Who Is Eco-Site?
Eco-Site Inc. was formed in 2012 and is based in Durham, North Carolina. Since 2012, Eco-Site has increased its presence in the wireless industry, more particularly in the cell tower development sector. Eco-Site has constructed about 150 cell towers since 2012, and its strongest current relationship remains with T-Mobile. Eco-Site’s goal is to build another 200+ towers in the next couple of years.
Why Eco-Site May Have Contacted You?
If Eco-Site has contacted you, then your property is probably in an area in need of additional wireless coverage or capacity for one of the major wireless carriers, most likely for T-Mobile.
In addition, Eco-Site has probably identified your property as not only a property that will serve one wireless carrier, but multiple carriers in the foreseeable future, as that those additional carriers will be leasing space on the tower-that is how Eco-Site turns a good tower into an excellent one.
What An Eco-Site Offer May Include:
If Eco-Site has contacted you for a cell tower lease agreement, you’ll want to understand their lease objectives. Cell tower lease agreements serve different purposes, with varied rental rates and overall structures based upon need for the tower and viable alternative locations that the cell tower can be built.
The following are a few things you should focus on when presented a cell tower lease offer:
- Don’t Rely On “Market Rents”: The biggest mistake that property owners make is that they try to see what the market rent for a cell tower is in their area. Big Mistake. Every, and we mean every, cell tower site has a different value, and if you can understand that, then you will be able to get maximum rents for the use of your land.
- Focus On Financial Structure and Not Just Rent: Most people are directed by cell tower companies to focus on the rent amount they are being offered, but the rent is just one component of the overall financial structure of a cell tower lease. A cell tower lease is more of a utility agreement than a real estate one, so you need to make sure that how much you are being paid is based upon the value derived from your land and not just the amount of space the cell tower company occupies.
- Think “Big Picture”: While getting the financial structure of a cell tower lease is vital, your understanding of all the terms of a cell tower lease is just as important. A cell tower company is trained to get you to micro-focus on rents rather than focusing on how a cell tower lease impacts you and your overall property, sometimes to the negative. Think big (not small) when you are reviewing any cell tower lease offer.
How Vertical Consultants Can Help You
We believe property owners should be able to maximize rent rates and minimize lease terms and conditions. We want to share our industry knowledge and experience with landowners who have been approached by Eco-Site regarding a cell phone tower lease.
With our experience, we can help you:
- Determine the value of your land to ensure you receive the true value of what your property is worth;
- Review new lease offers for our client to make sure they are protected from conditions and terms that seek to benefit the carrier and not the landowner; and
- Provide guidance and serve as an advocate for our clients to structure any new lease agreement to best protect the landowner and property itself.