I'm looking to see if there is anybody knowledgeable about cell tower leasing on here.
I've got a company trying to effectively "top lease" a tower that is currently on my land and is leased by another company. This new company wants to basically pay me an annual option fee, for lack of a better term, for the right to take over the tower in twenty years after the current lease runs out. I'd been ignoring them for some time because it all sounded a little fishy to me. There is abundant land around the tower and I don't understand why they'd pay a lot of money for the right to have a lease that far off in the future. I also didn't want to encumber the property for any more time in case of future development.
However, after basically ignoring them, they've started throwing around sufficient numbers for me to take interest and at least see if they're on the up and up. Does anyone on here have any experience with this scenario?
Thanks!
I've got a company trying to effectively "top lease" a tower that is currently on my land and is leased by another company. This new company wants to basically pay me an annual option fee, for lack of a better term, for the right to take over the tower in twenty years after the current lease runs out. I'd been ignoring them for some time because it all sounded a little fishy to me. There is abundant land around the tower and I don't understand why they'd pay a lot of money for the right to have a lease that far off in the future. I also didn't want to encumber the property for any more time in case of future development.
However, after basically ignoring them, they've started throwing around sufficient numbers for me to take interest and at least see if they're on the up and up. Does anyone on here have any experience with this scenario?
Thanks!