lease extention with crown castle and sprint

by ervin stokes
(everglades city fl)

I have a 25 yr lease with crown castle. Down to the last 9 yr period. Crown castle for two years wanted a 25 yr extention or buy out at 275 thousand dollars. Currently after 16 yr. we get 1,500 monthly with 15% increase every five yr. They lease land space of 6 thousand sq feet. They have a large tower on the property.I do not know who is on the tower other than sprint. They never disclose information. Sprint did lots of upgrades a few yr ago. Personally I do not think I gave them an easement to the site in the original agreement. To extend the lease they just want to give me a 20% increase.

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Aug 08, 2014
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9 years...........
by: Anonymous

They have 9 years to look for another place also.

I have a similar situation, CC just purchased my ATT lease. The ATT tower subleases to Sprint. Both carriers combined occupy around 800sq ft. I am in a busy intersection of freeways in Los Angeles. it is a prime location.

Now CC (ATT lease purchases) gets the sublease amount from Sprint ( unless held back from CC) and I'm sure ATT has had a free ride since Sprint came on board. My lease says I get nothing from additional tenants on ATT tower.

CC/ATT lease is up in 36 months. I am avoiding contact with CC to limit CC's time to relocate.
ATT land lease rent $2021 per month 3% annual increase
Sprint land lease rent $2,202 per month 3% annual increase.

Annual increase is better. do the math.

I would ask twice what they are offering and make the increase annual. Then settle somewhere to avoid loosing the tower.

Aug 07, 2014
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You have leverage.
by: Stephen

With 9 years remaining they will be more willing to negotiate, especially if the tower is loaded. You need to figure out exactly who are their tenants.

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