When most of us hear “The check’s in the mail,” we perceive it as a brush-off. But for Andrew Spodek, CEO of Postal Realty Trust Inc., that phrase is a stamp of approval.
The Cedarhurst, N.Y.-based REIT believes it’s the country’s largest owner and manager of leased U.S. Postal Service properties. The company’s portfolio of owned and managed postal facilities exceeds 1,000.
Spodek founded the REIT’s predecessor, Nationwide Postal Management Inc., in 2004. But his family’s ownership of postal properties dates back to the 1980s.
Spodek says his father “realized early on—and what we’ve proven to be true—is the Postal Service pays their rent on time, they rarely move and the properties require no on-site property management. We don’t even have to invoice the tenant; we’ve always received 100 percent of our rent.”
Read More at NREI Online : https://www.nreionline.com/reits/postal-realty-trust-ceo-talks-about-company-s-outlook-future