Recently T-Mobile relinquished control of over 7000 cell towers throughout the United States. This question remains: how does the recent transaction affect property owners currently leasing land where these towers reside is.
Landlords are being contacted by the tower company now controlling these sites to either sell their lease or to extend their lease long term and here’s why: The purpose of these tower have changed with the new company controlling them. T-Mobile’s purpose was to simply locate their equipment on the towers. Now, the purpose of each tower site is to have as may subtenants on a landlord’s property as possible. To fulfill this purpose and to justify the 2.5 billion dollars spent to acquire control of these towers, the cell tower leases associate with each tower must be secured.
If you are a T-Mobile cell tower landlord, review your lease to understand your rights and obligations under the agreement. Also, before selling or extending the lease know the value of that agreement is not tied to the rent you are receiving but the value of that site to the tower company. Finally, be fully aware of any new agreements or documents you sign.
