2 unchanged sentences
We invest in a diverse multi-tenant portfolio of real estate assets primarily consisting of office/industrial, retail, and model home properties located primarily in the western United States.
−Removed: As of December 31, 2021, we owned or had an equity interest in nine office/industrial buildings totaling approximately 757,578 rentable square feet and four retail centers totaling approximately 121,052 rentable square feet.
−Removed: In addition, through our Model Home subsidiary and our investments in six limited partnerships and one corporation, we own a total of 92 Model Home properties located in four states.
+Added: As of December 31, 2022, we owned or had an equity interest in nine office/industrial buildings totaling approximately 756,265 rentable square feet and three retail centers totaling approximately 65,242 rentable square feet.
+Added: In addition, through our Model Home subsidiary and our investments in five limited partnerships and one corporation, we own a total of 92 Model Home properties located in three states.
We directly manage the operations and leasing of our properties.
−Removed: Substantially all of our revenues consist of base rents received under leases that generally have terms that range from one to five years.
+Added: Substantially all of our revenues consist of base rents received under leases that generally have terms that range from one to five years. 
Th e majority of our ex isting leases as of December 31, 2022 contain contractual rent increases that provide for increases in the base rental payments.
10 unchanged sentences
Approximate % of Aggregate Annual Rent
+Added: In February 2023, the Annual Base Rent for Colorado dropped to approximately $4.9 million due to the loss of Halliburton Energy Services, Inc.
+Added: which was located in our Shea Center II property.
Model Home Properties:
25 unchanged sentences
Retail Properties:
−Removed: World Plaza, San Bernardino, CA (4)
Union Town Center, Colorado Springs, CO
6 unchanged sentences
Genesis Plaza is owned by two tenants-in-common, each of which own 57% and 43%, respectively, and we beneficially own an aggregate of 76.4%, based on our ownership percentages of each tenant-in-common.
−Removed: Property was listed as held for sale during the February 2022.
−Removed: Property held for sale as of December 31, 2021. 
+Added: Mandolin is owned by NetREIT Palm Self-Storage LP, through its wholly owned subsidiary NetREIT Highland LLC, and the Company is the sole general partner and owns 61.3% of NetREIT Palm Self-Storage LP.
+Added: Grand Pacific Center, Bismarck, ND, was removed from held for sale after signing a major lease with KLJ Engineering on December 7, 2022 for approximately 33,296 usable square feet, a term of 122 months, starting annualized rent of $532,736, and a commencement date estimated to be between November 1, 2023 and March 1, 2024.
+Added: The loss of Hallibur ton Energy Services, Inc.
+Added: from our Shea Center II property in Colorado, has dropped the occupancy to approximately 66% in February 2023.
Top Ten Tenants Physical Occupancy Table
7 unchanged sentences
Finastra USA Corporation
+Added: MasTec North America, Inc.
Wells Fargo Bank, N.A.
3 unchanged sentences
Fredrikson & Byron P.A.
−Removed: T his tenant occupies space in the World Plaza , which was classified as held for sale as of December 31, 2021.
−Removed: T his tenant occupies space in the Grand Pacific Center , which was classified as held for sale in February 2022.
+Added: On December 31, 2022, the lease for our largest tenant, Halliburton Energy Services, Inc., expired. 
+Added: Hallibur ton Energy Services, Inc.
+Added: was located in our Shea Center II property in Colorado, and made up approximately 8.57% of our annual base rent. 
+Added: We placed approximately $1.1 million in a reserve account with our lender to cover future mortgage payments, if necessary. 
+Added: Our management team is working to fill the 45,535 square foot space as quickly as possible, and has already leased approximately 20% of the space to a tenant during January 2023.
Lease Expirations Tables
6 unchanged sentences
Percent of Total
+Added: On December 31, 2022, three of our leases expired and were not renewed. 
+Added: One of them was Halliburton Energy Services, Inc., located in our Shea Center II property in Colorado, and made up approximately 8.57% of our annual base rent. 
+Added: We placed approximately $1.1 million in a reserve account with our lender to cover future mortgage payments, if necessary. 
+Added: Our management team is working to fill the 45,535 square foot space as quickly as possible, and has already leased approximately 20% of the space to a tenant during January 2023.
Model Home Properties:
24 unchanged sentences
Research Parkway
−Removed: Property held for sale as of December 31, 2021.
−Removed: Property was sold during the year ended December 31, 2021.
−Removed: Property was listed as held for sale in February 2022.
+Added: Property was sold during the year ended December 31, 2021.
A portion of the proceeds from the sale of Highland Court were used in like-kind exchange transactions pursued under Section 1031 of the Code for the acquisition of our Mandolin property.
Mandolin is owned by NetREIT Palm Self-Storage LP, through its wholly owned subsidiary NetREIT Highland LLC, and the Company is the sole general partner and owns 61.3% of NetREIT Palm Self-Storage LP.
+Added: Property was sold during the year ended December 31, 2022.
+Added: The loss of Hallibur ton Energy Services, Inc.
+Added: from our Shea Center II property in Colorado, has dropped the occupancy to approximately 66% in February 2023.
Annualized Base Rent Per Square Foot for Last 5 Years
22 unchanged sentences
Property was sold during the year ended December 31, 2021.
−Removed: Property was listed as held for sale in February 2022.
+Added: Property was sold during the year ended December 31, 2022.
A portion of the proceeds from the sale of Highland Court were used in like-kind exchange transactions pursued under Section 1031 of the Code for the acquisition of our Mandolin property.
Mandolin is owned by NetREIT Palm Self-Storage LP, through its wholly owned subsidiary NetREIT Highland LLC, and the Company is the sole general partner and owns 61.3% of NetREIT Palm Self-Storage LP.
−Removed: Property held for sale as of December 31, 2021.
+Added: The Annualized Base Rent for Shea Center II, includes Hallibur ton Energy Services, Inc.
+Added: which totals $944,851 for the year ended December 31, 2022.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.