Exhibit 99.1

Presidio Property Trust, Inc. Announces Earnings for

the First Two Quarters Ended June 30, 2022

San Diego, California, August 11, 2022 – Presidio Property Trust, Inc. (Nasdaq: SQFT, SQFTP) (the “Company”), an internally managed, diversified real estate investment trust (“REIT”), today reported earnings for its first two quarters ended June 30, 2022. All first and second quarter financial measures referenced herein are unaudited.

“We are pleased to report our second quarter earnings, continuing the strong performance that we saw in the beginning of 2022,” said Jack Heilbron, the Company’s President and Chief Executive Officer. “In the second quarter of 2022, we collected 98% of rental billings, including a 100% collections rate in our model home segment.”

“16 office, retail, and industrial leases were signed in the second quarter of 2022, with 7 new tenants and 9 existing tenant renewals,” noted Gary Katz, the Company’s Chief Investment Officer. “For the year to date, we have signed 32 leases for 118,360 square feet of space, split approximately between 40% new leases and 60% renewals.”

First Quarter Ended June 30, 2022, Financial Results

Net loss attributable to the Company’s common stockholders for the three months ended June 30, 2022, was approximately $(830,000), or $(0.07) per basic and diluted share, compared to a net income of approximately $754,000, or $0.08 per basic and diluted share for the three months ended June 30, 2021. The change in net income attributable to the Company’s common stockholders was a result of:

● Operating income less; operating expense, G&A and depreciation & amortization, decreased by $205,000 or 31.7% in the second quarter 2022 as compared to the second quarter in 2021, mainly due to the additional G&A expenses for Murphy Canyon Acquisition Corp.

● A 10% decrease in interest expense for the second quarter of 2022, after the sale of commercial properties in 2021 and payoff of their related mortgages.

● Gain on sale of real estate of 7 model homes sold in the second quarter of 2022 for approximately $1.2 million, compared to a gain on sale during the second quarter of 2021 totalling approximately $2.6 million for 12 model homes and two commercial properties.

● Preferred stock Series D dividends totalled approximately $0.5 million in Q2 2022, compared to approximately $96,000 in Q2 2021.

FFO (non-GAAP) for the three months ended June 30, 2022, decreased by approximately $0.5 million to approximately $(46,000) from $456,000 to the three months ended June 30, 2021, due primarily to the G&A expenses recorded for Murphy Canyon Acquisition Corp. A reconciliation of FFO to net income, the most directly comparable GAAP financial measure, is attached to this press release. However, because FFO excludes depreciation and amortization as well as the changes in the value of the Company’s properties that result from use or market conditions, each of which have real economic effects and could materially impact the Company’s results from operations, the utility of FFO as a measure of the Company’s performance is limited.

Acquisitions and Dispositions for the first two quarters of 2022

● World Plaza was sold on March 11, 2022, for approximately $10.0 million and the Company recognized a loss of approximately $0.3 million.

● The Company acquired 8 model homes for approximately $4.6 million. The purchase price was paid through cash payments of approximately $1.4 million and mortgage notes of approximately $3.2 million.

● The Company disposed of 18 model homes for approximately $10.0 million and recognized a gain of approximately $3.0 million.

Dispositions during the first two quarters of 2021:

● Waterman Plaza was sold on January 28, 2021, for approximately $3.5 million and the Company recognized a loss of approximately $0.2 million.

● Garden Gateway was sold on February 19, 2021, for approximately $11.2 million and the Company recognized a loss of approximately $1.4 million.

● Highland Court was sold on May 20, 2021, for approximately $10.23 million and the Company recognized a loss of approximately $1.6 million.

● Executive Office Park was sold on May 21, 2021, 2021, for approximately $8.1 million and the Company recognized a gain of approximately $2.5 million.

● The Company disposed of 32 model homes for approximately $15.1 million and recognized a gain of approximately $2.3 million.

Dividends paid during the first two quarters of 2022:

● During the first quarter of 2022, the Company paid a dividend of $0.105 per share to shareholders of Series A common stock.

● During the second quarter of 2022, the Company paid a dividend of $0.106 per share to shareholders of Series A common stock.

● During the first six months of 2022, the Company paid six monthly dividends in the total amount of $1.172 per share to shareholders of Series D preferred stock.

