# Postal Realty Trust


## Posts

### USPS Enters New Chapter with Appointment of David Steiner

The United States Postal Service is undergoing a significant leadership change that could have lasting implications for the future of mail delivery and the day-to-day operations of post offices nationwide. In late March 2025, Louis DeJoy officially stepped down as Postmaster General after nearly five years at the helm. DeJoy, who was appointed during the Trump administration, spearheaded the “Delivering for America” plan, a sweeping initiative aimed at making USPS more self-sufficient through network consolidation, service standard changes, and investment in new delivery vehicles. His departure marks the end of a controversial yet transformative chapter for the agency.



Following DeJoy’s resignation, Deputy Postmaster General Doug Tulino assumed the role of Acting Postmaster General to maintain continuity and ensure operational stability. Tulino, a longtime USPS executive with experience in labor relations and field operations, is serving in this interim capacity until a permanent successor is confirmed by the USPS Board of Governors.



In May, the Board announced the selection of David Steiner as the next Postmaster General. Steiner is a former CEO of Waste Management and currently serves on the board of FedEx, a major USPS competitor (he will step down from the FedEx board prior to assuming the Postmaster General role). His selection has elicited reactions from stakeholders across the postal ecosystem. The Board has emphasized Steiner’s logistics background as a key asset in continuing USPS modernization efforts, but his ties to the private sector—particularly to FedEx—have raised concerns about the long-term direction of the Postal Service. Labor unions, including the National Association of Letter Carriers, have voiced strong opposition, describing the appointment as a step toward privatization and warning that it could jeopardize the USPS’s public service mission.



Unlike many high-level federal appointments, the Postmaster General does not require Senate confirmation. Instead, the USPS Board of Governors—comprised of presidential appointees who are themselves Senate-confirmed—holds full authority to appoint the position. In this case, the Board worked with the executive search firm Egon Zehnder to vet candidates, culminating in Steiner’s selection in early May. He is expected to begin his tenure in July 2025, pending final background and ethics clearances.



Steiner’s appointment suggests a continued emphasis on cost-efficiency and operational restructuring—hallmarks of the DeJoy era that may accelerate under new leadership. As Steiner prepares to take the reins, stakeholders across the country will be watching closely to see whether his leadership brings continued transformation—or a new path entirely—for the Postal Service. If you’d like to speak in more detail about what these changes could mean for you and your property, please let us know by clicking here.

### USPS Leadership, DOGE and Delivering for America Update

The United States Postal Service (USPS) has been in the news a lot lately as it continues to pursue significant transformations aimed at enhancing efficiency and addressing longstanding financial challenges. The recent resignation of Postmaster General Louis DeJoy and the USPS’s agreement with the Department of Government Efficiency (DOGE) may influence the trajectory of the Postal Service’s "Delivering for America" 10-year plan and will likely reshape the future of this vital institution.



Delivering for America: The 10-Year Plan



The USPS has spent the past several years and billions of dollars implementing its "Delivering for America" 10-year plan, which aims to restore financial stability, improve service reliability, and modernize the postal network. The plan includes investments in new delivery vehicles, facility upgrades, and the expansion of package processing capabilities. It also seeks to enhance customer experience by reducing delivery delays and ensuring six-day mail and package delivery.



Leadership Transition



Postmaster General Louis DeJoy has resigned after nearly five years at the helm of USPS. His departure introduces a period of uncertainty for the USPS's strategic initiatives. As the architect of the "Delivering for America" plan, DeJoy's exit may lead to a reassessment of the plan's objectives and implementation strategies. Deputy Postmaster General Doug Tulino has assumed the role of interim leader. The USPS Board of Governors is tasked with selecting a permanent replacement, a decision that will undoubtedly influence the future direction of the organization's modernization efforts.



Collaboration with the Department of Government Efficiency



Prior to his resignation, Dejoy entered into an agreement with DOGE, led by Elon Musk, in a bid to identify and implement further efficiencies. This collaboration aims to address critical areas such as the management of retirement assets, the Workers' Compensation Program, and regulatory mandates. While these efforts align with the "Delivering for America" plan's goals of financial stability and service improvement, they also introduce potential shifts in operational priorities. The integration of DOGE's recommendations may lead to significant changes in the plan's execution, emphasizing cost-cutting measures.



Workforce Reductions and Operational Changes



As part of its restructuring efforts, the USPS plans to reduce its workforce by 10,000 employees through a voluntary early retirement program. This initiative follows a previous reduction of approximately 30,000 employees since 2021. While these measures aim to cut costs and improve efficiency, they have raised concerns about potential service delays, particularly in rural communities.



Balancing cost-saving measures with its commitment to universal service will be a critical challenge for USPS leadership. Additionally, the involvement of DOGE has sparked discussions about the potential privatization of USPS, a move that could fundamentally alter the agency's public service mandate. With all of these changes, you may be wondering how your postal property will be affected. The team at Postal Realty Trust is here to help. Call us today to discuss these developments, your property, and any other postal-related questions you may have.

### Highlights and Insights from the Latest AUSPL Conference in Las Vegas

The Association of United States Postal Lessors (AUSPL) hosted its largest-ever number of attendees at a regional event at the Las Vegas Conference in November 2024; over 100 AUSPL members learned about lease negotiations, building maintenance costs, understanding lease language, and working with EMCOR on maintenance and collection notices. Postal Realty Trust was the main sponsor with several experts in attendance to answer questions from the postal lessor community.



A noteworthy topic of interest was how to communicate effectively with EMCOR. Postal lessors must communicate with EMCOR regarding initial maintenance requests, enforcements, and, more recently, collection notices. Steve Roberts, an AUSPL Board Member, met in person with the USPS to discuss EMCOR and their processes. Did you know that EMCOR has no decision-making authority? They are strictly the third-party vendor that serves as the liaison between the USPS and the lessor. If you request an extension in order to complete a repair or request an exclusion because the maintenance request is USPS’ responsibility, you must continue to follow up with EMCOR until your request has been addressed. You are required to communicate with EMCOR, but EMCOR should also be working behind the scenes to obtain direction from the USPS.



When you receive a collection notice, read it completely. Ensure you have a complete collection packet that includes the EMCOR notices, repair quotes, before and after pictures, and final invoices. Reading each document could save you significant money. Does the repair match the scope of work in the original maintenance request? Is the repair cost reasonable? If not, you may be able to contest validity or request a reduction.



Here are some prospective examples of collection notices that provide the opportunity to either request a reduction or ask USPS to waive entirely:




Original notice was to replace one failed exterior light fixture – collection notice upgraded five exterior light fixtures to LED



Original notice was to repair a fence hit by an unknown vehicle – collection backup paperwork states the snow removal vendor was pushing the snow up against the fence, causing the fence to fall; as USPS contracts for snow removal, they need to provide the vendor’s insurance information for collection



Original notice was to repair a dock lift; upon investigation it was discovered that the dock lift was installed by USPS, and therefore not part of the landlord’s maintenance responsibilities




These examples demonstrate how a collection notice could include repairs beyond the original scope, include an upgrade instead of a noticed repair, or incorrectly define the cause of the damage.



Thoroughly review the collection notice to determine if you can negotiate a reduction or dispute it entirely. Knowledge is power – be your best advocate. If you have received a collection notice and would like a second set of eyes to help, please reach out to our office. We have a team experienced in responding to EMCOR Enforcement Collection Notices.



Next year’s AUSPL national conference will be held in Washington, D.C., on March 26-28, 2025. We look forward to meeting you and discussing any postal topics of interest.

### MTAC Meeting Recap & Delivering for America Update

Postal Realty Trust attended the August MTAC meeting at USPS Headquarters in Washington, DC, where Postmaster General (PMG) DeJoy and others discussed current topics relevant to the Postal Service. MTAC is shorthand for the Postmaster General’s Mailers Technical Advisory Committee, and the quarterly meeting provides an opportunity for the Postal Service to share technical information with mailers and receive advice and recommendations on matters concerning mail-related products and services. The intent is to enhance customer value through expanded use of the products and services offered by the Postal Service.



PMG DeJoy acknowledged that the Postal Service has encountered bumps in its activation of Regional Processing Distribution Centers (RPDCs) and is not pleased with the results. He stressed that the mail delays are being addressed and that the new system will ultimately prove to work well. He commented that the public should understand there will be temporary disruptions during the deployment of the Delivering for America (DFA) plan but that the alternative, keeping the status quo, is far worse. The PMG mentioned the Postal Service still plans to vacate between 150-200 sorting facilities and has vacated 30 so far. He said they have 68 Sorting & Delivery Centers (S&DCs) operational and expect 16-18 more to be activated by the end of September 2024. He indicated he hopes to eventually have 800-1000 S&DCs; the Postal Service currently has about 19,000 delivery units, and his goal is to get that number down to around 14,000.



