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    Postal Realty Trust, Inc. Provides Fourth Quarter and Full Year 2024 Update

     - Executed New Leases with 3% Annual Rent Escalations & Ten-Year Term -
    - Acquired 197 Properties for $91 Million in 2024 -
    - Full Year 2024 Weighted Average Capitalization Rate of 7.6% -

    CEDARHURST, N.Y., Jan. 13, 2025 (GLOBE NEWSWIRE) -- Postal Realty Trust, Inc. (NYSE: PSTL) (the “Company”), an internally managed real estate investment trust that owns and manages over 2,000 postal properties leased primarily to the United States Postal Service (the “USPS”), ranging from last-mile post offices to industrial facilities, provided an update on its acquisitions, re-leasing and capital markets activity for the fourth quarter of 2024. The Company also provided an update on its portfolio, balance sheet and fully diluted shares outstanding at year-end as well as on its acquisitions for the full year of 2024.

    For the full year 2024, the Company acquired 197 properties leased to the USPS for approximately $91 million, excluding closing costs. These properties comprise approximately 571,000 net leasable interior square feet and had a weighted average rental rate of $13.61 per leasable square foot. These acquisitions were completed at a weighted average capitalization rate of approximately 7.6%.

    The Company continued to make significant progress signing new leases with the USPS. As of December 31, 2024, the Company received 88 fully executed new leases from the USPS representing 85% of the aggregate 2023 expired rent and 118 fully executed new leases from the USPS representing 95% of the aggregate 2024 expired rent. 9% of leases within the portfolio were ten-year leases and 27% benefitted from annual rent escalations based on rents in place from leases received as of December 31, 2024.

    “Despite recent headlines regarding the Postal Service, our business has and continues to perform, maintaining a 99% retention rate with the USPS over the past 10+ years through multiple administrations and USPS organizational changes,” stated Andrew Spodek, Chief Executive Officer. “We have received almost the entirety of the outstanding 2023 & 2024 leases and production is underway on the 2025 expirations. These new leases contain 3% annual rent escalations and include a mix of five and ten-year term. Our progress on the leasing front underscores the Postal Service’s commitment to this crucial logistics network and our portfolio of mission-critical postal properties.”

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    Postal Realty Trust, Inc. Provides Fourth Quarter and Full Year 2024 Update  - Executed New Leases with 3% Annual Rent Escalations & Ten-Year Term -- Acquired 197 Properties for $91 Million in 2024 -- Full Year 2024 Weighted Average Capitalization Rate of 7.6% - CEDARHURST, N.Y., Jan. 13, 2025 (GLOBE NEWSWIRE) - Postal …