Nov 01, 2022 - 03:20 AM
Generally, American Tower (or other tower companies) rarely make offers that aren't to their advantage. By pitching this nearly ten years before the lease expiration, American Tower is hoping to stop two things from happening.
1. You selling your lease to another company that would then negotiate better terms before 2031
2. You waiting until closer to the lease expiration to negotiate when they are up against the clock
In most cases, I wouldn't recommend giving this right up. American Tower may have legitimate reasons for asking. For example, it typically takes longer if the landowner is involved in approving a collocation. However, they also may be trying to slip something by you. They may be asking because they have a planned collocation and don't want to have to ask for your consent- which depending upon your lease, may require additional compensation.
It's hard to know their objectives in your specific situation without reviewing the location and lease. Perhaps this is a decent deal- but I doubt it. We rarely end up finding that the first offer from the tower company is one worth taking. If you want to know more- see our page on cell tower lease expirations and extensions.