Purchasing property with existing cell tower

by Tom
(Ohio)

I would like to know if a cell tower lease expires can it be renewed, we are currently in the process of buying some property with an existing tower and the owner of the property told us he had a fifteen year lease which has expired and he no longer is receiving payments for this tower, can we as new owners renegotiate a lease with the cell company?

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Apr 26, 2010
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Something must be missing.....
by: Tower Genius

Tom,

If a cell tower is still in operation someone must be receiving rent for the tower. When a wireless lease expires a carrier may have had a "hold over" provision in the agreement that will allow them to stay on the property for a year so that they can have time to renegotiate their lease.

If the tower is operating and the owner is not receiving payments, they may have accepted a lump sum payment deal from the tower operator or sold their rights to a tower/lease portfolio firm. If this happened then no, you can't renegotiate the lease agreement.

Cell Tower Lease Agreements usually force a carrier to remove the tower if they no longer wish to operate at a site. Also many town codes force this action as a stipulation of any municipal approval. In the event that the tower owner did abandon the site, and is no longer operational, we would need to see the lease agreement to verify your rights. If the tower was deeded over to the owner at the time of the carriers abandonment then you may have the right to pursue other carriers who may need the site.

If you contact us (fill out a contact form on this site - we will then email you) with a copy of the tower lease and some photos of the tower and equipment area to properly evaluate your situation.



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