Our initial lease agreement (5 yrs) has recently expired. American Tower has exercised its option to renew the lease, but they are telling us that they will reduce the rent by 50%. Our other option is to take a buyout with a 99 year lease extension which is twice the original 8 five-year renewal options. To date the site has only been able to entice one carrier (AT&T) but local rumor says T-Mobile has plans to buy in. My sense is that American is holding all the cards and that we have little recourse but to accept one of the two offers on the table.
Our preference would be to continue receiving monthly payments, but with the drastic cuts proposed, this is less than attractive. Can they do this?