Our firm is currently deploying new sites nationwide and looking to partner with park owners to potentially build on your property. This is a great way to produce additional long-term, passive income on your property.
Our goal is to find interested owners who we can walk through the process, understand and address any concerns today, confirm any property limitations (including your aesthetic requirements), and validate if this is really something of interest.
If anyone has any questions, please feel free to ask and would be happy to open additional topics to address those.
Definitely something I’ll be interested in in the future. I book marked this post for future reference. I’m sure I’m not the only one interested either. Would you mind letting us know some of your requirements on the front end?
Dominic, thanks for the reply. A lot will vary based on the local zoning and permitting requirements: setback, height restrictions, collocation on existing structures, disguised (fake palm tree),etc. but from a leasing perspective on a “macro” tower (typically 90+ ft height), we usually will target between 1,000 to 3,000 sq ft and an easement access. We have gone with smaller footprints, but that could limit a carriers ability to house all necessary and future equipment and will vary on a case by case basis and what the carrier is trying to accomplish from a coverage perspective.
In a dense market, we may use alternative “medium cell” towers which have a much smaller footprint (height can vary between 20 ft to 90 ft). These can be smaller poles or even light fixtures.
Just as important is understanding what limitations the property owner may have: location on their property, access easement location, future plans for additional pads/clubhouse/laundry room, to name a few.
Noel, you asked the question I’m sure is on everyone’s mind. It really varies, but can range from $350 up to $2,100 per month with an annual escalator. In dense, core markets, you will see higher rents, but we don’t necessarily build actual towers in those markets as we need to bring the equipment close to the user using antenna mounting which has a different pricing method. Zoning restriction, tower proforma vacancy (ability to attract AT&T, Verizon and T-Mobile), demographic strength and growth, population density, and other factors are taken into account.
I’ll shoot you an email and happy to tell you more detail and what other structures we use to compensate property owners.
That’s a good question. We rely on local, state and federal mandates to provide guidance and set standards on where and how we can build sites. As a team we have been involved in over 5,000 sites nationwide over the last 20+ years and haven’t come across any issues that we know of. We work with all stakeholders to try to find a balance that brings this necessary service that’s become similar to a utility and is further integrated with public safety (FirstNet / E911).
Once your tower is in place and you attract another company to share your tower (AT&T, Verizon, T-Mobile) since you charge them a fee to use your tower how much does your compensation to the land owner increase.
We own a variety of properties in core markets here in North and South Carolina in places where cell towers would be permitted. We’d love to talk with you about where you’re looking and how we can help. Email me jake@stonegatedevelopers.com. Thanks!