2023 Annual Report
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As we begin a new year, we’re taking a moment to reflect on 2023, which was greatly influenced by shifting market dynamics. The Class B industrial sector faced the same challenges as the broader real estate market, including rising interest rates and macro-economic shifts. Despite these hurdles, our team, and assets, showed remarkable resilience.
With ‘agility’ ingrained in our Core Values, we adapted our strategies to ensure the strength of our acquisitions and existing portfolio. We firmly believe in our investment thesis and are confident that the Sun Belt region, with its growing population, robust infrastructure, and strategic location, continues to offer significant potential for Class B industrial investments. Our target markets within this region remain attractive hubs for both businesses and investors alike due to their diversity.
Throughout the past year and as we move into 2024, we remain committed to leveraging our market insights, technological advancements, and operational expertise to seize emerging opportunities. Our primary focus remains on operating our assets at the highest level, while also being prepared for new investment opportunities as markets normalize.
As we reflect on 2023, we take great pride in how we proactively navigated the market, while focusing on turning challenges into opportunities for growth. One of the key drivers behind our success has been the strong operational foundation we’ve established. At Fort, we view our company through the lens of our flywheel. As we achieve objectives and improve on a daily basis, we push this flywheel forward at a faster and more effortless pace. By focusing our team’s efforts on the initiatives that generate the most momentum for our flywheel, we have built a team focused on propelling our company forward.