Global Signal recently purchased through a long term lease 6000+ cell phone towers from Sprint PCS. In response to these transactions, Global Signal has approached landowners requesting that they sell out the interest in the ground lease for the cell phone tower to Global Signal in return for a lump sum payment and a assignment of lease.
Global Signal is paying pretty decent rates for the purchase of the easements at first glance. They provide a nice offer that typically exceeds what other cell site lease purchase companies are willing to offer for a ground lease easement.
These offers do not come without pitfalls that landowners should be aware of before they come to an agreement. Global Signal has the owner sign an easement purchase agreement contract but does not provide a copy of the actual easement to be signed. Landowners who receive the actual easement after they have signed the agreement are sometimes shocked to see what Global Signal has included within this “easement”.
The point is that before you agree to sell your cell phone tower ground lease, ask for a copy of the easement that you will be signing. If you have questions about how this easement impacts you, consult with your attorney. If you have questions about how much money the purchase should be worth or about technical issues in the easement agreement- please contact Steel in the Air.
GLOBAL SIGNAL and SPRINT PCS are trademarks of Global Signal and Sprint PCS respectively. Steel in the Air has no affiliation with either company.
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