Read the original article in The Oregonian here.
The U.S. Postal Service will close its University Station post office near Portland State University and open a new, smaller location at the First & Main office tower.
The Postal Service signed a lease Thursday for 9,364 square feet at First & Main, according to Urban Works Real Estate. The retail brokerage represented both parties in the transaction.
Ronald Anderson, a spokesman for the Portland Post Office, said the move would occur in January 2013.
First & Main is already home to a host of federal offices. The federal government has leased 265,000 square feet in the building since 2010, when the building opened just as the renovation of the Edith Green-Wendall Wyatt building federal building got underway.
The new location, which will be known as Waterfront Station, will offer all the retail services of the existing University Station, including post office mailboxes. One letter carrier will work from a different branch, and staffing with otherwise remain the same.
Anderson said the move was necessitated because it couldn't negotiate a new lease with the owner of the University Station building, a German trading company. But he said the new space would put the office closer to the downtown core. Its smaller footprint is better suited to the branch's needs, he said.
"Because of much of consolidation and the ongoing decline in mail volume, the University Station itself is far more square footage than we needed to conduct postal delivery operations," Anderson said. "In moving, that's actually allowed us to downsize."
But the new location lacks off-street parking, Anderson said. University Station had a parking lot.
The lease amount, or how it compares to the lease for University Station, wasn't immediately released. The First & Main tower is owned by American Assets Trust, a real estate investment trust based in San Diego.
The future of the University Station property also isn't immediately clear. The building, located at 1505 SW Sixth Ave., sits on a full city block just north of the Portland State University campus.
Ted Durant & Associates of Tigard, which manages the property, declined to comment on a client's business.