Verizon Tower Lease Renewals and Extensions
Many of Verizon’s leases are managed by tower companies such as American Tower Corporation (ATC). In this situation, ATC would act as the tower manager and negotiate cell tower lease extensions on behalf of Verizon. Any changes to the lease terms outside of pre-approved languages would require ATC to seek approval from Verizon on those changes. These arrangements are not uncommon in the industry as wireless carriers focus more on the engineering and marketing than tower building or lease management.
It is important that your cell tower lease consultant understands the outer limits on what the tower is worth to Verizon in cell coverage and traffic capacity to determine the important terms that must be negotiated in your lease.
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