renegotiating our cell tower lease

We have been leasing a small parcel of land to a cell tower company for almost 20 yrs.(would prefer not to name cell co.) They had 3 or 4 tenants, but 2 of them are combining, and they are willing to renegotiate a new lease now. They are offering about a $500/00 per month increase with a 25 yr. lease. The monthly rent we are receiving not is 1500.00 and increases 15% every 5 yrs. The problem is that we don't want to give them a 25 yr. lease. How do we know what is fair?

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Aug 02, 2011
Handling the tower companies
by: Tower Genius

The AT&T / T-Mobile merger is not a done deal yet. Your question is still unclear. You wrote "our rent is NOT $1,500 per month", were you trying to say "our rent is ABOUT $1500 per month"??

Regardless we would need a bit more information to determine value. We get tons of calls from property owners who have cell tower tenants like Crown Castle and American Tower who have soon to be expiring cell tower carrier leases. These tower companies need to be able to extend these leases because without the extension they won't be able to attract new subtenants to the site. They also want to secure their position.

We need more information to assist you. I can't tell if getting an extra $500 monthly is fair market value for your area from the information you provided. There usually are antiquated lease terms that you can also change that the older leases did not contain. Don't miss the opportunity to fix the lease when you have the opportunity to renegotiate with them.

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