Dear Hartman Team Members,
For April, we earned 11.5% versus the 6.8% budgeted FFO Yield. The Leasing Department finished April at 79.74%, putting us over the Q2 budget. Let us congratulate Wil Logan for his performance as the top producer increasing his portfolio’s occupancy by 2.26% in April by leasing 17,794 square feet.
I want to welcome our new General Counsel and Corporate Secretary to the team, Michael Racusin. Michael has over 15 years of corporate legal experience and brings an extensive skill set that is exactly what we need to reach our goal of $2 billion in assets by 2025 and $5 billion by 2030.
The marketing, construction, IT, and property management teams led by Kimberly Strickland have done immense work on creating the new brand for our executive suite concepts. BIZSUITES was unveiled as the new brand and includes fresh advertising, campaigns, and pricing packages. Property management and construction have been busy redesigning, upgrading, and adding amenities to the suites. We now have nine properties with BIZSUITES across all three markets, with several more proposed by the end of the year. Our former COO, Ross Donahue, has partnered with our new Moving Coordinator Shelli Pierce to continue our momentum on this project. Thank you for the dedication to this project. I see tremendous upside for us on leasing up our BIZSUITES.
Dave Wheeler, Richard Maloof, and I sat down with BISNOW this month to discuss the state of the Texas office market and the trends we are seeing. This is a part of the “Hartman Advantage” and is a focal point in selling our products to investors. I would encourage you all to read the interview. Continuing the theme of thought leadership content, Dave Wheeler, Gian Craparo, and I filmed a series of video interviews that share our insights, trends, and why our company and the investment opportunity are unique and favorable for investors. Please follow and share the company’s updates on your favorite social media platform.
In the book, It’s the Manager, Gallup states, “Culture begins with your purpose – why you are in business. It lives or dies day to day through your managers.” Culture has a direct impact on performance, and Culture is unique and personal to our organization. We need to share our uniqueness and personality to recruit world-class talent. That is our secret sauce! This is what inspires us to work hard for our tenants, investors, and each other. Another key takeaway is to require every employee to discover their strengths. We want to improve our development and communication and follow our core value that growth and development are the highest leadership calling. We want to stay a strength-based organization with strong leadership that has been cultivated over time through development.
In close, I want to encourage you all to become involved in our weekly bible studies. The men’s bible study is on Thursday mornings at 7:15 am, and the women’s bible study is on Thursday at 12:00 pm. I also want to encourage you to immerse yourself into the Word each day and take time to meditate and pray about your purpose, your path, and what God wants for your life.
“Blessed is the one who does not walk in step with the wicked or stand in the way that sinners take or sit in the company of mockers, but whose delight is in the law of the LORD, and who meditates on his law day and night. That person is like a tree planted by streams of water, which yields its fruit in season and whose leaf does not wither- whatever they do prospers.” Psalm 1:1-3
God Bless you all!
Allen R. Hartman (Al Hartman) is the President, CEO, and Chairman of the Board of Directors at Hartman Advisors and the CEO of Hartman Income REIT Management. Hartman was established in 1983. As of 2019, the firm employed more than 200 employees and managed more than 60 properties, comprising over eight million square feet, in Texas.