaining
 
        Amount      Percentage         

Walnut Hill Plaza

  Petersburg, VA      89,907                

Tenant 1

          15,000         16.68   $ 73,800         2/28/2013        —     

Tenant 2

          14,812         16.47   $ 97,759         2/29/2016        2   

Tenant 3

          11,780         13.10   $ 106,020         3/31/2018        1   

Tenant 4

          9,875         10.98   $ 45,425         7/30/2013        —     

The Shoppes at Eagle Harbor

  Carrollton, VA      23,303                

Tenant 1

          7,012         30.09   $ 146,970         9/30/2015        4   

Tenant 2

          5,337         22.90   $ 112,077         10/31/2016        1   

Tenant 3

          4,084         17.53   $ 81,680         1/31/2014        2   

Tenant 4

          2,812         12.07   $ 61,864         7/31/2014        —     

Riversedge North

  Virginia Beach, VA      10,550                

Tenant 1

          10,550         100.00   $ 288,290         11/14/2017        4   

Monarch Bank Building

  Virginia Beach, VA      3,620                

Tenant 1

          3,620         100.00   $ 224,910         12/31/2012  (1)      2   

Amscot Building

  Tampa, FL      2,500                

Tenant 1

          2,500         100.00   $ 100,738         3/31/2020        3   

 

(1) The tenant has exercised one of its remaining five year options to extend the lease through December 31, 2017.
Subsidiaries [Member]
 
Components of Portfolio

of its combined total assets or 10% or more or its combined gross revenues. The following represent the PSF Entities’ properties that are components of its portfolio and which each individually represents 10% or more of the related property’s total assets or gross revenues:

 

          (Unaudited)                     
          Net
Rentable
Square
     Square Footage Leased     Annual
Lease
     Expiration
Date
    Option
Periods
Remaining
 

Property/Tenant

   Location    Feet      Amount      Percentage     Payments       

Shoppes at TJ Maxx

   Richmond, VA      93,552                

Tenant 1

           32,400         34.63   $ 294,192         4/30/2014  (1)      1   

Lumber River Plaza

   Lumberton, NC      66,781                

Tenant 1

           30,280         45.34   $ 155,250         6/30/2013  (2)      5   

Tenant 2

           9,100         13.63   $ 63,700         9/30/2015        1   

Tenant 3

           8,001         11.98   $ 44,520         12/31/2012        2   

Perimeter Square

   Tulsa, OK      58,277                

Tenant 1

           26,813         46.01   $ 339,162         6/30/2018        —     

Tenant 2

           10,754         18.45   $ 95,173         7/31/2015        —     

 

(1) Subsequent to September 30, 2012, the tenant exercised its remaining five year option to extend the lease through April 30, 2019 and we granted them an additional five year option.
(2) Subsequent to September 30, 2012, the tenant exercised one of its remaining five year options to extend the lease through June 30, 2018.