Hartman Short Term Income Properties XX, Inc., a publicly registered, non-traded real estate investment trust, reports Galen Health Institutes has signed a lease for an additional 26,169 square feet of space at the company’s One Technology Center located in San Antonio, TX.
This expansion brings Galen Health Institutes’ total square footage at the property to 67,997 square feet, and includes the entire 14th floor of the property. The new lease will commence on October 1, 2016 and be effective through December 31, 2023.
Galen Health Institutes’ expansion of its current space brings the property’s total occupancy to 98 percent, as compared to the property’s occupancy rate of 91 percent when Hartman XX purchased the asset in November of 2015.
“We continue to be pleased with how our properties are performing both individually and collectively as a portfolio. Our leasing team continues to excel in their market knowledge and servicing of our current and future tenants,” said Al Hartman, chief executive officer of Hartman XX.
Hartman XX focuses on acquiring and operating a portfolio of commercial real estate in targeted markets in Texas that have demonstrated high occupancy potential and income levels across market cycles. At the end of the first quarter of 2016, the company had received approximately $164 million in gross offering proceeds and invested approximately $189 million in 15 properties totaling 2.4 million rentable square feet.