Verizon has reached an agreement to sell over 11,000 of its wireless towers to American Tower, one of the leading tower companies in the U.S., for 5.056 billion dollars.
The transaction will have an enormous impact on property owners who have existing Verizon leases on their property. Here are just some of the ways things you should look out for:
- Telecom vs. Real Estate Company: American Tower is essentially a real estate company looking to lease space, compared to Verizon whose focus is on serving wireless customers. As a result, how the tower site is valued will change, as well as how you should structure your lease going forward.
- Do Not Sign Anything!!!: Property owners should expect to be contacted by American Tower in the very near future. Beware, you will be asked to sign documentation waiving certain rights that you currently have under your lease-Do not do it without understanding everything you are being asked to agree to. Sometimes things that look harmless can be the most painful down the line.
- Time Is Gold: In the near future, American Tower will put on the pressure to add time to your current lease, especially the ones with less than 5 years remaining. American Tower needs to both secure their investment and acquire time so they can sublease space on the tower. Time is gold to American Tower.
- Do Not Sell Your Lease!!!: You probably are already being bombarded by companies looking to buy your cell tower lease and it is about to get worse because the best way for American Tower to secure their investment is to get you to sell your lease to them.
Vertical Consultants has made its mission to work to get our clients the best cell site lease possible, and our results speak for themselves. In 2014, we averaged an immediate 338% increase in rents for our clients.
The cell tower companies have experts on their side, shouldn’t you????
Contact us today for a free review of your lease and follow-up consultation.
Contact us at [email protected] or by phone at 877-456-75