Proactive emergency preparedness reduces exposure to our clients.
KGIP provides third-party property management services for a 140,000 square foot, six-story office building in San Mateo, California.
Prior to the building being acquired in late-2016, KGIP assisted the new owner with due diligence for the asset and assumed the property management contract upon the close of escrow. As typical with its management assignments, KGIP promptly employed a detailed emergency preparedness plan for the property and arranged for the training of tenants in disaster response and evacuation procedures.
In early-2019, a large unforeseen plumbing leak at the building caused flooding and significant damage to central electrical systems due to the water entering the high voltage main electrical grid. This resulted in a full building shut-down, at which time the domestic water service was quickly disabled. With KGIP’s direction and consequent to the earlier tenant training, the building was rapidly and safely evacuated. KGIP coordinated with the electrical provider to shut down the transformer providing power to the building and worked closely with restoration experts, contractors, and local fire and building departments to ensure that the damage to equipment was minimized, building systems were restored, and the building could be reopened in as little time as possible.
During the shut-down, the KGIP team immediately implemented its business continuity plan in order to remain responsive and closely connected to tenants. In addition to sending updates multiple times per day, property management worked with the various building occupants during the restoration process to allow them to safely reenter their premises to recover essential belongings and business equipment such as servers. Although this incident impacted the business operations of each of the building’s 30 tenants, KGIP’s swift response and focus on customer service resulted in reduced exposure for the landlord (including minimal rent abatement) and in continued excellent tenant retention and absorption rates for the asset, which is currently 98.88% occupied.