Tue. May 21st, 2024

Who owns your local post office? Hint: It’s probably not the USPS.

April 8, 2024

READ FULL ARTICLE AT » DC Velocity

The U.S. Postal Service (USPS) serves nearly 165 million delivery points across the nation through a network of some 32,000 locations. But it doesn’t own all of those properties. In fact, USPS leases more than three-quarters of those locations (about 25,000 properties), contracting with roughly 17,000 different owners for the use of the buildings, according to Postal Heritage Properties. Based in New York, Postal Heritage Properties is a family-owned real estate company whose core business is acquiring USPS-leased properties and working with current or future postal property owners in an advisory capacity.

Brokering the sale of postal facilities is more complex than it might sound, the company says. For starters, these aren’t just ordinary buildings. Many of these post offices are architecturally distinctive, prominently located, or regarded as civic icons by their communities, and they’re often held by generational owners, ones whose families have owned the properties for years, it explains. That can lead to some fairly sensitive transactions when it’s time for those properties to change hands. To ease the transition, Postal Heritage provides advisory services to current postal property owners who are concerned about “preserving their family heritage,” the company says.

“Postal Heritage Properties was founded with a mission to assist generational postal owners in passing on a piece of their family heritage to a trusted partner,” the firm’s CEO, Jason Sakeni, said in a release. “Our company specializes in purchasing properties leased to the U.S. Postal Service and offering expert advisory services to current or potential postal property owners.”

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