Posted on Mar 11, 2015
For the first time, the Association of United States Postal Lessors (AUSPL) will include in its annual Members’ Conference an “AUSPL Post Office Auction,” in which members will be able to offer buildings for sale, and make offers for buildings being sold. The Conference will take place on May 6 and 7, 2015, at the Eldorado Resort Casino in Reno, Nevada.
From time to time, members ask AUSPL questions relating to sales and purchases of postal buildings, and sources for finding buyers and sellers. As a response to those types of inquiries, AUSPL plans to present educational workshops at the Conference that are designed to give AUSPL members a basic understanding of purchases and sales of postal buildings, as well as investment considerations for persons who deal in commercial real estate (including postal buildings).
In conjunction with those educational workshops, and as a service to members who are not certain how or where to find postal buildings for sale or buyers for such buildings, AUSPL felt it would be a valuable exercise to conduct an Auction of postal buildings as part of the Conference. In the Auction, prospective buyers and sellers who attend the Conference will be able to put to use information taught in the Conference workshops. And such prospective buyers and sellers will also be able to use the Auction as a means of making contact with others who are interested in buying or selling postal buildings.
The Auction will be conducted like a “silent auction,” in which participants will be able to submit bids throughout the Conference. At the end of the Auction, winning bidders and prospective sellers will enter into non-binding letters of intent, under which they will express their intention to attempt to negotiate binding agreements with respect to the purchase and sale transactions. Those negotiations and any resulting agreements will be between the parties. They will not involve AUSPL.
Rules for the Conference Auction and related documents are linked here. Parties participating in the Auction who would like the assistance of experienced and knowledgeable real estate professionals are encouraged to solicit the assistance of Conference exhibitors who routinely engage in such transactions.