PMG DeJoy mentioned his team has not had sufficient time to adequately discuss how to deal with the impacts on individual post offices when delivery routes are moved to an S&DC. He plans set up a task force soon to investigate how best to use the excess space and better utilize the postmasters, as their workload will change.



Another benefit of attending these meetings is the opportunity to interact with USPS officials from different departments. We also interact with representatives from non-postal groups like Amazon, UPS, and other large mailers.



Our goal in attending these types of meetings is to provide our fellow owners with current, relevant information on initiatives the USPS is undertaking that could impact their postal property. If you’d like to discuss the future potential impact of the Postal Service’s Delivering for America plan on your post office, please click here to contact us, and someone from our team will reach out to you.

### Recap of the 2024 USPS National Postal Forum

In June 2024, Postal Realty Trust attended the USPS National Postal Forum, along with several thousand other firms engaged in services that interact with the Postal Service. Postmaster General Louis Dejoy, most of his senior officers, and many other high-level managers from the Postal Service provided a variety of presentations on the “state of the USPS” as it continues along its path to implementing the “Delivering for America” 10-year plan.



National media stories and Congressional committees responsible for oversight of the USPS voiced concerns that the Postal Service is not achieving the improved service standards or realizing financial benefits from their initial activation of several Regional Processing & Distribution Centers (RPDCs). In May 2024, the Postal Service announced they would pause some RPDC activations until next year. The Postal Service announced to Congress and to the NPF attendees that they are still focused on achieving the initial goals of the 10-year plan. As such, they pointed out that implementation of the Sorting and Delivery Center (S&DC) program would continue despite other parts of the plan being postponed. By the end of 2024, the Postal Service hopes to have approximately 100 S&DCs operational with another 150-200 going live in the next couple of years.



Postal Realty Trust stays in touch with USPS officials, members of Congress and other stakeholders to stay current on the status of the 10-year plan and other programs that affect the landlord community, which owns properties leased to the Postal Service.

### Recap of the 2024 AUSPL National Conference

In April 2024, the Association of United States Postal Lessors (AUSPL) held its national conference in Miami, FL. Postal Realty Trust was proud to be the Principal Sponsor of the event. The three-day, two-night conference was enjoyed by over 300 attendees. The event was led by AUSPL President Keith LaShier, who also serves as the Senior Vice President for Real Estate Asset Counseling, the premier consulting company serving owners of postal properties. Attendees were provided presentations and training materials from a variety of experts on topics including: USPS lease forms, building maintenance, building inspections, insurance, estates and trusts, EMCOR and other relevant topics. A popular subject was “Lessor Issues Dealing with the USPS.” Keith LaShier and Abby Feinstein of REAC were key presenters in this session. They shared their experiences with the attendees and offered useful tips and recommendations on working with USPS and JLL.

### Delivering for America (DFA): Three Years of Successes and Challenges

The United States Postal Service (USPS) launched the Delivering for America (DFA) plan in March 2021 to address projected financial losses over the next decade. The plan outlined several goals to achieve financial sustainability and improve service. What were their goals and how have they progressed so far?




Network Optimization: An investment of $7.6 billion has begun creating a new processing and delivery network infrastructure. This includes 16 operational Sorting and Delivery Centers and 11 Regional Processing & Distribution Centers under development.



Price Adjustments: DFA includes raising first-class stamp prices twice per year, projected to generate $44 billion in additional revenue over ten years.  According to USPS data, stamp prices increased 17 times throughout the 20th century. Since the beginning of the 21st century, the prices have already increased 16 times.



Product Expansion: New offerings like USPS Connect and Ground Advantage cater to small and mid-sized businesses with same-day or next-day delivery. The USPS expects these products to be significant revenue drivers.



Package Processing Automation: The USPS has deployed 249 new package sorting machines, increasing daily processing capacity to 60 million packages. They anticipate parcel shipping will grow 5% per year for the next five years.



Service Performance: A 2022 Government Accountability Office (GAO) report indicated the USPS' best service performance across all mail products since 2018. However, it's important to note the USPS sets its own service standards. In October 2021, they adjusted first-class mail delivery from one to three days to two to five days, partly due to a shift from air to ground transportation.



Postal Reform Act (PSRA) Impact: The enactment of the Postal Service Reform Act (PSRA) in 2022 was a significant development. This act relieves the USPS of the burden of pre-funding retiree health benefits, reducing projected expenses by $48 billion over ten years.




Challenges and Looking Ahead:



While the USPS has made progress, integrating new equipment has been challenging. Examples include training delays at a Virginia facility and machine size discrepancies at a Texas center. Additionally, a GAO report noted concerns about making adjustments based on lessons learned throughout the DFA's numerous projects.



The USPS remains committed to its transformation journey. Postmaster General Louis DeJoy, “While we have noteworthy accomplishments, we have far to go on our transformation journey.  However, our performance during the recent holiday quarter demonstrates that our modernization strategies are putting the Postal Service on an upward trajectory.”



Future Initiatives:



Negotiating changes to the Civil Service Retirement System (CSRS) to eliminate amortization payments, potentially saving $34.6 billion over ten years.



Completing the National and Regional Processing & Distribution Network and modernizing local facilities.



Acquiring 106,000 electric vehicles by 2028, with charging stations already being installed at some larger facilities. 



The DFA's long-term success will depend on the effectiveness of its strategies and the evolving postal landscape.

### Worried About the Rising Cost of Insurance?

The recent trend of rising insurance costs, influenced by natural disasters and inflation, is a key concern to all real estate investors. Coupled with the increasing costs of building materials and a strained property reinsurance market, property owners who grew accustomed to single-digit increases over the past decade are suddenly facing premium increases of 20% or more.



Owners of properties leased to the USPS face additional challenges due to the unique usage of their properties. In an earlier blog post, we discussed the impact of Amazon relying on local post offices for much of their last-mile distribution and the increasing incidents of Amazon vehicles damaging post office loading docks. 



USPS property owners must also consider the specifics of their lease agreements and the Postal Service's expectations for building owners to restore their properties after they've been impacted by a natural disaster or some other casualty. 



Understanding these dynamics is essential for effectively navigating the insurance landscape for USPS-leased properties. 



Developments and Trends to Watch



Natural Disasters: The rising frequency and severity of losses associated with extreme weather events made 2023 the fourth consecutive year in which global losses from natural disasters are projected to exceed $100 billion. Within the United States, a record number of incidents, such as Tropical Storm Hilary, Hurricane Idalia and the Hawaii firestorm, were especially devastating. Many climate experts expect this trend will continue to disrupt the commercial property insurance market.



Inflation: The real-world costs for materials and labor continue to rise. As inflation issues persist, property owners face not only increased rates but could also encounter coverage concerns if their policies were underwritten using outdated property valuations. Owners who don't update their property values to reflect inflation trends could receive reduced payouts and find themselves unable to repair their properties in the wake of a casualty. 



Tips for Property Owners:




Conduct a thorough inspection of your properties and the surrounding area for specific risk-management concerns. While you may not be able to prevent a weather event or a negligent delivery truck from damaging your building, there are often measures that can be implemented to mitigate these risks and lower your building's casualty profile, i.e., evaluating your roof system's wind-resistance, installing flood barriers, protective bollards.



Work with an insurance professional to begin your renewal process early. Gather as much data as possible and determine whether your policy needs to be reevaluated both in terms of coverage limits and property values.



Loss Control: Insurers are increasingly looking at building conditions and loss control initiatives. Addressing carrier recommendations can make your property more attractive to underwriters. If you have a loss, report the claim as soon as possible and, where possible, take action to limit the damage caused by these claims. 




The experts at Postal Realty Trust are here to help. Please give us a call if you want to discuss how these trends will affect your specific property.

### What Does a Government Shutdown Mean for My Post Office?

You may have read or heard the recent news about a potential government shutdown. What is a government shutdown, and what does it mean for my post office?



What is a government shutdown?



One of the responsibilities of Congress is to fund the government. The House and Senate must agree on how to fund the government, and the President must sign the legislation into law. Sometimes, Congress does not agree on the federal budget or appropriations bills for the upcoming fiscal year, which results in the temporary closure of nonessential offices of the federal government (and the withholding of pay to federal employees). Since 1976, there have been 22 funding gaps, with 10 of them resulting in workers being furloughed.



