<- NEWER NEWS |
OLDER NEWS ->
Sunday, Aug 2, 2009
Outbound Mail: USPS Targets Thousands of Branches for Closure
Post Office Looking at Consolidation of 3,243 of its 4,851 LARGEST Branches and Stations
The news of U.S. Postal Service (USPS) closures has been trickling out in local communities. But a closer examination behind the reports finds the potential for a major flood of closings. The Postal Service sent a notice to American Postal Workers Union executives this summer that it was considering consolidation options in every major metro market in the country and would consider closing 3,243 of its 4,851 largest branches and centers in the review process. The markets have been identified, the exact locations have not - although the USPS has already stamped almost one-fourth of the ones it has studied as disposable, according to postal union officials. The review process was to last most of the summer (or more if Congress gets involved, and you know they will) but they want the consolidation to occur by October 2010.
According to USPS records, it owns 8,546 facilities totaling 219.6 million square feet and leases another 25,272 locations totaling 912.2 million square feet. Many, if not most, of those locations are counters in various retail locations occupying less than 1,000 square feet. The consolidations the USPS are studying are for larger locations of a few thousand to tens of thousands of square feet - most of it leased.
<- NEWER NEWS OLDER NEWS ->
Hot Post Office Properties
Income $6,108.00
Main Office: 800 interior square feet; 3,752 site square feet.
Income $7,800.00 pric reduced $7,000.00
Main Office: 640 interior square feet; 4,750 site square feet. Hours: Mon.-Fri.: 7:30am to 11:15am & 11:45am to 4:00pm. Saturday: 12:00pm to 1:15pm. USPS pays utilities.
Notes: This is a masonry/concrete block building with an A-Frame roof. The nearest post offices are 9.2 miles and then 18 miles away. Postmaster has stated that the USPS will not move anywhere nor close this facility.
Income $10,200.00 (an 8.33% return)
Main Office: 2,039 interior square feet; 11,434 site square feet. Population 2,427 so do not worry about this closing. The rent is at $5.00 per square foot which is WAY under market rent for the county and the state. 3.9% unemployment rate. 98.3% white. Look at these hours of operation: Monday through Friday 8am to 5pm & Saturday 8am to 2pm.
Property News tip
House panel votes relief for Postal Service
The House Oversight and Government Reform Committee voted Friday to approve HR 22, which would save the U.S. Postal Service $2.3 billion this year in health care costs. The bill allows the Postal Service to pay health care premiums for its current retirees using a trust fund designated for future retirees.
Without the bill, the Postal Service would have to make a $2.3 billion payment in September for its current retirees; postal officials say they cannot pay that bill.
“The Postal Service is facing a financial emergency,” said Rep. Edolphus Towns, D-N.Y., the committee chairman. “HR 22 would allow the Postal Service to live to fight another day.”
HR 22 was introduced in January and then spent almost six months before the committee. The bill now heads to the full House for a vote. Passage is almost guaranteed: The bill has 337 co-sponsors.
In Rhinebeck, NY home of APO, the post office is USPS owned. Though it serves well over 10,000 people and has several routes, and is very busy most of the time, they are cutting the hours back. Instead of being open until 7 pm now it will be closing at 5 pm. Instead of opening at 8:30 am it will now open at 9 am. Saturday hours are also being greatly reduced. Many people when considering a purchase often rely on the hours of operation. This is not longer a true indication of how busy the post office is. Think about this.
Do not allow other associations to put a scare into you so that you will be afraid to keep you post office or invest in other new purchases. I say once again, the closings and consolidations have to do with BRANCH offices in large cities or large Processing & distribution Centers.
KEEP THIS IN MIND THE NEXT TIME YOU FEEL CONCERNED ABOUT THE USPS CLOSING SMALL RURAL POST OFFICES.
Under a federal law aimed at ensuring service for rural and remote areas, economizing cannot be the sole factor in closing a post office.
***********************************
*********************************
THE USPS IS CREATING LANGUAGE IN LEASES THAT LOOKS SIMILAR TO FORMER FORM LEASES SO THAT OWNERS WILL NOT PICK UP ON THE SHADY ATTEMPTS TO RUIN THE MARKET VALUE OF YOUR POST OFFICE INVESTMENT.
THERE ARE 2 AREAS YOU NEED TO BE ESPECIALLY AWARE OF AND ONE IS THE PURCHASE OPTION RIDER. SIMPLY, NEVER GIVE THEM THE RIGHT UNDER ANY CIRCUMSTANCE OR CONDITION TO PURCHASE YOUR FACILITY. THEN YOU WILL NOT HAVE TO WORRY ABOUT THEM STEALING THE BUILDING AT WAY BELOW THE ACTUAL MARKET VALUE.
THE SECOND THING TO WATCH OUT FOR IS THE “OTHER PROVISIONS” CLAUSE IN YOUR LEASE NORMALLY ON PAGE 2. THE LANGUAGE OF THE SERVICES & EQUIPMENT RIDER REGARDING ELECTRICITY AND THE SEWER PROVISION IS ESPECIALLY TROUBLESOME. IT APPEARS THAT WE CAN NO LONGER TRUST THE USPS TO NEGOTIATE IN AN OPEN AND FAIR MANNER.
WATCH OUT AND SEND US A COPY OF EACH LEASE THEY SEND YOU SO WE CAN POINT OUT THE FAULTS.
