The growing use of wireless mobile devices-smartphones, tablets, and even wearable technology-continues to explode, and, as a result, wireless carriers are feeling the pressure to provide their customers more wireless network capacity. As a result, more cell sites are being built and existing ones are becoming more valuable.
The telecom boom presents a great opportunity for shopping center owners to secure new leases and maximize the value of any existing agreements they presently have in place. Shopping centers provide a unique situation for telecom companies as a combination of both an optimal location and demographics.
Whether you already have a cell site lease in place, are being approached by a telecom company, or if you want to attract new or additional tenants to your properties, Vertical Consultants can help you with your needs, and we get our clients unmatched results.
Shopping Centers – Cell Site Lease Consulting Services
Here are a few important facts that you should consider:
- A cell site lease is unlike most agreements that a shopping center owner may enter into in that a standard cell site lease is long-term, and, if not correctly structured, contains limited opportunities to re-enter and renegotiate. As a result, a shopping center owner needs a short and long-term strategy to get the most value from a cell site agreement.
- The biggest mistake shopping center owners often make is that because they are in the real estate business, they continue to track the elusive “market rent” figures when determining how much rent a wireless carrier or tower company should pay for the use of their land. However, to be clear, “market rent” should not exist when it comes to negotiating a cell site lease. Simply put, every cell site has its own individual value.
– David, Landvest Corp.
- While maximizing the value of a cell site is critical, a shopping center owner should recognize that a cell site lease, if not structured correctly, can have a negative impact on its property’s future use, redevelopment, financing, etc. Ensuring that a cell site lease is structured so as to retain the flexibility landowners need to continue to maximize value of their property is as critical as optimizing the value of their cell site lease.
Vertical Consultants provides guidance to your company as you go through the process of interpreting the terms of any agreement, whether that is a current cell site lease or a proposed agreement for your property.
Call today for your free consultation and for more information how to maximize the value of your lease and minimize the impact any lease will have on your property.