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. (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

Definitions

Non-GAAP Financial Measures

Funds from Operations (“FFO”) – The Company evaluates performance based on Funds From Operations, which we refer to as FFO, as management believes that FFO represents the most accurate measure of activity and is the basis for distributions paid to equity holders. The Company defines FFO as net income or loss (computed in accordance with GAAP), excluding gains (or losses) from sales of property, hedge ineffectiveness, acquisition costs of newly acquired properties that are not capitalized and lease acquisition costs that are not capitalized plus depreciation and amortization, including amortization of acquired above and below market lease intangibles and impairment charges on properties or investments in non-consolidated REITs, and after adjustments to exclude equity in income or losses from, and, to include the proportionate share of FFO from, non-consolidated REITs.

However, because FFO excludes depreciation and amortization as well as the changes in the value of the Company’s properties that result from use or market conditions, each of which have real economic effects and could materially impact the Company’s results from operations, the utility of FFO as a measure of the Company’s performance is limited. In addition, other REITs may not calculate FFO in accordance with the NAREIT definition as the Company does, and, accordingly, the Company’s FFO may not be comparable to other REITs’ FFO. Accordingly, FFO should be considered only as a supplement to net income as a measure of the Company’s performance.

Core Funds from Operations (“Core FFO”) – We calculate Core FFO by using FFO as defined by NAREIT and adjusting for certain other non-core items. We also exclude from our Core FFO calculation acquisition costs, loss on early extinguishment of debt, changes in the fair value of the earn-out, changes in fair value of contingent consideration, non-cash warrant dividends and the amortization of stock-based compensation.

We believe Core FFO provides a useful metric in comparing operations between reporting periods and in assessing the sustainability of our ongoing operating performance. Other equity REITs may calculate Core FFO differently or not at all, and, accordingly, the Company’s Core FFO may not be comparable to such other REITs’ Core FFO.

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

Presidio Property Trust, Inc. and Subsidiaries

Condensed Consolidated Balance Sheets

	June 30,			December 31,
	2022			2021
	(Unaudited)
ASSETS
Real estate assets and lease intangibles:
Land	$	17,836,329		$	21,136,379
Buildings and improvements		115,053,575			119,224,375
Tenant improvements		12,184,676			12,752,518
Lease intangibles		4,110,139			4,110,139
Real estate assets and lease intangibles held for investment, cost		149,184,719			157,223,411
Accumulated depreciation and amortization		(30,368,624	)		(30,589,969
Real estate assets and lease intangibles held for investment, net		118,816,095			126,633,442
Real estate assets held for sale, net		6,679,654			11,431,494
Real estate assets, net		125,495,749			138,064,936
Cash, cash equivalents and restricted cash		21,066,945			14,702,089
Deferred leasing costs, net		1,137,233			1,348,234
Goodwill		2,423,000			2,423,000
Other assets, net		3,876,429			4,658,504
Investments held in Trust (see Notes 2 & 9)		135,096,767			—
TOTAL ASSETS	$	289,096,123		$	161,196,763
LIABILITIES AND EQUITY
Liabilities:
Mortgage notes payable, net	$	89,432,732		$	87,324,319
Mortgage notes payable related to properties held for sale, net		4,500,502			1,535,513
Mortgage notes payable, total net		93,933,234			88,859,832
Accounts payable and accrued liabilities		3,895,445			4,569,537
Accounts payable and accrued liabilities of SPAC (see Notes 2 & 9)		4,774,808			15,499
Accrued real estate taxes		953,277			1,940,913
Dividends payable preferred stock		179,685			179,685
Lease liability, net		61,518			75,547
Below-market leases, net		45,685			73,130
Total liabilities		103,843,652			95,714,143
Commitments and contingencies (Note 2 & 9)
SPAC Class A common stock subject to possible redemption; 13,225,000 shares (at $10.20 per share), net of issuance cost of approximately $6,400,000		128,636,719			—
Equity:
Series D Preferred Stock, par value per share; 1,000,000 shares authorized; 920,000 shares issued and outstanding (liquidation preference $25.00 per share) as of June 30, 2022 and December 31, 2021, respectively		9,200			9,200
Series A Common Stock, $0.01 par value per share, shares authorized: 100,000,000; 11,793,757 shares and 11,599,720 shares were issued and outstanding at June 30, 2022 and December 31, 2021, respectively		117,938			115,997
Additional paid-in capital		183,126,885			186,492,012
Dividends and accumulated losses		(135,754,642	)		(130,947,434
Total stockholders’ equity before noncontrolling interest		47,499,381			55,669,775
Noncontrolling interest		9,116,371			9,812,845
Total equity		56,615,752			65,482,620
TOTAL LIABILITIES AND EQUITY	$	289,096,123		$	161,196,763

