Postal Realty Trust, an internally managed real estate investment trust that owns properties primarily leased to the United States Postal Service (USPS), has closed on a 100 percent occupied 431,000-square-foot industrial property located in Warrendale, Penn.
The industrial property is leased primarily to the USPS.
Andrew Spodek, CEO said, “We have exceeded our target of $100 million of accretive acquisitions for 2020. On an aggregate basis, the acquisitions were completed within our target cap rate range of 7 percent to 9 percent. We had an extremely successful year, and we believe we are well positioned to continue our consolidation strategy. We expect that our growing portfolio should continue to provide visible cash flows and an AFFO-covered dividend to our shareholders over the long term.”
The industrial property houses one of only 12 privately owned USPS processing and distribution centers larger than 300,000 square feet in the entire country. It is lo
