Course Description
Learn about the key aspects of cell tower leases and the sales of such leases.
The wireless industry has built more than 300,000 cell sites in the United States in the past 20 years. But many more cell sites are needed as iPhones, iPads, Droids and the like strain existing network capacity. More cell sites, each serving smaller areas, are needed to meet the goal of using wireless to increase broadbands reach and speed. At the same time, tower management companies are offering to buy existing larger cell site leases and future leasing rights for large sums of money. This topic helps level the playing field by providing private and municipal property owners and their counsel with the expertise of two faculty members highly experienced in cell tower leases and sales. It helps bridge the knowledge gap between property owners and their counsel who may only infrequently negotiate cell site leases against the wireless industry lawyers who work exclusively on such matters. The information will focus on key business issues in wireless site leases, including lease rates, who gets the revenues from additional antennas or carriers being colocated at a site, major rent increases for renewals and avoiding lease terms which can restrict or prevent an owners use or development of its own property or trigger a mortgage default. It will address the sale of cell leases and future leasing rights, including typical sale prices, when to sell, when it is generally not advisable to sell, how to get the best price and terms in a sale, and avoiding provisions that restrict the use or development of the underlying property. You will be better able to identify and resolve issues that are unique to wireless leases and sales, including what municipalities can include in a lease that cannot be included in a government issued permit, site location and value, options on selling a lease, lease term and terminations, access requirements, interference regulation and mitigation, design and camouflage, and radio frequency emissions issues.
Agenda
Lease Rates, Rent Increases, and Adding Revenues If Others Build on the Tower
How Rents May Be Increased at Lease Renewal, and How to Avoid Giving Away Those Increases
Key Lease Terms, Spotting and Avoiding Lease Terms Which Limit or Prevent the Owner's Use and Development of the Rest of the Property
Why Leases for Cell Sites on Buildings Are More Complicated Than Leases for Stand-Alone Towers, What Different Lease Terms Are Needed
Selling Your Cell Tower Leases and Future Leasing Rights, Typical Sales Prices, When and When Not to Sell
Getting a Good Price for Your Lease, and Key Lease Sale Terms and Legal Considerations
Issues Unique to Cities and Local Units of Government on Cell Leases, and Sales of Cell Leases
Lease and Sale Provisions Allowing the Property Owner to Relocate the Tower, If Necessary
Camouflage Options for Property Owners to Protect the Value of Their Property
Backup Power and Generators, Key Issues and Concerns
Insurance and Indemnity Provisions to Protect the Property Owner
Restrictions on Changes in Who Owns the Tower to Protect the Property Owner
Protecting the Owner If the Tower Owner or Buyout Company Goes Bankrupt
Audience
This live webinar is designed for attorneys, planners, directors of development, project managers, government administrators, council and board members, land use officials, public works and utilities directors, municipal government officials, engineers, surveyors and real estate professionals.