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USPS looks to unload real estate, awards contract for "strategic corporate real estate solutions" to CB Richard Ellis Group

The Wall Street Journal reports that the US Postal Service is “looking to downsize its real-estate portfolio”, and quotes Tom Samra, USPS vice president for facilities: “We’ll be putting buildings on the market and terminating leases, where possible.”

To coordinate the downsizing, the USPS has contracted with CB Richard Ellis Group for help in coordinating the selling of properties:

LOS ANGELES–(BUSINESS WIRE)–July 20, 2011–

CB Richard Ellis Group, Inc. (NYSE:CBG) today announced that the United States Postal Service (USPS) has awarded CB Richard Ellis a contract to serve as its exclusive provider of strategic corporate real estate solutions nationally. CB Richard Ellis will provide transaction management services for USPS, including leasing and disposition. USPS’s portfolio consists of approximately 35,000 facilities, totaling over 300 million sq. ft.

Historically, USPS has worked with multiple real estate service providers, including CB Richard Ellis since 1997. The new contract with CB Richard Ellis enables USPS to consolidate these activities with one service provider.

CB Richard Ellis’ Brian Murphy led the USPS pursuit team, partnering with the Washington, D.C.-based Public Institutions team as well as professionals in the Denver and New York markets. John Chichester will serve as the Alliance Director for the account.

  • Seen Too Much

    They have bit off a turd that will choke them.

  • Gregg

    Hope they wear their full hazard gear!!I think many of the older buildings(like the one I work in)may have a small asbestos problem.But congrats on your contract!!

  • B. fitz

    Looks like a huge conflict of interest here. Doesn’t CBRE represent many of the owners of properties leased to the USPS?

    How many of these leases have been audited for overcharges of shared expenses where the landlords (represented by CBRE) have unfairly benefitted?

    They are going to terminate the leases? What about paying back the USPS for the lease overcharges?