CBRE Wins Exclusive Rights to 300 MSF USPS Contract
- Jul 21, 2011
July 21, 2011
By Barbra Murray, Contributing Editor
Clearly, CB Richard Ellis Inc. didn’t mail it in when bidding for a big contract with the U.S. Postal Service, because the commercial real estate services firm has just become the chosen one. CBRE is now the exclusive strategic corporate real estate solutions provider for USPS and its 300 million-square-foot portfolio of owned and leased properties.
CBRE’s responsibilities in its new role as the go-to firm for USPS will include the facilitation of property dispositions and the management of leasing activities. Tapping the firm for the job will take a load off the self-supporting government enterprise, which, for the last 14 years, has overseen its property-related activities through its Realty Asset Management office, along with assistance from a group of real estate services providers, CBRE among them.
As noted in USPS’s FY 2011 Strategic Sustainability Performance Plan, the organization’s national property portfolio consists of approximately 8,600 owned properties and an additional 24,600 leased facilities, with individual buildings ranging in size from as small as 50 square feet to as large as a single 1.5 million square-foot structure. The properties accommodate a range of activities that includes retail sales, mail processing, delivery maintenance and administrative services.
Not commenting specifically on the USPS contract, a CBRE spokesperson told Commercial Property Executive, “The strength and depth of our firm’s platform for real estate services continues to attract more and more organizations and companies.”