I have a 37 acre park in Leesvillw, Louisiana. It is currently empty as it needs some redevelopment and repairs. I would be very interested in leaving space to you if the park location qualifies. Do not hesitate to contact me if interested.
I sent you a PM. Thank you.
Although the income from having a tower in your park looks good on the bottom line… keep in mind that contracts are often perpetual contracts and any potential buyers on your park may not be fond of the idea of a tower on the property. It could impact your exit strategy.
I would be happy to consider this. We have parks in Minnesota. Washington and Montana you can reach us at Mhpcompanies@gmail.com
I am interested. Thanks!
Jsmith, typically tower companies and wireless service providers negotiate long-term leases (30-50 years). Perpetual contracts are negotiated, but that usually means purchasing the land in fee from the owner or and easement buyout and it really on a deal by deal basis if a property owner has a better use for a lump sum. Being these sites are seen as “critical” in nature, removing the risk of service being cutoff or the site forced down due to a property owner having a change of heart is important.
That being said, if an owner really wants the site gone, a transaction can be structured, but will require an alternative site being identified and going through the entitlement process plus some type of buyout or capital contribution from the property owner. You make a great point that the income is fantastic, but this is a long term relationship that is being formed.
Because the assets themselves are usually triple-net leases and the tenants are highly rated publicly traded firms, they do carry significant value, in some cases trading at much more aggressive cap rates than the underlying property for an easement buyout. We’ve seen easements trade consistently in the 6%-8% range recently, even lower for certain sites. Interestingly, most of our easement transactions have been with buyers themselves, who use proceeds for capital improvements without coming out of pocket or 1031 in other acquisition opportunities.
Kris, we’ve been a bit backed up, but reaching back out to everyone who has responded.
Would like some info for possible tower locations in central Louisiana.
I’m also interested in learning more.
Interested, have 6 parks in Tennessee
I am very interested in your Cell Tower on my park. Im in Southwest Oregon. Have GREAT DAY.