On January 20th, 2015, nTelos agreed to sell 103 cell towers to Grain Management for an estimated $41 million. The actual sale will close in installments throughout 2015. The agreement represents another step in the recent trend of communication companies, like AT&T, Verizon and Sprint, selling their towers to management companies. The agreement follows huge sales of towers from AT&T to Crown Castle and from Verizon to American Tower.
nTelos Wireless is a regional high speed voice and data company, based out of Waynesboro, Virginia. The company’s territories mainly include Virginia and West Virginia, as well as smaller portions of other surrounding states. They currently have approximately 280,000 retail customers. According to Mike Minnis, the Director of Public Relations at nTelos, the proceeds will be used toward the company’s goals of expanding services in West Virginia and Virginia.
While this transaction will not have an effect on nTelos’ wireless subscribers, tower owners may see repercussions. If you own property where a nTelos tower is located, Grain Management may soon be operating and maintaining that tower on your property. Often times with the changing hands of towers, the new tenant desires additional amendments to the agreement. For example, many landowners who had AT&T towers sold to Crown Castle have been presented with cell tower lease extensions through 2099! If Grain Management contacts you in regards to an amendment, call Vertical Consultants today for a free consultation and advice on how to proceed with these discussions.
Many of nTelos’ sites are coming close to their expiration date, including sites that may have been sold to Grain Management. Landowners have an incredible opportunity to negotiate new agreements on these sites, whether with nTelos or with another tower company. If you have an agreement due to expire in the next several years, then please contact Vertical Consultants for more information on how one of our cellular tower leasing experts can put some extra money in your pocket. Last year we increased our clients’ rents by an average amount of 322%, and we may be able to do the same for you!
Grain Management is a private equity firm with a unique focus towards investments, both telecommunications and media investments. The firm has also been heavily involved with the acquisition, construction, and operation of wireless network infrastructure throughout the United States. They have offices in Washington, D.C. and Sarasota, Florida, and are managed by David Grain.
Call today for your free consultation and for more information on how industry transactions like this might affect you.
In 2016, Vertical Consultants averaged an immediate 322% increase in rents being received by its clients, and since 2010, has been able to assist its clients in the recovery of over 300 years worth of combined underpaid, and, in some cases, unpaid rents and other expenses that were rightfully due to these property owners located throughout North America.
To learn more about our services, visit https://www.celltowerleaseexperts.com or contact Vertical Consultants at info(at)vertical-consultants(dot)com or 877.456.7552.