- Q: What should I do first when a new offer arrives?
A: Collect everything: the offer letter, draft lease, site drawings, and any emails. Build a simple checklist of economics, access, utilities, and control terms to spot gaps fast. - Q: What local facts matter before I counter?
A: Identify nearby alternatives, permitting friction, elevation differences, and utility logistics. If replacement is slow or costly for the tenant, you have leverage. - Q: Do I need a valuation baseline before negotiating?
A: Yes—outline a broad rent range, escalation options, and likely term length for your area. Baselines prevent emotional decisions. - Q: How do I set a negotiation goal?
A: Decide your must-haves (rent floor, escalation, controls) and nice-to-haves. Write them down so you trade deliberately. - Q: Should I talk to neighbors or other owners?
A: You can, but keep specifics private and focus on conditions, not numbers. Your site’s unique facts determine its value. - Q: What documents should I ask for up front?
A: Request the full draft lease, all exhibits, an equipment list, and the construction schedule. Missing exhibits are red flags. - Q: How do I prepare my property team?
A: Loop in your roofer, building engineer, or grounds vendor early for practical constraints. Negotiations move faster when logistics are clear. - Q: Should I get a second opinion on the economics?
A: If the dollars are significant, it helps. A quick model of the rent, escalations, and term puts offers in context. - Q: How do I keep momentum without giving away leverage?
A: Set clear timelines, ask focused questions, and bundle responses. Moving fast doesn’t mean saying yes; pace is a tool, not a concession. - Q: What actually creates leverage in a tower deal?
A: Necessity, scarcity, and logistics. If your site solves a difficult problem with few substitutes, you have power. - Q: Does being ‘on the path’ matter?
A: Yes—corridors, ridgelines, and coverage gaps make certain parcels more valuable. Show why your property works and others don’t. - Q: How do timelines affect leverage?
A: Short deadlines on their side and long permit waits for replacement sites help you. If delay hurts them, your property’s value rises. - Q: Do multiple bidders always improve price?
A: Usually, but only if they’re credible and can actually build. Real alternatives move numbers; noise doesn’t. - Q: Can roof height or ground elevation be quantified as leverage?
A: It can—compare heights, line-of-sight, and obstructions. The more unique your advantage, the firmer your stance should be. - Q: What if the tenant says ‘we have other options’?
A: Ask for specifics—where, how tall, how fast, and with what utilities. Vague threats are just posture; feasibility sets the price. - Q: Does existing infrastructure nearby hurt me?
A: It can if the substitutes are truly comparable. If they require more work or time, your leverage holds. - Q: Can I create leverage mid-negotiation?
A: Yes—tighten exhibits, clarify schedules, and clean up utility paths. Lower their risk and ask for better economic terms in return. - Q: How does co-location potential change leverage?
A: If more users can stack on your site, the revenue pie gets bigger. Make sure the lease lets you share in that upside. - Q: How do I compare two rent offers fairly?
A: Normalize the term, escalations, free months, and start dates. Then, model the cash flow over a realistic horizon. - Q: What’s the fastest way to spot a weak offer?
A: Look for low escalations, long free-rent periods, broad rights, and one-sided termination clauses. - Q: Do signing bonuses fix thin economics?
A: No. One-time cash fades fast compared to the long-term value of escalations and term control. - Q: How should I weigh access and utility terms?
A: Treat them like dollars because they are. Clean routes and dedicated meters save headaches and raise value. - Q: Are CPI escalations better than fixed?
A: It depends on the time horizon and your risk tolerance. Fixed is predictable, CPI hedges against inflation, and hybrids can split the difference. - Q: What’s the risk of long auto-renewals at old numbers?
A: You will under-earn for years. Build in rent resets or make renewals a fresh decision point. - Q: How important are exhibits in an offer?
A: They are critical—maps are better than paragraphs. If exhibits are missing or vague, assume there will be problems later. - Q: Should I price in roof or ground repairs?
A: Yes—if your site needs reinforcement or patching, the economics should reflect it. If the tenant gets the benefit, they should cover the bill. - Q: How do I evaluate tenant termination rights?
A: Broad termination-for-convenience clauses shrink value. Tighten the causes for termination, add notice periods and fees, and require site restoration. - Q: How do I write a strong counter without scaring them off?
A: Be specific: propose revised rent, escalations, milestones, and exhibits. Explain the factual basis for your requests in a short cover note. - Q: What should I trade first?
A: Low-impact items for you that feel significant to them, such as timing tweaks or minor clarifications. Trade small to set up big wins. - Q: Can I anchor high on the rent?
