by AUSPL Board Member Mark Dattel As Postal lessors we all want to ensure that our buildings are being properly maintained whether maintenance is the responsibility of the USPS, the owner or a combination of the two. It is incumbent upon us as lessors to inspect our buildings for any deficient maintenance and notify the…
On January 26, the U.S. Postal Service will institute changes in mail service pricing, including a 3-cent increase on stamps from $0.46 to $0.49 for First Class letters (1 oz.), as well as a 1-cent increase on each additional ounce from $0.20 to $0.21. Postcard rates will increase by 1 cent to $0.34 from…
Although comprehensive postal reform has yet to move forward, leaders in the House and Senate chose to include some restrictions on the Postal Service in the recently passed “omnibus” spending bill that will fund the government through September of 2014.
The $1.1T (yes, that’s a T for Trillion!) federal spending bill ended up 1,582 pages long and contained two policy restrictions on the USPS. Page 541 of the bill bars the USPS from discontinuing Saturday delivery as well as restricting the closure of rural post offices.
If the CBRE agent is a transaction specialist or a transaction manager, it is likely he/she is not a licensed real estate agent in the state where your post office is located. So, after doing your homework to discover the fair market value of your building and knowing what rent you are willing to accept,…
In its efforts to cut costs, USPS officials announced their desire to close 3,600 post offices in July 2011 and to eventually close up to 15,000 buildings nationwide, along with half their mail processing centers. Postal lessors and customers fought back and in December 2011, USPS agreed to a six-month moratorium on closings, which ended…
If you have a tax reimbursement rider in your USPS lease, it’s up to you to request a reimbursement. For tax riders prior to 1998, USPS will typically not pay special assessments; however, USPS will pay for assessments in leases that contain the tax rider dated 1998 or later. Currently, the Postal Service reimburses…
AUSPL Board Members Gary Phillips and Morgan Wolaver recently traveled to Washington, D.C. to meet with Mr. Tom Samra, USPS V.P. of Facilities, and Mr. Tom Russell, USPS Facilities National Manager of Real Estate Assets & Leasing. The nature of the meeting was an ongoing discussion on leasing terms but included avenues to work together…
The AUSPL Board of Directors recently joined AUSPL lobbyists Alan Suskey and David Jolly in Washington, DC, to meet with leaders in the House and Senate on postal reform. It was an “exciting” time in DC to say the least. Our trip happened to coincide with the end of the fiscal year and the government…
by Tom Coe, President Real Asset Counseling, Inc. Over the past few years, and particularly with the focus provided by the educational session on valuation of leased USPS properties at the AUSPL conference in Scottsdale this past April, there has been increased interest in the most appropriate methods to determine “fair market” and “fair value”…
By AUSPL Board Member John Heeren It’s important when dealing with the USPS or CBRE for lease renewals that you use simple and professional techniques to protect yourself and your investments. Here are a few really easy steps you can take for a successful lease extension. 1. Measure Your Building: Often when we measure the…