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

OIG_management_of_vacant_propertiesThe 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 property. When the Postal Service vacates a property it owns, it can sell or lease the property.

We are assessing the Postal Service’s efforts to manage its vacant property inventory and hope to identify opportunities to reduce costs or generate revenue. Currently, the Postal Service is working hard to “right size” its infrastructure to meet future needs. As part of this effort, the Postal Service could examine its real estate portfolio and take steps to ensure it is making the most efficient use of it vacant properties.

We’d like to hear from you, particularly if you have knowledge of specific Postal Service properties.

  • What can the Postal Service do to make more efficient use of its vacant properties?
  • How aggressive should the Postal Service be in managing its vacant properties considering the current real estate market?

Project Title: Management of Vacant Properties
Start Date: December 2, 2014
Estimated Report Release Date: July 2015

via How Can the Postal Service Improve Management of Its Vacant Properties? | Office of Inspector General.

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