A: Yes, if you can defend it with facts like height, scarcity, timelines, and logistics. An anchor without evidence will be ignored. - Q: What about bundling changes?
A: Bundle related requests (e.g., rent, escalation, and start date) so they can say yes to a coherent package. - Q: Should I include an expiration on my counter?
A: A reasonable window for a response keeps the conversation moving. A deadline focuses attention without being hostile. - Q: How do I respond to ‘our template can’t change’?
A: It can. Ask for the specific clause number and offer your alternative. Most of the time, “can’t” really means “won’t” until you insist. - Q: Is it smart to introduce alternatives mid-negotiation?
A: If they’re real, yes. Credible options recalibrate expectations. Empty threats will only damage trust. - Q: Should I escalate to a decision-maker?
A: If you’re stuck, request a short call with someone who can trade economics for certainty. - Q: Do I counter everything at once or in phases?
A: Phase the big items over a few rounds, but don’t drag it out forever. Show a clear path to a “yes.” - Q: What’s the cleanest way to raise the rent ask?
A: Tie it to your site’s uniqueness and the project timeline—such as height, lack of substitutes, and permit difficulty. Show why a replacement would be slow and costly. - Q: How do I improve escalations without breaking the deal?
A: Offer fixed bumps with a CPI floor, or vice versa. Small changes compound into real money over the life of the lease. - Q: Can I trade an earlier rent start for better economics?
A: Yes—an earlier start with clear milestones can justify stronger escalations or a higher base rent. Time has value, so price it accordingly. - Q: Should I ask for revenue sharing?
A: If co-location or additional equipment is likely, yes. Define the triggers for sharing and include audit rights. - Q: What about rent-free construction periods?
A: Keep them short and tied to milestones. Free time is discounted cash. Be generous with clarity, not months. - Q: Do step-ups at upgrades make sense?
A: They do—more cabinets or heavier gear should trigger more rent. Tie approvals to updated drawings and economics. - Q: How do I handle ‘budget constraints’ arguments?
A: Acknowledge their point and return to the site facts and timelines. Budgets don’t change physics; price the problem you are solving for them. - Q: Is back pay realistic if delays were on their side?
A: Sometimes—use outside dates and start triggers to support it. If the schedule slipped beyond your control, ask for it. - Q: Is a shorter initial term better?
A: Often, yes. Frequent checkpoints let the rent track with market reality. If you accept a long term, pair it with stronger escalations or mid-term resets. - Q: How do I negotiate renewals?
A: Make renewals fresh decisions or include market resets in the lease. Avoid long automatic renewals at old rental rates. - Q: Can I exchange a longer term for better economics?
A: Yes—more time can justify a higher base rent or escalations. Don’t give away duration for free. - Q: Should I use option fees?
A: Perhaps for a modest amount, but focus on rent resets and escalations. Fees are noise; the economics are the signal. - Q: How early should renewal talks start?
A: A year or two before expiration or option dates. Early prep builds leverage and avoids last-minute pressure. - Q: Which control clauses matter most?
A: Access, utilities, equipment changes, assignment, and relocation. These drive the day-to-day operations and future value of the lease. - Q: How do I keep the site from growing without pay?
A: Cap the amount of equipment allowed, require approvals for changes, and tie increases to economics. No free increases in intensity. - Q: What’s a smart approach to assignment rights?
A: Allow reasonable transfers with notice and standards; keep consent rights for transfers to weak buyers. You need to know who is operating on your land. - Q: Should I include relocation rights?
A: If redevelopment of your property is possible, yes—include a clause for relocation at the tenant’s cost with notice. - Q: How strict should access rules be?
A: Strict enough to protect your operations but flexible for emergencies. Define the routes, hours, and any escort requirements. - Q: What about audit rights?
A: Build them into the lease for rent, escalations, and any revenue sharing. Add interest on underpayments. - Q: Do I need confidentiality?
A: Yes—keep the financial terms private and record only a narrow memorandum of lease. Information control is leverage control. - Q: When do buyout offers usually show up?
A: Around new builds, upgrades, or renewals—when cash flow is clearer. Clean documents and strong escalations attract better offers. - Q: How do I benchmark a buyout quickly?
A: Model the after-tax rent with escalations over a conservative time horizon and compare it to the lump sum. If the math doesn’t pencil out, keep the income stream. - Q: Do interest rates matter to buyout pricing?
A: Yes—higher rates increase discount rates and compress offers, especially on average sites. Prime, hard-to-replace locations hold their value better. - Q: Is the biggest mistake chasing the highest base rent?
A: Often—without strong escalations and controls, a big base rent fades in value. Lifetime value is in growth and rights.
