Andrew Spodek, CEO of Postal Realty Trust (NYSE: PSTL), sat down for a video interview at Nareit’s REITweek: 2026 Investor Conference in New York, June 1-4.
Spodek discussed why the REIT's specialized focus on U.S. Postal Service properties continues to provide stable cash flows, strong tenant retention, and significant long-term growth opportunities through a highly fragmented ownership market.
Spodek said demand for the REIT's mission-critical postal facilities has strengthened as package delivery has expanded, shifting the Postal Service's business from traditional mail to last-mile logistics. With service to roughly 170 million delivery points six to seven days a week, the Postal Service remains an essential part of the nation's infrastructure.
The REIT also benefits from a uniquely reliable tenant.
"The Postal Service always pays their rent on time, 100% of rent, 100% of the time, doesn't matter what economic cycle we're in or government shutdowns, we still get paid," Spodek said.
He added that the Postal Service rarely relocates facilities, contributing to a tenant retention rate above 99% over more than a decade.
Looking ahead, Spodek sees substantial room for expansion. Of approximately 23,000 leased postal facilities nationwide, Postal Realty Trust owns only about 9% of the market, while ownership remains spread across roughly 17,000 to 18,000 landlords.