Crown Castle purchased the rights to over 7,200 T-Mobile cell towers. Each T-Mobile tower site hosts approximately 1½ tenants; thereby, leaving enormous growth opportunities for Crown Castle.
Crown Castle’s Plans for T-Mobile: In order to secure long-term rights for T-Mobile towers, Crown Castle has taken an aggressive approach with offers to extend existing leases or lease buyouts. Crown Castle is making offers that are lower than the actual value for the utilization of the property.
Features of T-Mobile Leases: On average, a T-Mobile cell site lease will have significantly fewer terms remaining than the typical Crown Castle lease, and less than 2 tenants per tower site. Crown Castle’s objective is to convince as many property owners as possible to sign long-term lease agreements in the shortest amount of time. The first step in obtaining additional tenants on the tower starts with T-Mobile’s 7200 cell tower sites
Crown Castle’s Recent Activity: In 2015, Crown Castle extended 1000+ tower leases, and obtained over 800 leases resulting from their lease buyout program. Crown Castle will control the land on which 65% of their towers reside, with an average of 29 years remaining on the leases. Similarly, Crown Castle will continue to seek control with the T-Mobile sites acquired recently.
The question is, “What will you do next?”
If you have been contact by Crown Castle, call us today! We will review your lease and tower site to determine your options and how to optimize your lease!