Sprint tower lease questions about selling

(Huntington Station, NY)

I have a Sprint cell tower that is in the 17th year. I still have 8 years left on the lease agreement but when we did originally sign the contract we did not ask for enough money on the rent and I'm only getting 10% rental increases every 5 years which I think is not really the going rate. I have been approached recently by a company that offered to purchase the tower and would give us half of all future income on the tower. We are currently getting $1,600 per month and we are on Long island. Are Sprint cell towers going to be replaced by smaller technology that will cause carriers like Sprint to use less equipment, rent less space, use smaller antennas and pay less rent? I am worried that this technology may become obsolete before my 25 year lease is over and I should sell to protect ourselves. Any suggestions?

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Jan 24, 2012
Long Island Sprint lease
by: Tower Genius

You are getting below fair market value for your lease. You should be getting a minimum of about $2,000 monthly but the question is are you receiving any additional revenue from other carriers? The 10% is also low.

With less than 10 years remaining new potential subleasing carriers won't sign a lease with Sprint because they need to have more time left on the back end of the lease before they make an investment on the site.

I would renegotiate. Call us please at 888-313-9750. We are very familiar with the NYC area market. Also don't worry about the technology becoming obsolete. The carriers can barely keep up to change light-bulbs in their equipment rooms so don't believe all the hype!

Tower Genius

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