Jul 21, 2017 - 06:43 AM
Charles, Sounds like you have a desirable site even though AT&T terminated previously. It is possible that AT&T wants to come back and that the other companies know this. Alternatively, another carrier is interested in the location and perhaps the parcel is now zoned for a tower or would be easier to get reapproved than other parcels. Without looking at it further though, really can't tell you how best to proceed. I would definitely not agree to a 3-year option unless it has a right of first refusal in it- where if another party wants to lease the property, they have to either commence the lease or let you lease it to someone else. As to selling the property, it would depend upon the purchase offer and whether it includes the present value of future lease payments for the tower.
This is one I think you should contact about and we can look at it further and see if it makes sense for you to retain us to review it.