Hartman Properties, a leading name in the commercial real estate industry, proudly announces its end-of-year achievements for 2024. The company’s exceptional performance, driven by strategic leasing initiatives and key property transformations, underscores its continued commitment to excellence and innovation in the market.
Oracle expanded its footprint to over 34,000 sq. ft. at the Spectrum Building in San Antonio, a major 2024 dead for Hartman Properties
(HOUSTON, Texas) – Hartman Properties is proud to announce the landmark growth and success of its BIZSUITES by Hartman concept, now over 90% leased at its Ashford on the Bayou location. Designed to provide small business owners with affordable, professional office spaces, BIZSUITES by Hartman has quickly become a sought-after solution for entrepreneurs seeking flexible, fully furnished executive suites.
“We are thrilled with this year’s success,” said Al Hartman, Founder and CEO of Hartman Properties. “Early indicators suggest a resurgence in the oil and gas industry and other key Texas industries, which will bring major corporate expansions and relocations back to Houston. We also anticipate the end of ‘Work from Home,’ which has tapered down significantly. This shift signals office market stabilization as companies return the majority of their workforce to in-office work. These trends make us incredibly optimistic for continued growth and market stabilization this year.”
The company’s exceptional performance, driven by strategic leasing initiatives and key property transformations, underscores its continued commitment to excellence and innovation in the market.
Leasing Milestones: Hartman Properties has had a remarkable year, securing significant leasing successes across its portfolio. Highlights include:
- 102 New Leases Signed: Across all properties in our portfolio.Total New Square Footage Leased in 2024: 108,037 square feet.
- Renewed Leases: Successfully renewed leases totaling 59,706 square feet.
- Strategic Medical Leasing: Advanced its focus on healthcare tenants with key developments at 3100 Weslayan in Houston’s Greenway Plaza district. The property boasts an impressive Energy Star rating and features inviting courtyards, patios, and abundant natural light, attracting high-profile medical tenants such as Berkeley Eye Center, which renewed its lease for 8 years, for 35% of the building.
- Biggest New Lease in 2024: 8,627 square feet.
- Major Expansion: Oracle expanded its footprint at the Spectrum building in San Antonio, leasing over 34,000 square feet of prime office space, Portfolio Growth Hartman Properties’ portfolio witnessed notable achievements in occupancy and leasing performance.
- San Antonio Properties: Increased portfolio occupancy by 9.41%, bringing overall occupancy to over 80%.
- Spectrum Property in San Antonio: Increased occupancy by an impressive 11.25% in 2024.
- Year-End Total Occupancy: Reached 82.36%, with 6 of 11 properties achieving over 80% occupancy and 3 properties exceeding 90% occupancy.
Property Disposition: A major milestone this year was the successful sale of Richardson Tech Center, an industrial office park in Richardson, Texas, demonstrating Hartman’s strategic approach to asset management and value creation.
Strategic Market Positioning: Hartman Properties continues to outperform market trends, reporting significantly lower vacancy rates compared to regional averages.
In key markets:
- Houston: Reported a 14.54% vacancy rate, well below the Houston market average of 26.7%.
- Dallas: Outperformed with a vacancy rate of 2.53% and net absorption of 12,723 square feet.
Looking Ahead: “2024 has been a transformative year for Hartman Properties,” said Margaret Hartman, COO of Hartman Properties. “We’re incredibly proud of our achievements in leasing, property transformation, and strategic market positioning. Our team’s dedication and vision have set a strong foundation for continued growth in 2025 and beyond.”
Hartman Properties is poised to build on this year’s momentum, with plans to further optimize its portfolio, attract top tenants, and deliver unparalleled value to its stakeholders.
With BIZSUITES by Hartman, business owners can scale their operations efficiently, enjoying the flexibility of short-term leasing while maintaining a professional image.
For more information about Hartman Properties and its portfolio of premier commercial properties, visit www.hartman-properties.com.
For interview requests 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.