At this point, Coronavirus has woven into nearly every facet of our lives. Much of the emphasis in the media has been on the negative impacts to small business and the economy. Yet, it’s not doom and gloom for everyone and as with any challenge there are opportunities for some.
In fact, here are three reasons cell tower leases are worth more than ever right now:
When Shelter In Place mandates began back in March, companies scrambled to address the needs of having remote employees. Now, most companies have found a way to pivot and adjust and many are contemplating not just when employees would need to return to office, but if they should return at all.
Though most companies won’t switch to remote-only, there’s a good chance that new policies will be put in place to accommodate working from home more consistently.
For retailers online, the past three months have been busy. With everyone at home and with more time on their hands, Digital Commerce 360 reports, “site traffic to the 57 top U.S. marketplaces grew a combined 17% in May compared with May 2019.” Additionally, even stores that have reopened are struggling to do so safely – keeping occupancy maximums, having limited inventory, and closing dressing rooms – all of which deters customers from an in person visit.
With rising cases nationwide experts predict this trend will continue. As more businesses continue to figure out how to improve their online presence and online shopping experiences for customers, brick and mortar stores will pursue emphasizing this shift.
Supply Chain Reconfiguration
Another area heavily impacted by COVID-19 is the supply chain. Many companies were unprepared for the disruption that occurred, causing delays and frustration within their supply chains.
With the demand for e-commerce rising, the need for supply chain reconfiguration rose too. As this article from PCQuest points out, the effects of curbside pickup and online shopping mean companies must adopt technology that supports these new processes. To protect themselves from future disruptions, companies also need to invest in the technology necessary to digitize supply chains.
Essentially, the pandemic exposed our reliance on wireless services and the need to expedite the 5G rollout. As we’ve mentioned many times, the rollout of 5G means cell tower lease owners are in a unique position to take advantage of this opportunity. Yet, many cell tower lease owners are unaware of the goldmines they are sitting on today and are missing out on the chance to earn significantly more in rent.
If you’d like to learn the real value of your cell tower lease, contact us today for a free consultation.