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Postal Realty Trust CEO Sees “Tremendous Opportunity” in Niche Sector
Andrew Spodek, CEO of Postal Realty Trust, was a guest on the latest edition of the Nareit REIT Report podcast.
Postal Realty Trust owns 366 post office properties across 43 states and was one of only a handful of REIT IPOs that occurred in 2019.
Spodek noted that there are 32,000 postal facilities throughout the country, of which 23,000 are leased and pay about $1 billion in gross rent. Of those 23,000, 16,000 are owned individually, he said: “That’s how fragmented this market is.”
As for the timing of the IPO, Spodek pointed to two key determining factors: a “generational shift” in the…
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