Marlborough Revitalization Limited Partnership (Marlborough) owned multiple cells sites and properties throughout the United States and the wireless industry’s growth impacted the cell sites with changes and requirements needed across the properties. Marlborough partnered with TowerPoint to determine maximum value and best options for its multiple cell sites and also entered into the firm’s cell site management program.
Marlborough reached out to TowerPoint seeking assistance on how to optimize its wireless lease for a new Verizon cell site being installed on their property in Maryland. On another property, the owner received a cell site decommission notice from Cricket Wireless.
The TowerPoint Solution
TowerPoint’s team was able to:
• Limit the equipment the tenant could install without paying Marlborough additional rent
• Suggest lease changes that clearly identified a rent commencement date tied to the date the lease was executed
• Clarify Verizon’s obligations to pay any increase in taxes attributable to its activities on the property
• Increase Verizon’s indemnification obligations to better protect the site owner
• Protect Marlborough’s cell site lease regarding decommissioning by advising them on the best course of action and providing them with necessary amendments to the agreement
By working with TowerPoint, Marlborough’s multiple cell sites were protected from tenant changes; the cell site properties values were preserved; and participating in TowerPoint’s cell site management program allowed Marlborough to navigate complex lease terms and identify opportunities to extract new value for their cell sites.