A government shutdown can result in delays at airports, museum and park closures, and disruption in funding for government programs like food and water inspections. Roughly two million federal employees and two million active-duty military troops and reservists will not receive paychecks. Essential federal employees like air traffic controllers and law enforcement professionals will continue to work, often without pay.



On September 30th, with just hours to spare, a government shutdown was narrowly avoided – but the stopgap measure passed will only last for 45 days.



What does a government shutdown mean for my post office?



Fortunately, the postal service is considered essential and operates as an independent entity that is generally funded through the sale of their products and services (and not by tax dollars). Their services will not be impacted by a government shutdown and all post offices will remain open for business as usual. Rental payments for leased postal facilities are also not affected during a shutdown and continue uninterrupted.

### Why are you suddenly getting so many EMCOR repair notices?

If you've noticed an uptick in EMCOR repair requests for your post office recently, you're not alone. Many postal lessors have seen a spike in repair requests, often for items they aren't used to hearing about from their facilities. 



At least part of the answer is "Gemba." Commencing in 2017, the Postal Service embraced a workplace improvement initiative referred to as a "Gemba" Assessment. "Gemba" is a Japanese leadership technique that requires managers to walk through a workplace to identify opportunities for improvement. The Postal Service concentrates on evaluating what they refer to as "6S," which is Safety First, Sustain, Simplify, Set in Order, Shine and Standardize. The Postal Service's goal for these "Gemba" walks is not just to improve operations but also how the post office appears to employees and customers. Beginning earlier this year, the Postal Service has increased its focus on completing "Gemba" checklists, aiming to complete 100 "Gemba" assessments per week.  



On the facility side, the "Gemba" Assessment evaluates building conditions with a focus on customer-facing items like the lobby and retail area, the front of the post office and parking lot conditions, as well as employee-only areas like the rear dock area, utility closets, restrooms, breakrooms, flooring, and windows. It is our understanding that the initial "Gemba" walk is conducted by completing a checklist that is used to input data into a national reporting system. Any deficiencies noted during the assessment are then entered as work order requests into the Postal Service's FSSP system, which prompts EMCOR to send repair requests to the landlord. 



As a result of the "Gemba" initiative, landlords have seen an increase in notices from EMCOR regarding maintenance requests to improve the interior and exterior of the facility. EMCOR estimates a thirty percent (30%) increase in maintenance notices since implementing the "Gemba" Assessment, though not all notices refer to "Gemba" as the trigger for the request, so the actual number may be much higher. "Gemba" related EMCOR requests may come from various sources beyond the local Postmaster, including a Safety Inspector or an Area Maintenance Technician. 



How will the "Gemba" Assessment affect you as a postal lessor? Each GEMBA assessment can create multiple maintenance requests, which are often sent to the landlord simultaneously. Typical maintenance requests are broken windows, window screens missing, stained ceiling tiles, damaged light lenses, toilets leaking at the base, railings to be painted, parking lot striping, chipped floor tiles, or cracked concrete. If the requested repair isn't clear, contact the facility Postmaster or Clerk-in-Charge to obtain clarity on the issue.  



As with any maintenance request, review the notices and compare them to your lease; many landlords have reported receiving multiple notices for items that are the Postal Service's responsibility, not the lessor's. If you aren't responsible, request an exclusion from EMCOR and continue to follow up until you have received confirmation the maintenance request has been excluded. 



For those requests that are a landlord's responsibility, it's important to be cognizant of the Postal Service's expectations for timely repairs. Can you complete all maintenance requests in thirty days? Does your budget have reserves for multiple unexpected repairs? If not, request an extension from the EMCOR representative. Provide written updates to EMCOR to ensure they do not switch the maintenance issue to the enforcement division. Maintenance issues that are switched to enforcement are more expensive to complete, and the Postal Service may require reimbursement or a rental deduction from the lessor in the future. Be diligent and know your options.



Overwhelmed with maintenance costs? Exhausted from attempting to get a response from the Postal Service and EMCOR? We understand your frustration. Our experienced team is always available to assist fellow postal landlords and help you understand your options. Please click here to reach out and learn more.

### Updates from the National Postal Forum in Charlotte, NC

From May 21st – May 24th, executives from Postal Realty Trust attended the National Postal Forum held in Charlotte, NC. The NPF is the premier mailing and shipping conference that works directly with the United States Postal Service to provide the industry's most comprehensive educational and networking platform. 



For Postal Lessors, the NPF was an opportunity to understand the evolution of the USPS delivery network under the Delivering for America plan, the Postmaster General's ten-year roadmap for placing the Postal Service on the road to financial sustainability. Attendees heard from USPS Executives with an update on the rollout of the S&DC initiative, the Postal Service's plan to consolidate carrier routes from local Post Offices to large, centralized Sorting and Delivery Centers. The Postmaster General reiterated that the S&DC initiative was "tied to the hip" to the successful deployment of the next-generation EV delivery vehicles, explaining that the availability of parking and electrical infrastructure at these large locations supports the new fleet, something that is not feasible at retail Post Office locations. At this time, implementation had been completed on six S&DCs, with a further 18 sites set to be launched in June and September of this year. All-in-all, the Postal Service shared plans for a network of 490 S&DCs consolidating carrier activity from anywhere between 4,000 to 8,000 local delivery units. 



The S&DCs were not the only network update discussed at the forum. In addition to Sorting and Delivery Centers, the Postal Service shared plans for approx. 60 new Regional Processing & Distribution Centers (RPDCs) and approx. 160-180 Local Processing Centers (LPCs). 



RPDCs are the largest and strategically most important facilities in the new network, with these facilities having the capacity to handle all mail transported into and out of their regions. Each RPDC region includes the RPDC facility itself, supported by two or more Local Processing Centers which will sort letter and flat mail to carrier routes and serve as transfer hubs to aggregate mail on its way to delivery via the S&DCs or local delivery units.  



An important observation of the Postal Service's presentation is their footnote that Retail and PO Box Operations are not impacted by these changes to the delivery network. Similarly, at the May 17th House hearing by the Committee on Oversight & Accountability, the Postmaster General testified that, "Rolling out this network will not result in a reduction of retail services." 



No doubt, these statements will be scrutinized as part of the Postal Regulatory Commission's public inquiry into the network transformations. 



Another much-discussed topic at the NPF of interest to Postal Lessors was the Postal Service's focus on property conditions and employee amenities at new and existing Postal Facilities. In a future edition of this newsletter, we will focus on the Postal Service's "GEMBA walks" and what Lessors can expect to see from EMCOR in the coming months.  



Are you wondering how the USPS's Delivering for America route consolidation plan will affect your property? Click here to sign up to get more information.

### Viva Las Vegas!

The Postal Realty Team descended upon Las Vegas last week, but we weren’t there for the roulette tables. No, our team came to the Neon City to attend the 2023 AUSPL Conference, the largest annual gathering of Postal Lessors.



Postal Realty was the principal sponsor of this year’s conference. We joined nearly 400 other Postal lessors at the historic Flamingo Hotel to learn about the latest developments in the industry and offer our expertise to fellow Postal owners.












Keith LaShier, AUSPL President and SVP of REAC




Among the highlights of the three-day conference:




Congresswoman Carolyn Maloney, former chairwoman of the Committee on Oversight and Reform, shared her wealth of knowledge on Postal issues and her continuing advocacy efforts. Congresswoman Maloney was the primary sponsor of the historic Postal Service Reform Act of 2022



Deputy Inspector General Elizabeth Martin from the USPS Office of Inspector General presented an overview of how they maintain the integrity and accountability of the USPS and took questions from postal lessors.



Keith LaShier, AUSPL President and SVP of REAC, shared an overview of the Postal Service’s S&DC (Sorting & Delivery Center) initiative and how the route consolidation effort undertaken as part of the Postal Service’s 10-year plan may affect post office owners.



Attendees received a thorough education on the latest changes to the USPS lease form, updates on the AUSPL Insurance Program, the AUSPL’s ongoing efforts in obtaining updated FOIA leased property information, tips for navigating the relationship with USPS and negotiations with JLL, advice on dealing with USPS deferred maintenance, EMCOR requests, and resolving lease disputes via the Board of Contract Appeals, maintenance “best practices” and new products that lessors can utilize to protect their properties and investments.