Presidio Property Trust, Inc. and Subsidiaries

Condensed Consolidated Statements of Operations

(Unaudited)

	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2022			2021			2022			2021
Revenues:
Rental income	$	4,188,076		$	4,553,798		$	8,640,394		$	10,031,021
Fees and other income		132,784			292,785			253,607			484,316
Total revenue		4,320,860			4,846,583			8,894,001			10,515,337
Costs and expenses:
Rental operating costs		1,348,083			1,485,815			2,931,556			3,324,738
General and administrative		1,214,005			1,344,770			2,797,696			2,882,036
Depreciation and amortization		1,316,193			1,368,209			2,655,418			2,797,143
Impairment of real estate assets		—			—			—			300,000
Total costs and expenses		3,878,281			4,198,794			8,384,670			9,303,917
Other income (expense):
Interest expense-mortgage notes		(1,085,860	)		(1,207,036	)		(2,103,573	)		(2,512,057	)
Interest expense - note payable		—			—			—			(279,373	)
Interest and other (expense), net		93,128			(20,657	)		166,733			(53,443	)
Gain on sales of real estate, net		1,227,484			2,594,341			2,750,269			1,433,014
Gain on extinguishment of government debt		—			—			—			10,000
Income tax expense		(259,285	)		(238,701	)		(524,524	)		(288,899	)
Total other income (expense), net		(24,533	)		1,127,947			288,905			(1,690,758	)
Net income (loss)		418,046			1,775,736			798,236			(479,338	)
Less: Income attributable to noncontrolling interests		(709,202	)		(925,697	)		(1,917,878	)		(1,332,305	)
Net income (loss) attributable to Presidio Property Trust, Inc. stockholders	$	(291,156	)	$	850,039		$	(1,119,642	)	$	(1,811,643	)
Less: Preferred Stock Series D dividends		(539,056	)		(95,836	)		(1,078,111	)		(95,836	)
Less: Series A Warrant dividend		—			—			(2,456,512	)		—
Net income (loss) attributable to Presidio Property Trust, Inc. common stockholders	$	(830,212	)	$	754,203		$	(4,654,265	)	$	(1,907,479	)
Net income (loss) per share attributable to Presidio Property Trust, Inc. common stockholders:
Basic & Diluted	$	(0.07	)	$	0.08		$	(0.39	)	$	(0.20	)
Weighted average number of common shares outstanding - basic & diluted		11,799,689			9,508,363			11,786,741			9,508,363

Presidio Property Trust, Inc. and Subsidiaries

Reconciliation of Net Income to FFO and Core FFO

(Unaudited)

	For the Three Months Ended						For the Six Months Ended
	06/30/22			06/30/21			06/30/22			06/30/21
Net (loss) income attributable to Presidio Property Trust, Inc. common stockholders	$	(830,212	)	$	754,203		$	(4,654,265	)	$	(1,907,479	)
Adjustments:
Income attributable to noncontrolling interests		709,202			925,697			1,917,878			1,332,305
Depreciation and amortization		1,316,193			1,368,209			2,655,418			2,797,143
Amortization of above and below market leases, net		(13,723	)		2,615			(27,445	)		1,605
Impairment of real estate assets		—			—			—			300,000
Loss (gain) on sale of real estate assets, net		(1,227,484	)		(2,594,341	)		(2,750,269	)		(1,433,014	)
FFO	$	(46,024	)	$	456,383		$	(2,858,683	)	$	1,090,560
Restricted stock compensation		287,720			280,652			568,700			582,199
Series A Warrant dividend (non-cash)		—			—			2,456,512			—
Core FFO	$	241,696		$	737,035		$	166,529		$	1,672,759
Weighted average number of common shares outstanding - basic and diluted		11,799,689			9,508,363			11,786,741			9,508,363
Core FFO / Wgt Avg Share	$	0.02		$	0.08		$	0.01		$	0.18