DHL drop boxes adding to AFTR's asset enhancement program.
According to the terms of the agreement, DHL will place drop boxes at up to 500 American Financial Realty offices and retail locations across the United States. The arrangement provides DHL with another avenue to expand its U.S. footprint by tapping into American Financial Realty's geographically diverse portfolio of properties. At the same time, AFR is able to provide its tenants with DHL's express delivery services, while capitalizing on a new revenue opportunity that unlocks additional value from AFR's real estate portfolio.
The program will be jointly marketed through American Financial Realty's property management group which operates more than 1,000 properties in 39 states and 338 markets and through DHL's USA web site (www.dhl-usa.com) and direct mail program, as well as brochures at drop box locations. Roll out will be phased in by market and is expected to be completed by June 30.
"This relationship with one of the leading providers of express delivery services, signals the beginning of a new asset enhancement program that will expand the scope and depth of services we provide to our tenants," said Michael Weil, senior vice president of sales and leasing at American Financial Realty Trust.
"The backbone of AFR's business model is our relationship-based approach to property and customer relationships.
" This relationship with DHL is yet another way that we provide value-added service that increases the growth and profitability of our customers, while creating new business opportunities for AFR."
|Printer friendly Cite/link Email Feedback|
|Publication:||Real Estate Weekly|
|Date:||Jun 14, 2006|
|Previous Article:||BEEP sparks revolution in commercial real estate industry.|
|Next Article:||Colonel promoted to senior vp.|