The U.S. Postal Service (USPS) has put its Bellevue Midlakes office up for sale, citing financial woes as a main factor in the decision.

“Mail delivery has been declining and revenue is going down to the point where we’re experiencing a deficit,” said USPS spokesman Ernie Swanson.

The main Bellevue post office on Bellevue Way Northeast is not for sale, but but that just may be a matter of time.

“It’s not up (for sale) at this time, but the projection is that it will be in the very near future,” Swanson said.

The total assessed value of the main Bellevue post office is $17.2 million, which is nearly double the figure from 2008.

The Midlakes property, located on Northeast Second Place, has a total assessed value of $8.8 million.

The USPS insists there’s no hurry to sell its property, despite the need for a balanced budget.

“There aren’t going to be any fire sales,” Swanson said. “We want to get the full value for the property, if we sell it at all.”

Swanson said the Midlakes station would be replaced with a carrier annex at the existing USPS vehicle facility on Richards Road near Southeast 30th Street, as well as with a separate retail office containing P.O. boxes.

The USPS has also considered moving its offices in downtown Redmond, downtown Kirkland, and several Seattle locations.

“It’s going on locally and nationally,” Swanson said. “We have less need for space, so there’s no reason to stay in larger facilities.”

Decreased mailing and retail traffic has forced the USPS to implement other cost-cutting measures, like reducing delivery routes and carriers. All personnel reductions have come by way of attrition.

“There are no layoffs anywhere,” Swanson said. “We just don’t replace people we don’t need.”