USPS OIG Audit Report: Management of Vacant Properties

Background The U.S. Postal Service owns over 8,000 properties and leases over 23,000 properties with annual rents of more than $800 million. The Postal Service Facilities organization oversees these properties, including balancing the real estate portfolio, maximizing revenue, and managing vacant properties. Area and district personnel vacate Postal Service properties due to events such as…

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USPS OIG Audit Project: How Can the Postal Service Improve Management of Its Vacant Properties?

The Postal Service operates one of the largest real estate portfolios in the country. It owns nearly 8,600 facilities and leases over 23,000 facilities ranging in size from 60 square feet to 32 acres. When the Postal Service vacates a facility with an active lease, it can terminate or buyout the lease, or sublease the…

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