Cell tower leases generate thousands of dollars per year in rent, and usually sell for 15 to 20 times annual revenues — sometimes for $500,000 to over $1 million. As the wireless industry continues to expand, the race is on for existing and future cell tower leasing rights. Tower management companies have teams of lawyers who work exclusively on such matters, but private and municipal property owners are generally negotiating such leases for the first and only time.
To help level the playing field, Varnum cell tower attorney John Pestle has teamed up with Lorman Seminars to offer a 90-minute live webinar on negotiating leases and how to sell such leases and future leasing rights for the best price, while avoiding lease requirements that can hurt the future use and development of the property. The webinar, Current Issues in Cell Tower Leasing, is being offered live on June 7, with an option to purchase a recording of the seminar for later listening. The following link can be used to register, and will also automatically save registrants 50 percent of the standard pricing: http://www.lorman.com/402858?discount_code=P2898298&p=13389.
For 22 years, Pestle has represented property owners such as real estate companies, schools and municipalities on cell tower leases and sales. He has helped clients sell over 85 cell tower leases, with the price per lease ranging from a few hundred thousand dollars to well over $1 million.
“In leases and lease sales, as important as the dollars is making sure the lease or sale does not hurt the property owner’s future use and development of the property,” Pestle said. “This is especially true for cell antennas on buildings or municipal water towers.”
Current Issues in Cell Tower Leasing focuses on key business issues in wireless site leases, including lease rates, who gets the revenues from additional antennas or carriers being co-located at a site, major rent increases for renewals and avoiding lease terms which can restrict or prevent an owner’s use or development of its own property or trigger a mortgage default.
It also addresses the sale of cell leases and future leasing rights, including typical sale prices, when to sell, when it is generally not advisable to sell, how to get the best price and terms in a sale, and avoiding provisions that restrict the use or development of the underlying property.
More information and registration is available at http://www.lorman.com/402858?discount_code=P2898298&p=13389.