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Federal Eye
Posted at 06:00 AM ET, 11/10/2011

Looking to buy property? Check with the Postal Service


The post office at 1625 W. Broad St. in Richmond, Va. could be yours for $610,000. (U.S. Postal Service/CB Richard Ellis)
In the market for a new office building or warehouse? Are you looking for a riverfront property, or a site located near other downtown stores, or perhaps in a suburban office park?

Eye Opener

The U.S. Postal Service may have some options for you.

Two weeks ago it quietly launched USPSPropertiesforSale.com, a site listing more than 90 post offices and mail distribution centers it is hoping to sell to generate some revenue and cut operational costs.

The site works like any other online real estate site: Type in your state and city, your ideal price, and then browse your options.

For example, if you’re looking to buy in Minnesota, you have three options: There’s a 17-story Art Deco-style structure on Kellogg Blvd. in St. Paul located along the Mississippi River with 38 parking spaces and 699,520 square feet. The listing price is negotiable.

There’s also a post office in Savage, Minn. suitable for a retail store, sitting on three acres with 54 parking space and 11,352 square feet. Asking price? $780,000. The Postal Service just added a two-acre site in Minneapolis that’s also up for grabs.

(RELATED: Is my post office closing?)

(Two post offices in Maryland, four sites across Virginia and one post office in Washington are also on the market, with a few of the sites already under contract.)

The Postal Service is partnering with commercial real estate firm CBRE on all of its transactions. CBRE reps declined to comment, but a USPS spokeswoman said the Web site currently lists more than 90 sites and will soon add more.

As it faces billions of dollars in losses, USPS is planning to close more than 3,600 post offices and as many as 250 of its 487 mail-processing sites. The closures have upset local customers, lawmakers and workers, who fear the closures could also eventually lead to layoffs.

Postal officials announced Wednesday however that they will temporarily suspend closing any more post offices over the next six weeks in order to focus on the holiday mailing season. Any closures will resume after Jan. 2, according to USPS spokeswoman Sue Brennan.

Follow Ed O’Keefe on Twitter: @edatpost

Further reading:

Interactive feature: Is my post office closing?

Postal Service proposal might slow deliveries

For more, visit PostPolitics and The Fed Page.

By  |  06:00 AM ET, 11/10/2011

Categories:  Eye Opener, Postal Service

 
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