Purchasing Land with existing cell tower and lease
by Joseph
(Oakley,CA)
We are about to close on land we just purchased and it has a cell phone tower on it with existing 5 year lease at $500 month 5% increase every 5 years as well as renewal. I've heard others in the area are getting alot more. Do we have any negotiating rights as we are going to be the new owners.
Comments for Purchasing Land with existing cell tower and lease
The critical information is how many renewals are left on the lease. If you are 15 years in with one more 5 year, you will have some leverage, but not if the site is fairly new. They are very shrewd that way.
Mar 28, 2015 Rating
Assignment does not trigger renegotiation by: Stephen
Just because the lease will be assigned over to you does not automatically trigger a negotiation. At such a low rate, they will be happy to keep paying you that price for as long as they can.
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