KGIP are experts in transitioning properties into our managed portfolio as well as assisting our clients with due diligence in acquisitions and dispositions.
In October 2016, KGIP assumed the management of Principal Financial Group and Ellis Partners’ Pleasanton Hacienda Portfolio, consisting of eight buildings in 380,000 square feet with a mix of office, retail and R&D product type.
The management was transitioned to KGIP from a larger, volume-based national provider because of our firm’s ability to offer a personalized approach to the real estate. The owners were motivated to employ KGIP as the property management provider due to a high level of satisfaction with other existing assignments and due to KGIP’s fundamental operating structure, which allows local and regional leaders the time to focus required to bring “an owners eye” to the portfolio and to support specific client needs while simultaneously leveraging extensive experience managing commercial real estate on behalf of institutional owners and high net worth individuals.
In addition to affecting a seamless onboarding of the portfolio, KGIP served an instrumental role in supporting the successful disposition of the various properties within the portfolio, expeditiously fulfilling due diligence requests, procuring pricing for and overseeing the completion of capital expenditures – including parking lot repairs and re-sealing, roof overlay, landscaping repairs, conversion to recycled irrigation water, and HVAC replacements – assisting through the tenant interview process and transitioning vendor services. Hacienda Plaza and Professional, a four-building 78,000 square foot project, sold in April 2017, and KGIP continues to manage the property for an individual owner. Saratoga Center, a two-building 84,000 square foot project, sold in December of 2017, and Gibraltar Center, a two-building 101,000 square-foot asset, sold to an owner-user in November 2018. Sunol Center, a two-building 117,000 square foot property, sold to an owner-operator in August 2019.