Cell phone land lease on existing tower from Oncor

4 Replies

Not sure if my situation is the same, but appreciate all input. My office has parking lot in front. Oncor put a tall tower for electricity on a corner of my parking lot (cost 2 spaces for parking). No $ for me from Oncor (they have right of way). But Verizon approached me and ask for lease of the land beneath the tower (about 150 sf) to build a cell (they will take care of landscaping/maintenance)  so they can use the tower (not sure about any deal between Verizon and Oncor). Verizon offers me $4200 per year with 3% increase per year, for 5 year term with 4 more additional terms (total 25 years). What do you think? Too low ?

I develop towers for all of the major carriers.  I could offer you significantly more.  Feel free to contact me if you would like.