July Letter from Al Hartman

By | Blog, CEO letter

Dear Hartman Team Members,

Each quarter we join as a team to break through barriers. Our vision guides us, “We deliver exceptional investor returns through an empowered team that provides unparalleled service to tenants in an environment of belonging and purpose.” When we come together, concepts and ideas become actionable items that better our company. I want to empower each of you to engage, think creatively, and remember there is “no box” when brainstorming for ideas and solutions. I encourage each of you to join a DART triad and own your thoughts. Every team member has a unique perspective that can make an impactful difference to our business.

Overall, for June, our FFO Yield is 10.9% versus the 8.8% budgeted year-to-date.

June’s new leasing activity (for all markets) totaled 91,811 square feet from a total of 104 signed leases. Our current occupancy is 80.39%, up 1.36% from where we started at the beginning of the year. The chase to 85% is still very much on! Congratulations to our leasing agent, Ami Figg, for increasing her portfolio’s occupancy by 6.71% this month! As we are now halfway through 2021, I am pleased to share and congratulate you that our occupancy numbers are trending very favorably and say that we cannot let off the gas now, and lots of hard work is still ahead of us.

I am delighted to announce that The Capital Markets Group officially closed Hartman Retail III, DST, to new investments. The team is working diligently to open a new DST fund. There is much confidence that the CMG team capital can be raised this year from our existing channels and those we are stepping into for the first time, such as Institutional and Family Offices. I am enthused by the traction we are seeing from our capital markets team!

I want to congratulate our property management team on the highest NPS survey scores in company history of 60.2%. Clearlyrated.com has rated us in the top 1% of all commercial real estate companies participating in the NPS survey. We had multiple buildings that received perfect scores, including Richardson Tech Center, Fondren Plaza, Haute Harwin, One Mason, Timbercreek, 1400 Broadfield, and Willowbrook. I have read excellent testimonials from our tenants. Their stories of exemplary service are great examples of how our core value, “we care about the customer,” is brought to life as the company’s culture.

On Friday, as we brainstorm rocks for the quarter, I can see inspiration and motivation bubbling up from all our teams. Each executive and senior manager should prepare to focus one another on a brainstorm that challenges us all to be the very best that we can be. As I look back on years gone by, I admit that I always enjoy the imagination and creative problem-solving of our teams. You should all be thrilled by the creativity and problem solving that is unearthed through the powers of brainstorming. You will experience the “group dynamic” effect where the Holy Spirit works among you, where iron sharpens iron, and you end up with a much better result, working as a team than anyone could do individually.

In closing, 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 noon. The men’s group commences a new study series on the book ‘Mighty Men Stay on Track’ written by Dr. Rick Scarborough, a tenant of ours; please join us. The women’s group is studying the book ‘Breathing Room’ written by Sandra Stanley.

I also want to remind you to immerse yourself in the Word each day. Meditate and pray about your purpose, path, and what God wants for your life. “Love the Lord your God with all your heart, and with all your soul, and with all your mind, and with all your strength!” – Mark 12:30

God Bless you all!

Sincerely,
Al Hartman

About the author:
Al Hartman is the President, CEO, and Chairman of the Board of Directors at Hartman Advisors and the CEO of Hartman Income REIT Management. Learn more about Al Hartman and follow Al Hartman on Twitter and LinkedIn.