|By Business Wire||
|March 5, 2013 07:39 PM EST||
Cell site landlord advocate Tower Seekers is warning Nextel cell site landlords to use care in handling the lease termination and site decommissioning process. Mike Ritter, President of Carlsbad, CA-based Tower Seekers, urges landlords to check the facts presented by those representing Nextel and avoid succumbing to pressure to quickly sign the proposed agreement and general release.
“The lease termination agreement and general release significantly alter the original lease terms in Nextel’s favor,” said Mr. Ritter. Tower Seekers represents cell site landlords and specializes in assisting churches. “It releases Nextel from all responsibility after the lease is terminated.”
In addition, landlords are being advised by Nextel representatives to leave the existing site infrastructure. “Landlords may assume significant risk by allowing Nextel to leave its gear on their property. It has little or no value to a future cell company tenant,” he said. Ritter has checked with cell site construction companies and other cell companies to verify the obsolescence of the gear. “The landlord is left with the site, no prospect of future use plus the liability and expense to maintain or remove it,” he said.
Ritter’s advice to landlords is to first review the original lease and then gain a full understanding of the site infrastructure. Next, he says to understand each option available to the landlord. “Full decommissioning under the original lease may be the best option,” said Ritter. Landlords can get a free lease review from Tower Seekers to better understand its options and risks. In some cases, landlords may need legal counsel to understand their rights.
About Tower Seekers:
Tower Seekers (www.towerseekers.com) is a Carlsbad, CA-based firm representing cell site landlords and specializing in assisting churches and non-profit organizations. Tower Seekers offers consulting and site management services and has represented hundreds of clients since 2006. All landlords get a free lease review.