Commonly, cell tower companies are approaching property owners asking them to sign a right of first refusal. Having a right of first refusal would allow a cell tower company the right to purchase their cell tower landlord’s property should the landowner receive an offer from a third party to purchase the property.
Many cell tower companies see this option as a way to prevent their lease from being purchased, but this could have a negative impact on a property owner’s land. It can inhibit the landowner from selling the property and could breach current financing on the property.
Before a property owner signs a right of first refusal agreement, they should seek experts, like Vertical Consultants, to determine the impact of signing such a document. Remember the telecom companies have experts working for them, shouldn’t you?