Postal Realty Trust (NYSE:PSTL) is a real estate investment trust (REIT) focused on acquiring, owning and managing single-tenant properties predominantly net leased to the United States Postal Service (USPS) and other government-related tenants. The company’s strategy centers on last-mile logistics facilities that support essential mail and package distribution, offering stable, long-term rental income under triple-net lease arrangements. By concentrating on purpose-built postal facilities, Postal Realty Trust taps into a niche market with strategic importance to national infrastructure and e-commerce delivery networks.
Since its initial public offering in 2018 under the ticker PSTL, Postal Realty Trust has grown through targeted acquisitions of purpose-built postal buildings and sorting centers. The company typically sources assets through sale-leaseback transactions with the USPS, allowing the Postal Service to free up capital for operational needs while securing the trust predictable lease payments. Properties often include drive-thru customer service lobbies, automated sorting areas and loading docks designed to handle high volumes of mail and parcels. The net lease structure shifts most property-level expenses—taxes, insurance and maintenance—to tenants, underpinning resilient cash flows.
Geographically, Postal Realty Trust’s portfolio is dispersed across key metropolitan markets in the United States, with concentrations in the Northeast, Sun Belt and West Coast regions. This diversification supports broad exposure to population centers and high-growth suburban areas where demand for efficient mail and package delivery continues to rise. The company monitors demographic trends and e-commerce penetration rates to guide its acquisition strategy and to identify markets with favorable supply-and-demand dynamics for last-mile logistics facilities.
Leadership at Postal Realty Trust brings deep expertise in real estate investment and operations. Michael S. Miller serves as President and Chief Executive Officer, overseeing strategy, capital markets activities and asset management. Prior to joining the company, Mr. Miller held senior roles at leading real estate firms, where he specialized in net lease and industrial property investments. Supported by a seasoned management team and an experienced board of directors, Postal Realty Trust leverages industry knowledge and relationships to source off-market opportunities and to optimize portfolio performance.