Rafi Harel, SVP of Postal Realty Trust, participated in a panel to close out the conference, answering questions from lessors about purchases, investments, and lease negotiations.




Congratulations to Deolinda C. for being the winner of our Apple AirPods raffle!



Though the conference was three days long, it went by in the blink of an eye. We had many fascinating interactions with fellow attendees, and we wish we had more time to continue those discussions. We’d love to hear from you and continue the conversation.















Rafi HarelAcquisitions, Property Valuation800.696.PSTL (7785)rharel@postalrealty.com













Nathan BarryProperty Maintenance800.696.PSTL (7785)nbarry@postalrealty.com













Isaac RichterLease Intepretation, Claims/EMCOR800.696.PSTL (7785)isaac@postalrealty.com













Carrie HerzTitle, Estates, Closing Process800.696.PSTL (7785)cherz@postalrealty.com













Robert KleinOperating Partnership Units800.696.PSTL (7785)rklein@postalrealty.com

















Real Estate Asset Counseling



Keith Lashier and Laurie FaithLease Negotiations, Other Advisory800.405.7179reac@postalrealestate.com

### USPS 10–Year plan and S&DC Initiative

The USPS has been working to modernize its delivery network as part of the Postal Service's Delivering for America Plan. A significant component of this transformation is the repurposing of Processing & Distribution Centers (P&DCs) into new Sorting & Delivery Centers (S&DCs).



Delivery Updates



Postmaster General Louis DeJoy announced the Delivering for America plan in March 2021. This is the USPS’s comprehensive ten-year plan to achieve financial sustainability and service excellence. USPS will reinvest on a vast scale to establish a network of new facilities supporting redesigned processing, transportation, and delivery networks. 



In a simplified model of the current delivery network, contract trucks leave the P&DCs early each morning carrying regional mail volumes. The trucks travel within a specific zone going from one post office to the next to distribute bulk mail. Letter carriers further sort and prepare the mail for delivery routes.



In the new system, the S&DC becomes a “hub,” and the post offices become “spoke facilities.” Letter carriers will transition from the back of post offices to larger S&DC facilities. 



Modernizing Mail



The USPS traces its roots to 1775 when Benjamin Franklin was appointed the first postmaster general. The Postal Service Act of 1792 created the national Post Office Department.



Although the USPS advanced over time, new internet services and industrial enterprises were able to leapfrog the legacy systems of the USPS in technological advancements.



Modern logistics and industrial facilities across industries are designed to enhance efficiency, productivity and employee wellness. Many postal processing facilities are decades old with multi-floor operations, limiting the opportunity to make drastic workplace improvements or operational and floor plan layout changes. S&DCs are expected to modernize the USPS network.



Delivering Benefits



Several studies indicate that a change in delivery operations may improve the USPS. Although opinions are mixed if S&DCs will bring better results, the initiative intends to drive many benefits, including but not limited to the following:




Reduce transportation and mail handling costs by establishing a modern network of much larger facilities with fewer, fuller trips between them via the spoke-hub transport paradigm 





Increase responsiveness to customers by decoupling operational tasks and retail activities; post office clerks do retail work, help load and unload trucks, and provide other forms of delivery support labor.





Expand post office services by reallocating sorting space for retail products and amenities





Improve working environments for hundreds of thousands of postal employees with modern facilities for sorting and expanded workspaces at the post offices





Reduce stress, strengthen performance, and raise the morale of postal workers





Standardize operational management for better mail distribution





Augment the percentage of the next-generation electric delivery vehicles. as another key component of the S&DC 




Stay Up-to-Date



The first S&DC became operational in Athens, Georgia, in November 2022; approximately 15 more centers are underway. Interested in learning more, join our mailing list for regular updates on USPS’s Delivering for America plan.  

### Amazon’s “Impact” on Post Offices

As e-commerce continues to grow and dominate the retail industry, Amazon has become one of the most significant players in the market. With its vast network of fulfillment centers and delivery vehicles, Amazon has revolutionized the way we shop online. However, this has also brought about new challenges for postal facilities and their lessors. Amazon relies on the Postal Service for a significant portion of its last-mile deliveries. With many facilities receiving daily pallets from Amazon, one of the primary concerns for lessors of postal facilities is the increasing number of Amazon vehicles driving into their post offices. 



This can cause several issues, including congestion, safety concerns, and potential damage to the building or surrounding property. As a result, lessors might consider steps to mitigate these challenges and ensure the smooth operation of their postal facilities. The following are some strategies that lessors of postal facilities can use to address the challenges posed by Amazon vehicles:




Set clear guidelines for Amazon delivery drivers. Lessors should work with Postmasters to establish clear guidelines for delivery drivers when accessing postal facilities. This may include designated parking areas, specific entrance and exit routes, and restrictions on the types of vehicles allowed on the property. Clear communication and signage can also help ensure that drivers follow these guidelines and avoid any potential safety hazards.



Consider physical barriers; in some cases, lessors may need to consider installing physical barriers, such as bollards, to prevent vehicles from driving into areas where they should not be. These barriers can also protect the postal facility and surrounding property from potential damage caused by accidents or collisions. 



Obtaining insurance information. In the event of an incident involving Amazon or any other 3rd party accessing a postal facility, communicate with the site to ensure they complete an incident report and obtain insurance information from the driver. In the case of after-hours deliveries, the Amazon pallet contains information which can identify the driver. Lessors can then file a claim with Amazon, the driver's insurance or provide the information to their own insurance company for subrogation. 



 Request security footage. Many postal facilities have interior and exterior security cameras. Speak with your Postmaster or the Postal Service's Inspection Service to find out if footage of the incident might be available. Some lessors may also have the ability to install security cameras of their own; as with all facilities related issues, it's a good idea to speak with your USPS Real Estate Specialist to determine if this is allowed under the terms of your lease and where camera may be allowed, to ensure the privacy and security of the mail. 



Facility optimizations. Sometimes the issue is not with Amazon vehicles, but with the width of the door docks not being able to accommodate the larger Amazon pallets. Landlords might consider reaching out to the Postal Service to discuss cooperating on an improvement agreement to allow the dock to accommodate these needs. Ensuring your facility meets the Postal Service's operational needs can help when discussing your next lease renewal.




In conclusion, lessors of postal facilities must address the challenges posed by Amazon vehicles driving into their post offices. By establishing clear guidelines, installing physical barriers and increasing communication with your facility, lessors can mitigate these challenges to ensure the safe and efficient operation of their postal facilities.Has your facility been impacted by Amazon or any other third-party delivery services? Our experienced property managers have the resources to assist with insurance questions, repairs and much more.

### Delivering Freedom and Stability to the USPS

As you may have heard, President Biden signed the Postal Service Reform Act into law. This historic legislation is expected to stabilize the U.S. Postal Service’s (USPS) finances and enable it to modernize its services.



The Pain of the Post Office



The Postal Service Reform Act eliminates the USPS’ unusual and onerous legal requirement to pre-fund retiree health benefits of current and retired employees for decades in the future. What? Yes, the USPS has been held back from financial health for years. Here’s what happened.



The USPS was actually profitable until 2006, when Congress passed the Postal Accountability and Enhancement Act (PAEA). It required the USPS to calculate all of its retiree pension and healthcare obligations for decades in the future, including people it hadn't even hired yet. Under the PAPE, The USPS was obligated to remit approximately $72 billion over ten years. This burden applied to no other federal agency or private corporation and significantly contributed to the enormous losses reported on USPS’ balance sheet.



As reported by the Institute for Policy Studies in 2019, if the costs of this retiree healthcare mandate were removed, the USPS would have reported operating profits for a number of years. The USPS Office of Inspector General explained this painful situation well in their blog back in 2015. “What if your credit card company told you: ‘You will charge a million dollars on your credit card during your life; please enclose the million dollars in your next bill payment. It’s the responsible thing to do.’ Doesn’t seem quite right, does it?”



Special Delivery for USPS



The Postal Service Reform Act frees the USPS from the burdens under PAEA. The House Oversight Committee estimates that the USPS will save $50 billion over the next decade with the passage of this new legislation.



Critical parts of the legislation include:




Eliminates $57 billion in past-due liabilities to the USPS’ retiree health benefits fund



USPS is no longer required to pre-fund retiree health benefits for its employees, which led to past-due liabilities (estimated $27 billion in savings over next ten years)



Future USPS retirees will be required to enroll in Medicare (estimated $23 billion in savings over next ten years)




Removing the PAEA requirements allows the USPS to reinvest in its workforce and infrastructure. The new legislation also institutes three additional improvements:




USPS will maintain a 6-day a week delivery service



USPS will create a public online dashboard to track national delivery times



The USPS can contract with state, local, and tribal leaders and governments to offer non-mail services, such as hunting and fishing licenses




This legislation releases USPS from an unsustainable business model, allows the USPS to invest in capital projects, research and development and increases its flexibility to take on future challenges.

