Hartman Properties Announces Oracle's Expansion in San Antonio

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