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From 2012-2015, major cell tower companies like American Tower and Crown Castle acquired carrier portfolios from T-Mobile, Verizon, and AT&T. These acquisitions established Crown Castle and American Tower as industry leaders, with SBA Communications trailing in third place in terms of tower count.  The last 18 months have been uneventful for cell

Mr. and Mrs. Smith were offered the opportunity to have a tower built on their unused land by a tower developer. Excited about the potential to generate income, they engaged with the developer and signed a contract without consulting industry experts or attorneys. This oversight led to critical provisions in

Negotiating a cell tower contract can be daunting, especially for those not familiar with the industry. There are numerous nuances and considerations that may go overlooked without industry knowledge. Despite this, some property owners attempt negotiations themselves, underestimating the complexities involved. However, rather than navigating legal documents and negotiations alone,

I always advise property owners against agreeing to a Right of First Refusal (ROFR) in their cell tower lease. However, if a renegotiation necessitates it due to a significant rent increase, consider factoring that into negotiations. Typically, owners who don’t plan on selling their ground lease opt for ROFRs, but

During discussions on tower companies’ full-year 2023 earnings, several key points emerged. The reduction in spending by carriers had a widespread impact across the telecom industry, leading to workforce cuts for many companies. This sheds light on the cautious investment approach of these companies in the current US market. Crown

In this blog post, I’ll be assessing key ground metrics of the two largest publicly traded tower companies in the United States. Securing control over the land beneath your tower assets is paramount. Extending the lease expiration dates of these sites as much as feasible is the primary goal for

As we step into 2024, major tower companies have seen their stock prices dip slightly after a strong rebound towards the end of 2023. What do these fluctuations signify in the market? Tower operators are seeking ways to compensate for reduced carrier spending, one strategy being negotiating rent reductions with

Market capitalization at the start of 2015 CCI – ~26.15B ATC – ~39.14B SBA – ~14.28B Market capitalization today CCI – ~46.83B ATC – ~95.04B SBA – ~24.91B Market capitalization growth rate CCI – ~79.08% ATC – ~142.82% SBA – ~74.44% Since 2015, American Tower has consistently led in growing

If you’re a property owner with 5 years left on your lease and the cell tower operator contacts you for an extension or buyout, it’s important to weigh your options. However, you quickly pivot to no buyout as you want to keep the monthly lease payments for a myriad of

When a site acquisition specialist reaches out to you regarding the possibility of a cell tower being built on your property, it doesn’t mean you are the only option.  In many cases these specialists are securing options for all neighboring property owners within the search ring they are working for