### H.R. 3076: Bipartisan Support for the Future of the USPS

As you may have heard, Congress recently passed the Postal Service Reform Act with overwhelming bipartisan support, shoring up the agency’s finances for years to come. In addition to its financial implications, we found several additional areas of the legislation interesting:




Elimination of $57 billion in past-due liabilities of the USPS’s retiree health benefits fund



The USPS is no longer required to pre-fund health benefits for its employees, which led to past-due liabilities (estimated $27 billion in savings over the next 10 years)



Future USPS retirees will be required to enroll in Medicare (estimated $23 billion in savings over the next 10 years)



The USPS must maintain a 6-day-a-week delivery service



The USPS must create a public online dashboard to track national delivery times



The USPS can contract with state, local, and tribal leaders and governments to offer non-mail services, such as hunting and fishing licenses




This bill increases flexibility for the agency and offers enormous financial benefits, as well as ensures the continued importance of and investment in the delivery network for the foreseeable future.



Further, this week President Biden signed the $1.5 trillion omnibus appropriations bill for fiscal year 2022. The bill included a provision specifically prohibiting any funds provided in the bill from being used to consolidate or close small rural or other small post offices. These pieces of legislation demonstrate bipartisan recognition of the USPS’s importance to America’s infrastructure network and improve our tenant’s financial position for years to come.



In addition to being our CEO, Andrew Spodek serves on the board of the Association of United States Postal Lessors (AUSPL). The AUSPL provides education and training to its members and offers technical expertise, advice, valuable information, and exclusive customized insurance for postal buildings. It also lobbies government officials on behalf of the interests of all postal owners, making sure that leased postal facilities are fully considered as a means to ensure the USPS meets its universal service mandate. The AUSPL PAC was instrumental in meeting with stakeholders to get this legislation passed.



Please reach out to our team if you would like more information on the Postal Service Reform Act and how it might affect your postal property.

### Four Ways the USPS Delivers Value Via Its Last-Mile Distribution Network

Anyone with a strong understanding of logistics knows that “last-mile” delivery—the last leg of a delivery from a transportation hub to the final destination—is the most challenging and expensive part of the process. The USPS has the largest and best-developed last-mile delivery network in the world, providing a meaningful competitive advantage in the package delivery industry that is relied upon by all of the major retailers.



In fact, as Andrew mentioned in his latest blog, The USPS’s Unmatched Logistics Network Is the Backbone of E-commerce, and the growth of e-commerce is in large part made possible by the USPS.



1. All Addresses in the USA



Almost 60% of U.S ZIP  codes represent rural areas. The USPS excels at delivering to rural addresses because of its mature on-the-ground network. Only the USPS has access to every business and residential address in the nation, spanning 158 million delivery points with the ability to deliver packages to those addresses seven days a week. This preexisting network enables the USPS to deliver rural packages more cost-effectively than any other provider.



2. Continuous Shipping Growth



Experts forecast U.S. retail e-commerce sales will grow 13.7% in 2021, reaching $908.73 billion by the end of the year. The USPS’s package delivery services are increasing as e-commerce continues to grow, and major shipping companies know that the USPS has the most efficient and effective way to manage last-mile delivery. The USPS has a network of established preferred shipping partners, combining expertise and optimization for fast, efficient global shipping.



3. Reliable Shipping Volumes



USPS shipping volumes are unmatched across the country and around the world. In 2020, the USPS shipped 7.3 billion packages. The USPS is the single-largest postal authority globally, delivering almost half of the world’s mail.



Many businesses ship hundreds of packages every day, and their last-mile partner must have the capacity to keep up with that kind of volume. Most carriers do not have the necessary bandwidth to handle increased volume, and this is an area where the USPS excels. As many businesses scale back, the USPS is capable of handling increased volumes.



4. High Shipping Visibility



By using the USPS for the final mile of deliveries, shippers have a wide range of options with greater visibility for better customer experiences.



Informed Delivery: Along with standard scans at processing and sorting facilities, the USPS offers Informed Delivery service, allowing customers to preview images of their upcoming deliveries. Informed Delivery launched as a test in 2014, with a current accuracy rate above 95%.



Through the Informed Delivery dashboard, customers can schedule delivery alerts, request redelivery and more. This level of convenience and visibility is a big plus for customers.



Informed Visibility® Mail Tracking & Reporting: This USPS application enables shippers to leverage essential information about their mailings to manage operations, refine processes and adjust marketing campaigns as needed. This service provides end-to-end mail tracking information for letter and flat pieces, bundles, handling units and containers.



Local Love



Each post office is part of the strong USPS distribution network supporting last-mile delivery. The strength of the USPS also comes from its commitment to local towns and residents. The local post office has been a vital part of the community for hundreds of years, and Postal Realty Trust is a proud owner of such an important part of Americana.

### The USPS’s Unmatched Logistics Network Is the Backbone of E-commerce

Global E-commerce Is Booming



Consumer behavior and technological advancements have been fueling e-commerce for years, with the value of U.S. e-commerce reaching $600 billion in 2019. Propelled in part by COVID-19, U.S. e-commerce exploded to $792 billion in 2020, surpassing earlier projections and showing no signs of slowing down. Experts predict e-commerce will surpass 20% of total retail sales by 2025 and 34% by 2030 (vs. only 11% in 2019).







The People Have Spoken…and Shopped



The convenience of tech-enabled shopping has become essential in the age of COVID-19, and it’s here to stay. Consumers enjoy the many benefits of online shopping:




Convenient shipping: 90% of online shoppers ship directly to their home



Lower prices: 44% of online shoppers use deal-finding browser extensions or plug-ins to make comparison shopping easier



Payment flexibility: 25% of online shoppers are now using BNPL (By Now, Pay Later)



General convenience: There are more products and stock available online—time-saving, gas-saving and available 24/7/365



Safety: Particularly important during the pandemic, online shopping allows customers to avoid public places




Retailers Are Keeping Up



COVID-19 pushed retail marketers to rapidly change how they connect with consumers across their shopping journey. For example, selling on social media has skyrocketed, with social commerce sales projected to increase 36%, to $32 billion, this year. Retailers are using data and new software to optimize their strategy and operations; these improvements will be permanent, while pandemic-caused supply chain challenges will subside over time.



As expected, major retail brands are driving the nation’s’ growth in e-commerce, with Amazon and Walmart leading the way:







Up, Up and Away With the USPS



Growth in e-commerce has shifted the majority of delivery volume from mail to packages, and the USPS supports all of these top retailers. The USPS has the largest logistics network in the country and is the only organization capable of delivering to every address in the United States. The USPS and its network of post offices have been and will continue to be vital to “last-mile” delivery service for demanding customers expecting their purchases to arrive within days.



From a real estate perspective, the USPS’s property network is uniquely calibrated to accommodate the increased e-commerce. Most postal facilities are located either on or near main street, with good access to local roads and highways. Post office parcels tend to have a relatively high amount of land compared to the size of the building in order to provide adequate parking and maneuverability for customers, employees and postal vehicles. The buildings themselves are generally simple properties enabling flexible configurations that will continue to adapt to changing needs.



Further, the USPS’s experience delivering packages has led to operational efficiencies, like a minimized need for package storage. For example, companies like Amazon utilize a USPS service called Parcel Select. They drop off their packages in the morning, and the USPS delivers them that same day. The USPS continues to enable and improve e-commerce delivery efficiency through programs like this, keeping customers happy and spending money.



Postal Realty Trust is a proud owner of USPS properties, helping to make last-mile delivery possible across the United States.


## Pages

### DOGE, Privatization, and the USPS

The Postal Service is making headlines, and with leadership changes, evolving policies, and market shifts, you might be wondering how your property could be affected. Fill out the form below to speak to one of our team members and discuss how your property may be affected.

### Careers

Postal Realty Trust is a rapidly growing, publicly-traded real estate investment trust focused on purchasing and managing properties leased to the United States Postal Service. The talent and dedication of our exceptional team have been the driving force behind our success, and this knowledge is reflected in the way we work. We promote an entrepreneurial culture that fosters collaboration and fresh thinking, and we recognize and reward achievement.



