Large Commercial Tenant Close 2,000 Locations

January 26, 2011 / Elizabeth Buckley, Commercial Property Analyst

The United States Postal Service, one of the largest commercial tenant in the country is considering a plan to close up about 2,000 of its branches, and will be reviewing the possibility of another 16,000 locations to cut off, while seeking to close the commercial tenant’s $9 billion annual deficit of its operating costs.

Large Commercial Tenant Close 2,000 Locations

The news about the commercial tenant’s possible cut- off for numerous of its branch locations was reported first at The Wall Street Journal last Monday. The report said the new closures are going to be an addition to the commercial tenant’s existing proposal to close about 491 locations— including 11 locations in Massachusetts— for the next couple of years.

The efforts to examine another 16,000 branches of the commercial tenant— which are roughly half of its operating units— will expected to happen in March 2011.

USPS’s have around 550 mail centers in Massachusetts, as of the January this year.

The postal service did not specifically identified which of its operating branches will be included in its first 2,000-branch culling, but according to the Journal report, numerous of the targeted branch locations will be on money- losing locations, which are mostly based in rural areas in some in Massachusetts:

* Springfield- Brigthwood office

* Springfield-Colonial office

* Wellesley’s Babson Park office

* Boston College in Newton

* Boston University in Newton

* Office in Cambridge; etc

USPS said in 2009, about 500 locations will be closed to save money. The commercial tenant— US Postal Service then started those foreclosures late last year.

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