Postal Realty Trust Inc. is an internally managed real estate company that owns and manages properties leased to the United States Postal Service or USPS. The company’s portfolio is comprised of more than 270 postal properties located in 47 states with over 900,000 net leasable interior square feet. The company, through its taxable REIT subsidiary also provides fee-based third party management services for more than 400 additional postal properties leased to the USPS and owned by family members of our Company’s chief executive officer, Andrew Spodek and their partners.
We believe our ownership and continuing acquisition of properties leased to the USPS, as well as management of postal properties owned by third parties and leased to the USPS, is an attractive investment opportunity for, among others, the following reasons:
- The strategic importance of the USPS’s extensive national network to the nation’s infrastructure and growth of e commerce;
- Attractive cash flows from USPS-leased properties through stable occupancy and consistent rent growth across various economic cycles;
- Fragmented ownership and an aging demographic of current owners of USPS-leased properties present an attractive opportunity to consolidate ownership of an institutional asset class that currently is principally non-institutionally owned; and
- Opportunity to increase returns through professional property management, asset management and consulting services.