Lease Buyout or Extension
I inherited a parcel of property in South Texas with a Crown Castle tower on it. Both Sprint and AT&T are carriers on the tower. Immediately after inheriting the property, Crown Castle approached me with a perpetual lease buyout in the amount of $77K. Naturally, I turned it down. They returned with a 40 year lease extension offer increasing the lease from $529 a month to $640 a month and a small signing bonus. Which I, again, turned down. That was three years ago. Since then, the area has blown up with the introduction of the Eagle-Ford Shale oil & gas boom. Unison, recently approached me with a $66K buyout offer on the current lease and 50/50 terms of any additional tenants added and 50/50 terms of any additional negotiated lease extentions with Crown Castle. Somehow, I don't think their heart is really in it, yet. Any advise?
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