New Building Owner

by Ross
(Louisville, KY)

500 W Broadway

500 W Broadway

Acquired building Nov 2013, also acquired an ATT cell tower. To be specific, actually acquired all of the equipment on the roof, foreclosure sale, ATT no longer owns the equipment.

ATT is paying, in my opinion, a paltry $1250 per month, with us paying electric. ATT has referred me to an "e-mail address" to re-negotiate the lease. I haven't even e-mailed yet. I'm more tempted to just cut the power to the cell tower, and let them call me.

As far as I know, the lease was negotiated well over ten years ago, and may have included perks (free phones, etc.) that I don't know about, and may even have expired.

Having acquired the building, and their equipment, and putting them on notice of that, and them giving me an "e-mail address"? Sounds like they are already planning on playing me for a sucker. (Sorry for the common language.)

I have stood on top of the building, taken the steps up to their equipment stand, seen cable housings running across the length of the building, so that two corners each have North/West facing "antennas", and the other corner, South/East facing "antennas". I don't know this business, but I'm not stupid. I imagine that that equipment is consuming at LEAST the 1250 payment in electricity each month, which I am paying. However, their is a private meter on the tower, which I have read. I can provide the usage.

Louisville, KY, is one of the 25 largest cities in America. My building is located at 5th ad Broadway, roughly 3 blocks South of the "Class A" office district, which encompasses the Courthouse at 6th and Jefferson (5 blocks North), and office buildings along and near the Riverfront, which is at Main street, approx. 7 blocks North of my building. So, I am at the Southernmost end of the desirable business district, by 7 blocks.

The northern "antennas", point well to that district, but are blocked by larger buildings, especially as you get closer (1-3 blocks) to the Riverfront.

The southern "antennas", point directly, with no obstruction, to the entire campus of the University of Louisville, a major American University, with has 23,000 enrolled students, and who knows how many faculty. U of L is a leader in Medical Research, have artificial heart transplants to it's credit, and a sports champion, having won the Final Four earlier this year, for what that matters. Not saying that's not good, but the 35-40k people my cell tower is probably helping serve, is more important from a business standpoint. All that for $1250 a month, and I pay the electric? Can't be right.

The U of L campus is within one mile of my building, and the antennas point straight at it, and there is only one taller building between me and U of L, and it is just a block closer. Maybe neither is close enough, and I'm not thinking right, again I know anything about this business, but I have some sense, and it seems to me that I have a pretty strong asset, that somehow ATT got for close to free a decade ago, and got the previous owner to pay the electric.

As for the East/West "antennas", we can discuss them. Again, I know very little except for instinct and common sense, so I'll stop talking.

The ATT lease was quashed by the Nov. 5, 2013 foreclosure sale, I bought their equipment, along with the building, and I called them to negotiate and they gave me an "e-mail address"?!?! I'm about to just cut the power, I'm sure it's consuming more than $1250, I can see banks and banks of equipment.

Ok, there you have it all. You're the consultants. Call me please, Ross L. 555-555-5555. (Editor's note: phone number edited for privacy.)

In addition to all the information above, I have attached a photo of the building, I can provide more photos if you require/would help. The address of the building is 500 West Broadway, Louisville, KY 40202.

Lastly, there is plenty more room on the roof to install more equipment, in case you think that other carriers might be interested.

Again, you're the consultant. Please give me a call as soon as you can.

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Dec 03, 2013
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Don't recycle their equipment just yet.
by: Tower Genius

Ross... Yes the site is significantly undervalued. It's a great location. Probably not a good idea at all to cut their power since it is a part of the city E-911 system's backbone. The prices paid for electric are kept very close to the vest, but it's safe to say it is at least half of your monthly rental amount since the cell site certainly runs hot and requires plenty of HVAC. Please check your inbox for our contact information. We have many questions.

Steve
Tower Genius
888-313-9750

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