ATC wants to buyout our tower lease, how do I know how much to settle for?
We have a 25 year lease with Verizon, now ATC. The lease started in 2013 for $500/mo and goes up by 3% every 5yrs (total lease worth180K). ATC wants to buyout our lease for 100K (divided over 4 years). We want to pay off our mortgage early so we are interested in doing the buyout. Can you tell me how much we should settle for, is $100K enough? and can we still ask ATC to continue paying the land taxes annually? Also, will we still be able to re-negotiate with them in the 25th year. I want to ensure that they will be responsible for either taking down the tower and/or paying us if they keep the tower up past 25yrs. Currently the tower is located in SW MN and only have Verizon utilizing the tower. It is a 309' tower. and they are leasing a 100' x 100' land space from us.
Status: Open Aug 10, 2016 - 08:00 AM
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