Commercial development could follow sale of downtown Austin post office
The Austin branch of the U.S. Postal Service is unlikely to be alone in switching locations due to cost concerns.
Email and other digital communications initiatives have pushed the U.S. Postal Service (USPS) to the brink, as consumers rely less on its services to fulfill their needs.
Although the organization had sought assistance from Congress, it announced last week that it would move forward with its own plans to cut costs. Although not directly related to this announcement, an Austin branch located on West Sixth and Guadalupe streets will soon be closing its doors and moving across town, leaving possible vacancies for business owners who are currently enveloped in a search for commercial space for lease.
The USPS will close the building, which was appraised at $17.1 million, early next year after finally completing a sale of the building to three development firms – the Novare Group, Andrew Urban and Endeavor Real Estate Group. The organizations have not formally announced their plans for the space, although some developers had previously mentioned using the location for office space rentals or residential construction.
“We are very fortunate to have the opportunity to partner with Novare and Andrews Urban on what we believe is one of the finest pieces of real estate in the city,”
Endeavor’s managing principal Jamil Alam told The Austin American-Statesman. Although the Austin branch is only moving its location, the USPS plans to close 250 mail processing centers across the nation as part of its cost reduction plan. Time will tell whether additional facilities in the Austin area are subject to being shuttered. Should that occur, business owners may have another opportunity to acquire Cedar Park office space.
As businesses launch their commercial building search, they should seek the expertise of a local real estate expert who can lead them to the ideal space for their needs.