We’re looking for great people to be a part of our growing company, and offer an excellent compensation and benefits package. If you’re interested in being a part of our future growth, please email our human resources department at jobs@postalrealty.com. Please reference the open position you’re applying for in the subject.



Open Positions



Corporate Counsel, Securities & Capital Markets



Senior Associate, Environmental Project Manager



Associate/Senior Associate, Project Manager



Employee Benefits




Competitive Base Salary and Annual Bonus



Equity Participation



Career and Professional Development Plans



Medical, Dental and Vision Plans



Flexible Spending Account



Health Savings Account



401(k) Plan 



Life and AD&D Insurance 



Transit and Parking Plan



Employee Stock Purchase Plan



Paid Time Off and Holidays



Parental Leave

### Thank You



### Sign Up Today



### Maintain a steady income without the costs or risks of ownership

https://www.youtube.com/watch?v=xFCjAy4jOHo




Learn More About OP Units





Want to learn more about OperatIng Partnership Units?



Fill out the form below, and a member of our team will contact you to discuss all the benefits of partnering with Postal Realty Trust

### USPS’s 10-Year Plan

With the unveiling of the Postal Service’s 10-year plan (Delivering for America), you might be wondering how your property could be affected. We’ve reviewed the plan in detail and analyzed how it could impact the postal property network.



Fill out the form below to speak to one of our team members, get a list of impacted properties and discuss how your property may be affected.

### Newsletter



### Dedicated Properties

Postal Realty Trust is honored to include in our portfolio some of the many post offices dedicated by congress in honor of distinguished individuals.





Pleasanton, TX



Name: Pleasanton VeteransHonoree: Military veterans of Pleasanton, TexasDedicated on: 12/21/2008



Alpha, IL



Name: Captain Joshua E. SteeleHonoree: Army captain killed in Afghanistan in 2007 by an improvised explosive deviceDedicated on: 12/6/2018



Denver, CO



Name: George SakatoHonoree: WWII Army soldier awarded the Medal of HonorDedicated on: 7/27/2018




The USPS delivers mail using planes, trucks, vans, bicycles, mules and boats, among others.




Knox, PA



Name: Specialist Ross A. McGinnisHonoree: Soldier killed in Iraq in 2006; posthumously awarded the Medal of Honor for sacrificing his life to save his comradesDedicated on: 6/13/2016



PROVIDENCE, RI



Name: Sister Ann KeefeHonoree: Lifelong advocate for social justice; helped found more than a dozen organizations in Providence dedicated to nonviolence and social welfareDedicated on: 5/22/2015



SHARON, MA



Name: Michael C. RothbergHonoree: Sharon native who died in New York City in the September 11, 2001, terrorist attacksDedicated on: 8/3/2010








On average, the postal service processes and delivers 162.1 million pieces of first class mail each day.




ROANOKE RAPIDS, NC



Name: Judge Richard B. AllsbrookHonoree: Superior court judge for the 6th Judicial District in Roanoke Rapids, North Carolina, for 22 yearsDedicated on: 5/7/2008



BALTIMORE, MD



Name: United States Representative Parren J. MitchellHonoree: Former state legislator in Maryland and member of the U.S. House of RepresentativesDedicated on: 10/12/2006



STATEN ISLAND, NY



Name: Vincent PalladinoHonoree: Former postal worker and president of the National Association of Postal SupervisorsDedicated on: 12/1/2005




10 million people visit USPS.COM each day.




SOUTH MIAMI, FL



Name: Marjory WilliamsHonoree: Long-time postal employee in the Miami-Dade area of FloridaDedicated on: 8/20/2001



East Chicago, IN



Name: Lance Corporal Harold GomezHonoree: Marine killed in 1967 during the Vietnam WarDedicated on: 10/10/2000



Columbia, SC



Name: Mamie G. FloydHonoree: Well known in her community of Ridgewood in Columbia, South Carolina, for her work in the schools and church, and for encouraging voter registration and helping children and seniorsDedicated on: 7/6/2000




44 percent of the world's mail volume is processed and delivered by the U.S. Postal Service.




CHICAGO, IL



Name: Reverend Milton R. BrunsonHonoree: Mentor in his community and leader of the Grammy-winning Thompson Community Singers for 48 yearsDedicated on: 10/21/1998



ST. LOUIS, MO



Name: Frederick N. WeathersHonoree: Active in both the NAACP and YMCA and well known in his St. Louis, Missouri, community as a Democratic committeeman and owner of the oldest taxicab service in the cityDedicated on: 11/7/1986



SWIFTON, AR



Name: George KellHonoree: Major league and Hall of Fame baseball player and longtime television announcer for the Detroit TigersDedicated on: 6/9/2010



AKRON, MI



Name: Akron VeteransHonoree: Honoring the men and women from Michigan who have served in the militaryDedicated on: 11/30/2009







See the complete list of postal facilities dedicated by Congress in honor of individuals.

### Featured Properties



### Testimonials

The Buyer of Choice



Our team of experts strives to make every transaction as straightforward and simple as possible with quick valuations, all-cash offers, tax deferral options and a fast closing.

### Frequently Asked Questions

A Partner You Can Count On



Postal Realty Trust, Inc. is the first-of-its-kind and only publicly traded REIT focused on buying and managing postal real estate. We own the largest portfolio of properties leased to the USPS. We’ve built a team with deep institutional knowledge across multiple disciplines—real estate, asset management, accounting and capital markets. No other company focused on postal real estate can match our team’s broad experience.



We strive to be a dependable resource for fellow postal owners and are here to help.







Operating Partnership Units*





Watch a short video on OP Units





Want to learn more about OperatIng Partnership Units?



Fill out the form below, and a member of our team will contact you to discuss all the benefits of partnering with Postal Realty Trust








*The above addresses several commonly asked questions about REITs and operating partnerships. The questions above do not describe any particular definitive documents, do not cover all situations and do not apply to all taxpayers based on their circumstances. You must consult your own advisor regarding the consequences to you of any transaction based on your particular circumstances.

### Investors

Q4 Will be building this page.

### Strategy

The large and highly fragmented market of postal properties presents a tremendous opportunity for consolidation. Even as the nation’s largest owner of properties leased by the USPS, Postal Realty Trust represents only approximately 6 percent of the total market. Further, the USPS always pays its rent on time and rarely moves from its mission-critical logistics facilities. We believe the size of our target market coupled with our reliable, government-backed tenant provides a strong foundation for delivering long-term value to our investors.



Our decades of experience, scale, ready access to capital, ample liquidity and ability to offer OP units make Postal Realty Trust the partner of choice for postal owners. Our seasoned acquisitions team maintains a robust and active pipeline of individual postal properties and portfolios across the logistics continuum.





The Importance of the USPS To America’s Logistic Network



As e-commerce has grown, the USPS’s unparalleled shipping and package services have proven to be vital across the logistics spectrum, including an unmatched ability to handle last mile deliveries. USPS delivers to over 165 million unique points every day (except Sunday), and its approximately 35,000 facilities representing the largest retail and distribution network in the nation. No other organization can replicate the USPS’s distribution capabilities, making its logistics network critical to the customers, the rapidly growing e-commerce industry and America.



By strategically acquiring individual properties and portfolios throughout the USPS logistics continuum, we are able to maintain a curated portfolio of assets well diversified by property type and location.





Property Continuum



High-Quality Assets.Diversified By Type And Location.







Competitive Advantages



We are the largest owner of postal properties and are poised for growth. Our team has deep institutional knowledge and decades of experience acquiring and managing properties.










“The USPS logistics network is vital to America’s infrastructure, and demand for last-mile deliveries is on the rise. As the largest and most experienced owner of postal real estate, we have the scale and institutional knowledge to continue to opportunistically grow and deliver long-term value to our shareholders.”
Andrew Spodek, Chief Executive Officer

### Portfolio

We are proud to own postal properties across the nation that support America’s critical logistics network, including last-mile, flex and industrial buildings. With the continued growth of e-commerce, the USPS’s unmatched network will remain indispensable. As the largest owner of properties leased to the USPS, Postal Realty Trust has the experience, scale and passion for the industry to continue consolidating this highly fragmented market, which we estimate to be around $15B in size.





Large, Growing, Diverse Portfolio





Properties



1,829





Total InteriorSq. Ft.



6.8MM





AnnualizedBase Rent



$76.4MM







Last-Mile¹



23.0%





Flex¹



53.8%





Industrial¹



23.2%





As of July 18, 2025



Note: Figures for PSTL's owned portfolio.1) Figures for PSTL's owned and occupied USPS properties.





