by Andrew
(Miami, FL)
I currently own a property that has an existing cell tower. I purchased the property in 2006. The property is in Miami, FL. When I purchased the property the previous owner had agreed to a lease through 2030, he recieved a lump sum payment and I am not entitled to income from that lease until 2030. Recently I was contacted by someone representing Crown Castle that has acquired my lease through a large acquisition. They are now looking to extend the current lease through perpetuity , or as many years as possible. As consolation they have offered a small upfront payment and to share revenue for any new clients they are able to acquire. My concern is if I agree to extend the current lease, I may be signing away future revenue.
Also there is no guarantee that they will be able to secure new tenants.
Please advise.
Comments for Extending an existing lease.
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