Extension of Lease

by Bill
(Pittsgrove, NJ 08318)

I currently have a tower on my property. The lease was originally a 25 year lease with a 15% increase every five years. We are now under 10 years left on lease agreement. The company wants me to sign a new lease extending it for like 75 years and the option to lease more property space than they have now. Now it is 40' x 40'. I believe they are looking for another 20'x 40' area. I do not get compensated on additional cells on tower. How should I renegotiate this? They are even trying to get me to accept an one time upfront payment just to sign. Any direction would be greatly appreciated. Thank You.

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Jun 11, 2014
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Nice monopole, now let's fix the lease.
by: Tower Genius

Thanks for the posted question and for uploading a picture of the tower. Looks like a 3 carrier monopole where a 4th carrier removed their antennas. No worries, since they aren't paying you any subleasing revenue. Typically the 3 major tower management firms, American Tower, Crown Castle and SBA Communications start to get a bit more serious about extending their leases when there are fewer than 10 years remaining, especially since this tower is loaded.

The 75 year extension is completely insane, which leads me to believe you are dealing with SBA, but who knows. 40'x40' is extremely tight and does not allow for growth, and giving up an additional 20'x 40' footprint makes the cell tower location attractive to potential new subtenants who might use a 400 square foot shelter and have space for a generator as well.

DO NOT accept a one time upfront payment, do not sign their term sheet or deal memo. You have a valuable tower that is certainly below fair market value if they have not been paying you for additional tenants.

Let's discuss today, I'm confident we can provide the expertise and guidance you need to get what you need and satisfy the tower company.

Tower Genius
888-313-9750

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