I had a lease with Verizon for a tower site on my land. It is a 30 year lease with 24 years remaining. It was purchased recently by American Tower. Today I received a call from American Tower requesting an extension to the lease for another 30 years in hopes of improving their ability to acquire additional tenants.
The initial proposal was to simply extend the existing lease along with the terms of the original lease. I asked about the possibility of revenue sharing and was told they did not do that. Given this is a new situation with American Tower vs. Verizon, I am hoping there will be some additional value for me by committing to the lease extension.
Have you had experience with American Tower on this type of issue and what my chances of reopening the lease terms?
Also, if you can provide comparative data on lease rates for this type of installation it would be appreciated.
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