The U.S. Postal Service’s (USPS) Realty Asset Management Group completed a very complicated ground lease with a public-private partnership for the Civic Square II project in New Brunswick, NJ. The long-term lease has benefits for the USPS and the city and county agencies.
The City of New Brunswick formed a partnership with a development company to complete this project, which was a key to the city’s downtown redevelopment efforts. The Civic Square II project involved the construction of the 135,000 square foot Public Safety Building that houses the Middlesex County Prosecutor’s Office, the New Brunswick Police Department, an underground parking garage and a newly restored Main Post Office for the USPS. Previously the Post Office, which was constructed in 1936, had been underutilized and had an increasing amount of deferred maintenance. The USPS now has a restored Post Office along with significant revenue from the ground lease. All Federal, city and county offices have benefited from the building through improved operations, higher customer satisfaction, and greater employee morale.
For more information, contact Mr. Edward Rynne, Jr. at (703) 526-2856 or via e-mail at erynne1@email.usps.gov