Geographically Diverse Portfolio



Select state for specific details.





As of July 18, 2025Figures for PSTL’s owned and occupied USPS properties.





Featured Properties





View All Featured Properties





Dedicated Properties



In 1967, Congress passed the first law dedicating a postal facility in honor of an individual. Since then, post offices around the country have been dedicated to influential members of society. We are honored to count sixteen dedicated facilities among our portfolio.



Learn More

### Owners

“I grew up accompanying my father on trips to view potential purchases and visiting our portfolio of postal properties. You could say that the USPS and real estate are in my blood.”
Andrew Spodek, Chief Executive Officer















What We Buy



We are interested in buying all types and sizes of postal properties and have the scale and expertise to get deals done quickly. From single property deals to complex portfolios across multiple states with multiple owners, we make every transaction as straightforward and simple as possible.







Why Work With Us







Partnership Option



Unlike private investors and private equity firms, Postal Realty Trust is an SEC-registered, NYSE-traded REIT with publicly available audited financial statements. We have the flexibility to buy properties for cash, or qualified owners can partner with Postal Realty Trust by exchanging their property for operating partnership units. This type of transaction offers a number of potential benefits, including the ability to defer capital gains taxes while allowing the property owner to continue to be invested in a diversified portfolio of postal properties and earn distributions equivalent to those paid to shareholders of Postal Realty Trust common stock.



Learn More



Watch a short video






“To the entire team that handled our transaction, thank you. Everyone was professional, diligent, patient and accommodating. The entire transaction was smooth and painless. I would not hesitate to work with this team again.”
Daniel D., PA



See All Testimonials















Want a free valuation on your property?



Have postal-related questions?



As a fellow postal property owner, we want to be a resource you can count on. Our team of experts is here to help and has decades of experience in real estate, finance, lease negotiation and property management.




Contact Us

### Contact

Contact Us Today



Postal Realty Trust75 Columbia Ave.Cedarhurst, NY 11516516.295.7820Info@postalrealtytrust.com



NYSE: PSTL



Investor Relations & Mediair@postalrealtytrust.com516.232.8900



Acquisitionsproperties@postalrealty.com800.696.7785



Transfer AgentEquiniti Trust Company, LLC866.796.3419helpAST@equiniti.com equiniti.com/us/ast-access/individuals/





Email Us

### Blog



### Leadership

We have curated a team of seasoned industry experts who are passionate about delivering long-term value to our stakeholders. Our cross-functional team works collaboratively across disciplines—real estate, property management, accounting and capital markets—to ensure our proven strategy is reliably executed.



This dedication to excellence and broad knowledge base extends to our board, with independent directors who are grounded in the principles of transparency and accountability. Together with our executive team, they work to deliver consistent results to our shareholders.





leadership Team







Board of Directors

### Our Story

Our tremendous growth has been propelled by our deep institutional knowledge developed through a long track record of stewardship, our ready access to capital and a steadfast conviction that our reliable, government-backed tenant is an indispensable component of our nation’s logistics network.



As the first and only publicly traded real estate investment trust focused on properties leased to the USPS, we are well positioned to continue to deliver long-term value to our shareholders by consolidating this highly fragmented market of critical logistics assets, which we estimate to be around $15B in size.









The Team Behind the Growth



We know that it requires more than just access to capital and thorough due diligence to succeed in this business. Our dedicated cross-functional team of seasoned professionals is the driving force behind our company’s success. It takes a like-minded group of experts who share a single goal—building and managing a high-performing, diverse portfolio while remaining true to our roots to be the buyer of choice for postal lessors.



Meet the Team

### Privacy Policy

Postal Realty Trust, Inc. (the “Company”) has created this Privacy Policy to demonstrate our commitment to privacy. This Privacy Policy applies to all information we collect from and about you when you access our website located at WWW.POSTALREALTYTRUST.COM (the “Website”), or otherwise when you use, apply for, or inquire about our real estate investment services (the “Services”), including by phone, mail, email, or text message; via the “Subscribe to Emails” form on the Website; or in messages sent to us through social media.



By accessing the Website or using the Services, you agree to be bound by this Privacy Policy. If you are accessing this Website or using the Services as an employee or representative of a company or organization, this Privacy Policy is binding upon both you individually and to that company or organization, and references to “you” or “your” shall apply to you individually and such company or organization. If you disagree with any part of this Privacy Policy, you should not access the Website or use the Services.



COLLECTION AND USE OF PERSONAL INFORMATION



Personally identifiable information is any information that can be used to identify or locate a particular person or entity, including, but not limited to: name, address, telephone number, and email address. We do not collect personally identifiable information about you except when you specifically provide such information on a voluntary basis. Such personally identifiable information may be gathered in registrations, applications, information requests, online forms (including the “Subscribe to Emails” form on the Website), online surveys, and in some instances in the process of utilizing offers from our strategic partners. We may combine information we collect from and about you online with information we collect from and about you through other means. We may also combine your information with information we learn about you from other sources, such as account update notifications.



We may use personally identifiable information for the following general purposes: responding to your requests for Services and keeping you informed of updates about your inquiry; evaluating your eligibility for Services; ending you periodic emails; and/or protecting your rights, our rights and the rights of others. Additionally, we may share your information, whether individually or in the aggregate, with our subsidiaries or affiliates for marketing or promotional purposes or to improve the Website or the Services. When you terminate your use of the Services we may retain your information for a reasonable period of time afterward for the purpose of recordkeeping, account management and fraud prevention activities.



We value opinions and comments from our visitors and we may conduct online surveys or issue invitations for such. These surveys are entirely optional for all Website visitors. Usually the information from such surveys is aggregated and used for improving our products, services and operations and those of our subsidiaries and affiliates. In other cases we will use the identifying information as a vehicle for responding to an individual question or comment.



OPT OUT AND REMOVAL OF PERSONALLY IDENTIFIABLE INFORMATION



When you provide us with your contact information, you may automatically be added to our mailing list to receive updates, newsletters, correspondence and other materials of this type. If you no longer want to receive our e-mails, offers, updates on Services, or other communications, please send us a message at INFO@POSTALREALTYTRUST.COM with the subject matter “OPT OUT,” or follow the “unsubscribe” instructions at the bottom of each email or communication. Please note that you cannot unsubscribe from certain correspondence from us, including certain messages relating to your use of the Services.



You may request removal of your personally identifiable information from our systems by contacting us as indicated below. We may maintain a copy of your information for our records, or otherwise as we deem reasonably warranted in connection with the administration of the Website, Services, our business, or our legal obligations.



NON-PERSONAL INFORMATION



Even if you do not provide information to us, we may collect non-personal information about your use of our Website or Services, as detailed below.



COOKIES



Non-personal information (for example, domain names or e-mail and IP addresses) and data may be automatically collected through the standard operation of our internet servers or at our discretion through the use of “cookies.” “Cookies” are small text files we can use to recognize repeat visitors, facilitate a visitor’s ongoing access to and use of the Website, track usage behavior and compile aggregate data that can allow content and speed of access improvements and targeted offers. We do not link non-personal information from Cookies to personally identifiable information without your permission and do not use Cookies to collect or store personal information about you.



Cookies are not programs that download onto a visitor’s system and damage files (viruses or worms) or send information to third parties about websites visited (spyware). Generally, cookies work by assigning a unique number to the visitor that has no meaning outside the assigning website.



If a visitor does not want information collected through the use of cookies, there is a simple procedure in most browsers that allows the visitor to deny or accept the cookie feature. However, visitors should note that cookies may be necessary to provide them with certain features (e.g., customized delivery of information) available on our Website.



We may also use other standard Internet technologies, such as Flash technologies, Web beacons or pixel tags, and other similar technologies, to deliver or communicate with cookies and track your use of our Website. For example, we may include Web beacons in e-mail messages or newsletters to determine whether messages have been opened and acted upon. The information obtained with such technology enables us to customize the services offered and measure the overall effectiveness of our online content, advertising campaigns, and the Services we offer through the Website.



COLLECTION OF AGGREGATED INFORMATION



We reserve the right to perform statistical analyses of visitors’ behavior and characteristics in order to measure interest in and use of the various areas of the website. We may provide aggregated data from these sources to third parties for purposes of research and evaluation.  Survey participants are anonymous unless otherwise stated in the survey.



