News

Innovative Repurposing Strategy Reinforces Commitment to Enhancing Property Value and Sustainability

(HOUSTON, Texas) – Hartman Properties, a leader in commercial real estate, proudly announces a successful first quarter in 2024, marked by significant leasing and renewal achievements, exceptional regional performance, and a notable tenant highlight. With seven new leases across six properties, totaling 23,608 square feet, three lease renewals encompassing 33,975 square feet at three properties, and a significant renewal for Strategy Engineering, Hartman continues to strengthen its portfolio and reinforce its reputation and legacy as a leader in Texas commercial real estate. Dynamic Leasing and Renewal AchievementsThe first quarter of 2024 was highlighted by vigorous leasing activity, strategic renewals, and a significant lease renewal for Strategy Engineering at 1400 Broadfield, Houston, Texas, which covers 25,786 square feet. The landlord agent, Ami Figg, and tenant broker, Margaret Ann Cook from Fritsche Anderson, played key roles in facilitating this transaction. These accomplishments reflect a diverse range of industries and contribute to the vibrant business ecosystems within their properties. Regional Performance HighlightsDespite a challenging market with high vacancy rates across Texas, Hartman Properties demonstrated resilience and strategic acumen. In the Houston area, Hartman reported a vacancy rate of just 13.23%, significantly outperforming the area’s overall vacancy rate of 26.7%. In Dallas, Hartman’s properties shined with a vacancy rate of only 2.53%, compared to the area’s rate of 22%. However, in San Antonio, Hartman’s properties experienced a higher vacancy rate of 28.56%, though it still managed positive net absorption. Overall, Hartman Properties reported a vacancy rate of 14.54% with a positive absorption rate of 5,270. Commitment to Excellence“Hartman Properties is committed to maintaining high standards of excellence and operational efficiency,” said Al Hartman, Founder and CEO of Hartman Properties. “Our Q1 results reflect our team’s dedication and hard work, which have led to continuous growth and success. We are excited about the opportunities these new leases, renewals, and strong regional performance present and are optimistic about the future.” Looking ForwardAs we move further into 2024, Hartman Properties remains focused on expanding its reach and enhancing tenant satisfaction. With a solid foundation and a clear strategic direction, Hartman is well-positioned for continued success and innovation in the commercial real estate market.For more information about Hartman Properties visit www.hartman-properties.com or click here. To request more information or schedule an interview, contact Melissa Rein Lively with America First PR. About Hartman Properties: Hartman Properties is a leading commercial real estate management company within Texas, specializing in owning and managing high-quality commercial properties. With a commitment to excellence and customer satisfaction, Hartman Properties offers premier office space in prime locations across Texas. For more information about Hartman Properties, visit www.hartman-properties.com We deliver exceptional investor returns through an empowered team that provides unparalleled service to tenants in an environment of belonging and purpose.

New Executive Suites Offer Flexible, Affordable Solutions for Small Business Owners at 16300 Katy Freeway, Houston, TX

Houston-based REIT reports 2% growth in Q1 as office market begins to stabilize

Cloud computing giant grows Texas footprint to include 34,000 square foot office space in Spectrum Building bringing Hartman Properties portfolio to 87% occupied   HOUSTON, Texas (April 30, 2024)  — Oracle, a global leader in cloud applications and platform services, has solidified its commitment to the vibrant business landscape of San Antonio with the signing of a significant lease expansion at the Spectrum building. The move signifies Oracle’s strategic expansion plans in the region, aimed at accommodating its growing workforce and enhancing its operational capabilities. The completion of this lease brings the Hartman Properties porfolio to 87% occupied, with a goal of reaching 90% occupied by the end of 2024.The company’s flagship office in San Antonio, located at 613 NWLoop 410, Texas 78216, will now encompass over 34,000 square feet of prime office space spanning two floors within the prestigious Spectrum building. This expansion underscores Oracle’s continued investment in San Antonio and its confidence in the city’s talent pool and business-friendly environment. “We are thrilled that a prestigious company like Oracle has decided to expand their corporate footprint in the Spectrum building,” stated Ami Figg, Vice President of Leasing at Hartman Properties. “This decision signals a promising shift towards the re-occupancy of office space for key markets like San Antonio in 2024. It reaffirms the attractiveness of our properties and the need for high-quality and affordable office space as more companies plan a permanent return to the office,” she said. Oracle’s decision to expand its footprint in San Antonio comes at a time of sustained growth for the company, driven by increasing demand for its innovative cloud solutions and services. The expanded office space will provide Oracle with the infrastructure needed to support its expanding workforce and facilitate collaboration and innovation among its employees. The Spectrum building, situated in a prime location within San Antonio’s bustling business district, offers state-of-the-art facilities and amenities, making it an ideal choice for Oracle’s continued expansion efforts. Al Hartman, Founder of Hartman Properties, emphasized the significance of Oracle’s expansion for San Antonio. “This deal signifies a big win for San Antonio’s commercial property market,” Hartman said.”As the market continues to be highly-attractive for corporate expansion and relocation, bringing high-paying jobs to the area, Oracle’s decision to expand underscores the city’s appeal as a prime business destination. We are thrilled to facilitate Oracle’s growth in San Antonio and remain committed to supporting the city’s economic development,” he said. Hartman VREIT XXI, a subsidiary of Hartman Properties, owns the Spectrum building, and REIT Property Management, LLC, also a subsidiary of Hartman Properties, manages the building. With a proven track record of providing exceptional property management services, Hartman VREIT XXI REIT Property Management specializes in managing all types of commercial properties, including office buildings, retail centers, industrial parks, and more. The company’s comprehensive services range from leasing and tenant management to maintenance and property improvement projects “For Hartman VREIT XXI, facilitating Oracle’s expansion at the Spectrum building is a testament to our commitment to excellence in commercial real estate management,” said Margaret Hartman, COO at Hartman VREIT XXI. “We are dedicated to delivering exceptional value to our tenants and supporting their growth and success. Oracle’s decision to expand at the Spectrum building further solidifies its position as a premier destination for businesses in San Antonio.” With this lease signing, Oracle reaffirms its commitment to the San Antonio area as a strategic hub for its operations, further cementing its position as a key player in the city’s thriving technology ecosystem. “Working with exceptional tenants such as Oracle to achieve an 87% occupancy rate across our entire portfolio is an accomplishment Hartman Properties is exceptionally proud of, Margaret Hartman said. “Despite challenging market conditions, this achievement underscores our  unwavering commitment to our tenants, investors, and the San Antonio business community,” she said. For more information about Hartman Properties and its portfolio of premier commercial properties, visit www.hartman-properties.com.   About Hartman Properties: Hartman Properties is a leading commercial real estate management company within Texas, specializing in owning and managing high-quality commercial properties. With a commitment to excellence and customer satisfaction, Hartman Properties offers premier office space in prime locations across Texas. For more information about Hartman Properties, visit www.hartman-properties.com