Profile
Acquisition criteria
| Tenant | United States Postal Service |
|---|---|
| Facility type | Retail · flex · industrial (P&DC, RP&DC, LP&DC, S&DC, NDC) |
| Lease status | In-term or nearing expiration |
| Size | Approximately 1,000 to 100,000+ interior square feet |
| Geography | All fifty states · rural through metropolitan |
| Seller profile | Individuals · families · estates and trusts · partnerships · tenancies-in-common |
| Condition | Unrestricted, including material deferred maintenance |
| Transaction size | Single asset through portfolio |
| Situations addressed | Estate and trust dispositions · partnership buyouts · divided family ownership · absentee ownership · owners facing a capital event |
Structures
Transaction structures
Structure follows the seller’s objectives for the proceeds. Each is reviewed with the seller and their advisors prior to commitment.
Structure A
All cash
Full proceeds wired at closing. The shortest path and the most frequently selected.
Structure B
Seller financing
The seller holds a secured note and retains income, with the asset and its obligations transferred at closing.
Structure C
Installment sale
Proceeds recognized across tax years. Frequently relevant where a low basis would otherwise concentrate gain.
Postal Heritage Properties does not provide tax or legal advice. Any structure should be reviewed with your own CPA and counsel.
Valuation
What determines value
Postal assets price differently from conventional net lease. Six factors carry the majority of the weight.
Factor 01
Annual rent
Contract rent, rent per square foot, and its position relative to current market.
Factor 02
Term & options
Term remaining, renewal options, and the notice and termination provisions in the rider.
Factor 03
Expense responsibility
Allocation of taxes, insurance, roof, structure and parking. The most frequently misread provision in a postal lease.
Factor 04
Building & land
Interior square footage, lot size, parking and dock configuration, and excess land.
Factor 05
Condition & age
Remaining roof and mechanical life, structural condition, and near-term capital exposure.
Factor 06
Location & alternate use
Value to the Postal Service, and value in alternate use on lease expiration.
Diligence
Information requested
None of the below is required to begin. It shortens the interval between first contact and a written range.
| The lease | All riders, amendments and renewal notices |
|---|---|
| Insurance | Most recent insurance declaration page |
| Capital work | Roof, HVAC, paving or structural work within the last ten years |
Questions
How we work
The questions below come up most often. They are answered here so they are settled before a conversation begins.
- Is a commission payable?
- No. We acquire directly, so there is no listing agreement and no brokerage fee to the seller. Where a seller is represented, the broker’s fee is handled within the transaction.
- The lease is in holdover. Is the asset still saleable?
- Yes. Holdover positions are ordinary in postal real estate and are underwritten regularly. They are frequently the reason an owner makes contact.
- Does the Postal Service approve the sale?
- The lease runs with the property. The Postal Service is notified and the lease assigned to us at closing. We manage that correspondence and the ongoing relationship.
- The building requires a new roof. Does that end the discussion?
- No. Condition is priced, not disqualifying. We acquire assets carrying material deferred maintenance and undertake the work after closing.
- How long does a transaction take?
- A written indication of value follows within 24 hours of receipt of the lease. From signed agreement to closing is a short, defined period with no financing contingency.
No cost, no obligation
Submit a lease. Receive a written range
Returned within 24 hours, with supporting rationale and a direct answer either way.
