October Letter from Al Hartman

By | Blog, CEO letter

Dear Hartman Team Members,

I am proud of the work and dedication you have all put into making our vision mapping sessions a true success this year! This process is vital to the success of our company and it pushes each of us to contemplate our plans for the year ahead. I encourage each of you to discuss your vision mapping with your managers, review in your department meetings, and hold each other accountable to the goals that your department has set. While thinking about and praying for direction on your vision, do keep in mind that the company’s overall vision is to grow to $2bn in assets by 2025.

Each department’s boulders and the accompanying compelling story have me tremendously excited for what is to come in 2022. Leasing is thriving, and to see the goal of increasing occupancy by another 5% is another big audacious goal for next year. A second that is vital to our growth is the property management and leasing teams pushing our tenant retention from a historical 35% to 50% next year. Our CMG team is ramping up for a great 2022 with worthy goals in product sales so we can invest more into our current assets, acquire more, and in return, create value for our investors. As we accomplish these goals as a team, we will develop a Level 5 company next year! A Level 5 company is a company that has become enlightened, one where employees work together better without intervention from superiors, where employees give not just their time and expertise but their very heart and soul. In a Level 5 company it’s about the music, not the musician.

For your personal vision mapping, the company provides resources to help you towards your vision. I am excited that we discussed these resources, so you know we can help by offering programs, classes, or training. A few of the programs that I recommend everyone utilize are the 401k plan, C-12, weekly bible studies, and personal development plans. To find out more about any of these programs, reach out to Valerie DeBiaso or Sara Laird.

We are hitting numbers in leasing that we have never surpassed before. In September, our occupancy rose to 82.06%, moving closer to our goal of 85% by year-end. In the third quarter, we hit a new record of positive net absorption of over 175,000 square feet! Congratulations to Bryan Collins for his outstanding performance in increasing his portfolio’s occupancy by 5.70% this month!

Overall, for September, our FFO Yield is 9.6% versus the 8.4% budgeted.

I can’t wait for you to read the book given at the meeting, The Miracle Moment by Nicole Unice. It puts in perspective the moments to choose to break negative cycles or to continue them. It helps you understand the moment when you can move toward someone or step away from them. Once you can recognize and respond to those moments, it gives you the power to help transform the relationships you have into ones that you truly want.

In closing, I want to share how excited I am for the upcoming year and how the vision mapping each of you did today will push us that much closer to our goals. We are moving into the height of budget season through the coming month, and I am confident we will keep the momentum that we have created through 2022. I am excited to see the results of all your vision mapping as we incorporate your vision into the budget and use it as a workshop for executing on the plan for next year.

 

‘Teach me your way, O Lord, That I may walk in your truth; unite my heart to fear your name.’

– Psalm 86:11

 

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, Inc. Learn more about Al Hartman and follow Al Hartman on Twitter and LinkedIn.