DISCLOSURE OF INFORMATION



We value your trust and respect your confidentiality. We may share your personally identifiable information with trusted third parties who assist us in operating the Website, providing the Services, conducting our business, or servicing you, or our affiliates or agents, so long as those parties agree to keep this information confidential. Examples include fulfilling requests for Services, analyzing data, providing marketing assistance, providing search results and links (including paid listings and links), and providing client service. We might also use third party tools or platforms, such as cloud services offered by Google, to process your personally identifiable information, in which case we would protect such information through use of passwords or other protection methods offered by such third parties. We also may share your personally identifiable information with affiliated businesses that we do not control but with which we engage in collaborative offerings, and with entities with which the Company may merge or which may acquire all or substantially all of the Company’s assets, as client information likely will be one of the transferred assets.



Additionally, we may share your personally identifiable information if we have a good faith belief that such action is: (a) requested or required by law, court order, other legal processes, or government or law enforcement authority; (b) appropriate to enforce policies of our Website or Services, including any investigation of potential violations thereof; (c) necessary to detect, prevent, or otherwise address fraud, security or technical issues associated with the Website or the Services; or (d) appropriate to protect our rights, property or safety, or the rights, property or safety of our employees, affiliates, agents, contractors, property managers, other users of the Website, other users of the Services, or other relevant persons or entities.



SECURITY



We have in place certain commercially measurable technological and procedural security measures in an attempt to protect and safeguard the security of the personal information provided by our users. Strict measures will be taken to protect against unauthorized access, alteration, or dissemination of personal information.



Unfortunately, no transmission of data over the Internet, and no system for storage of physical data, is guaranteed to be completely secure. It may be possible for hackers or other third parties not under the control of the Company to intercept or access private communications unlawfully. While we strive to protect your personally identifiable information, the Company cannot ensure or warrant the security of any information you transmit or otherwise provide to us. Any transmission or other provision of information is done at your own risk.



LINKS



There may also be links to other websites not owned or controlled by the Company. Such links are for convenience of reference only, and do not constitute an endorsement by the Company of the organization or individual operating such other website, or as an affirmation by us of the content of, or any products or services offered through, any such other website. By accessing another website from our Website, you hereby release us from any and all liability for your use of such link and website. We are not responsible for the content that appears on these other websites, or for any website (other than this Website) featuring, and/or owned or operated on behalf of, any of the properties within our portfolio. We have no control over the content of such websites. Once you access another website, be aware that we are not responsible for the privacy practices of, or other activities pertaining to, any such other websites. You should always use extreme caution when disclosing private information. We encourage you to look for and review the privacy policy of each and every website that you visit through a link or advertisement.



AGE POLICY & LEGAL DISCLAIMERS



We are in compliance with the requirements of COPPA (Children’s Online Privacy Protection Act). We do not knowingly or intentionally collect any personally identifiable information from, or market to or target, individuals under the age of 13. Under COPPA and the regulations promulgated by the Federal Communication Commission, we are not allowed to accept any information from persons under 13 and individuals under the age of 13 are not permitted to view this Website.



We strongly support parental control of the internet and, if you are a parent and do not want your children viewing this Website, we advise you to consult filtering software companies, such as: Net Nanny and Cybersitter. Net Nanny and Cybersitter are third party service providers that are not affiliated with the Company or any of its subsidiaries or affiliates and the Company does not assume any liability or obligation with respect to the services provided by such providers.



CALIFORNIA RESIDENTS



This Website is in compliance with the California Online Privacy Protection Act.



CHANGES



We reserve the right to amend this Privacy Policy at any time, so please review it frequently. If we decide to change our Privacy Policy, we will post the revised Privacy Policy here so that you are aware of what information we collect, how we use it and under what circumstances, if any, we disclose it. Any such change will be effective immediately upon posting, and your continued use of the Website or the Services signifies your acceptance of any such change. Use of information that we gather is subject to the Privacy Policy in effect at the time of use.



BUSINESS TRANSITIONS



If we or one of our subsidiaries or affiliates is acquired by or merges with another company, the assets of this Website, including personal information, will likely be transferred to the new company. Your use of the Website or Services constitutes your authorization of such transfer.



CONTACTING THE COMPANY



Please contact us through one of the methods below if you have a privacy concern or question regarding this Privacy Policy or the Website:



Phone:  800.470.3361



Email: info@postalrealtytrust.com



Mail:



Postal Realty Trust75 Columbia Ave.Cedarhurst, NY 11516Attn: Legal

### Home

Invested in the Future Of America’s Logistics Infrastructure



From your hometown post office to industrial mail processing facilities, postal properties are a vital component of America’s infrastructure. For more than 30 years, our founders have been proud owners of this important slice of Americana. We have the scale and expertise to deliver reliable growth to our investors and be a dependable partner and resource to our fellow postal property owners.



LEARN MORE








“I was looking to sell my four post offices and reached out to eight different potential buyers. I chose Postal Realty because they had the ability to close quickly with the least amount of work on my end. I am a real estate broker by profession, and this was probably the easiest transaction i have ever had.”
Joshua C., NY



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USPS's 10-Year Plan



Are you wondering how the USPS's Delivering for America route consolidation plan will affect your property? We can help.




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Diverse Portfolio, Stable Tenant





Properties



1,829





GeographicallyDiverse



49 States







Wtd. Avg. LeaseRetention Rate¹



99%





Wtd. Avg. RentPer Sq. Ft.²



$11.21





Wtd. Avg. RemainingLease Term



~4 Years





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As of July 18, 2025



Note: Figures for PSTL's owned portfolio.1) Reflects the weighted average lease retention of PSTL's predecessor for owned and managed properties prior to its IPO from 2015 through 2018; reflects PSTL's owned properties from 2019 to 2025 YTD.2) Includes owned and occupied square footage.







Insight for Owners and Investors





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Press Releases



08/04/2025Postal Realty Trust, Inc. Reports Second Quarter 2025 Results07/25/2025Postal Realty Trust, Inc. to Report Second Quarter 2025 Financial Results on August 4, 202507/21/2025Postal Realty Trust Declares Second Quarter 2025 Dividend



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## Properties

### Bishopville, South Carolina

Postal Realty Trust bought two properties from the seller's portfolio of postal properties. The main post office building burned down while under contract. We worked with the seller to assign the insurance claim to Postal Realty Trust and completed the rebuild post-closing.

### Gray, Louisiana

Postal Realty Trust worked collaboratively with the seller, the municipality and the USPS to subdivide the main post office in Gray, LA, allowing unused land behind the post office to accommodate an ongoing municipality project.



“We recently closed our transaction where we sold our post office facility to Postal Realty Trust. It got a little “complicated,” to say the least, with regards to title because we had to have it subdivided before closing.  Nevertheless, thanks to the team’s diligence, we kept plugging along. They were on top of their game, and we got it done as expeditiously as possible. Big thanks to the whole team.” – Craig L.

### Michigamme, Michigan

Postal Realty Trust bought the main post office in Michigamme, MI, as part of a seven-building portfolio. The Michigamme purchase required resolution of some complicated title issues. We were able to separately close the other six properties in less than 30 days and closed Michigamme after helping the seller resolve the title issues 30 days later.

### Pauline, Kansas

Postal Realty Trust purchased two buildings off-market from long-term owners. The two buildings are part of a larger industrial park. We were able to subdivide our properties and agree on an easement agreement with multiple ownership groups of different buildings within the park. Plus, the seller continued to own additional buildings within the industrial park.



“I would like to thank the entire Postal Realty Team for your approach and professionalism in closing the 400,000-square-foot acquisition of USPS-occupied warehouses from our group. This was a very complicated transaction that necessitated a lot of patience on your part, as well as flexibility. I can honestly say that your team was a pleasure to deal with throughout the process.” – John D.

### Reedville, Virginia

Postal Realty Trust closed on the main post office in Reedville, VA, in under 45 days and was able to help the seller be reimbursed by the USPS for certain maintenance costs post-closing.



" The sale of my post office to Postal Realty was a textbook experience of professionalism, combined with their positive proactive approach to get the deal done timely and to meet or exceed our mutual interests. They truly want to get the deal done, but in the right way. In fact, I ran into a few snags on my end and their attorneys jumped in to help solve the problems, which was not truly required from them. If anyone is considering selling their post office, I'd highly recommend a conversation with the team at Postal Realty.” – Blaine A.

### Warrendale, Pennsylvania

Postal Realty Trust won a competitive bid process after a widely marketed sales campaign for this processing and distribution center. We closed the all-cash purchase for $47MM just 31 days after contract signing. The property has two tenants in addition to the USPS.