Cell Site Lease Renewals and Extensions
If you have a cell site lease originally signed prior to 1990, you should expect your tenant to contact you soon to renew or extend the lease. Most leases have a term not to exceed 25 to 30 years so those leases starting in the late 1980s are reaching their expiration date. The oldest leases date back to the mid-80s when the first cell sites were built on leased property.
Some tenants have already been out talking to their landlords about extending even when the lease is not coming up for renewal. See "A Landlord Asks: Should I Accept a Lease Extension Offer". Landlords should exercise care in addressing these making sure to get all the facts before agreeing to an extension. There should also be adequate consideration recevied for long-term extenstions.
When the lease is expiring, the landlord needs to assess its situation. Only through a careful lease review and on-site audit can the fair value of the lease be ascertained. A site visit is required to fully understand and evaluate the landlords strengths and weaknesses in negotiating a lease renewal. Consultants and attorneys representing landlords rarely take the time or have the abiltiy to make the necessary visit to the cell site.
In every lease renewal, we visit our client's site and discuss our findings with the landlord. We carefully review the lease and amendments and make recommendations for action. All this is done FREE OF CHARGE. If the landlord seeks representation, we have all we need to seek the best lease renewal terms.
In California, Tower Seekers clients get the benefit of years of experience plus the unmatched skills of a California licensed telecom/real estate attorney and a California licensed real estate broker.