I'm not sure if this is the proper fourm or not. I did a search and could not find anything. I was wondering if anyone has had any experience dealing with leasing/selling land to a cell phone company for use to put a tower on. I have two seperate residental pieces that I have in mind. One is land locked (which was deeded to me) and I have no use for it, it is land locked. Any info on this would be helpful. Thanks.
I saw your thread and thought I would offer a little insight into your situation. For the past 10 years I have developed towers for all of the major carriers on a national level, although predominantly in the Midwest.
Unfortunately there is a very slim, and I mean slim, chance that you are going to be able to approach a carrier (AT&T, Sprint, T-Mobile, Verizon, Etc.) or a tower company (ATC, Crown, Etc.), detail your property location, and get them interested in leasing the property for a tower. Unfortunately that is not how they work.
Before a tower is ever built, a need for coverage has to exist. Even if service is horrible in your particular location, that doesn't always translate into a "need." Carriers, like any other business consider the ROI, current CapEx budget, etc. Assuming that a carrier does need a site in your area they will (1) analyze their coverage need and select a very specific tower location and (2) deploy a real estate team to secure the ground and construct the tower at that specific location. If you do not have a very specific type of property (coverage need exists, meets coverage objectives, able to be zoned/permitted, and you are a willing landlord) you will not be considered.
I certainly don't want to discourage you, but also wanted to give you an idea of what you are up against.
My dad has a cell lease on a landlocked parcel. The only pitfall that took some tiem and work was obtaining approval from a neighbor to obtain an easement or right of way through their property in order to make the roadway to access the site. Generally the cell service company approaches the neighboring property owners and makes them an offer for the easement. I myself have a cell site on an existing residential apartment building. That's a more difficult lease to obtain (City restrictions). If I can help you in any way, let me know
I saw your thread and thought I would offer a little insight into your situation. For the past 10 years I have developed towers for all of the major carriers on a national level, although predominantly in the Midwest.
Unfortunately there is a very slim, and I mean slim, chance that you are going to be able to approach a carrier (AT&T, Sprint, T-Mobile, Verizon, Etc.) or a tower company (ATC, Crown, Etc.), detail your property location, and get them interested in leasing the property for a tower. Unfortunately that is not how they work.
Before a tower is ever built, a need for coverage has to exist. Even if service is horrible in your particular location, that doesn't always translate into a "need." Carriers, like any other business consider the ROI, current CapEx budget, etc. Assuming that a carrier does need a site in your area they will (1) analyze their coverage need and select a very specific tower location and (2) deploy a real estate team to secure the ground and construct the tower at that specific location. If you do not have a very specific type of property (coverage need exists, meets coverage objectives, able to be zoned/permitted, and you are a willing landlord) you will not be considered.
I certainly don't want to discourage you, but also wanted to give you an idea of what you are up against.
@William Jenkins Judging by your detailed response you may be a decent person to ask. I am reviewing a commercial property that has a cell tower where the owner is receiving roughly $500/month from the carrier. The tower is obviously on his parcel where he operates the other business.
He states he's had offers from the carrier to buy him out. Just curious what that buyout would look like or how these companies value buy-outs?