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Kurtis from Indiana- Crown Castle tower lease renegotiation and lease buyout evaluation
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CTI Towers: Comcast's Separate Tower Division
In late 2011, Comcast Corporation spun off 800 or so towers located in 39 states to a newly formed company CTI Towers, Inc. The towers were previously managed by the individual cable systems that make up Comcast. According to Comcast's September 2011 press release, the justification of the formation of the new tower division is that by moving them to one company with centralized management, the towers could be better marketed and operating efficiencies could be realized. The 800 towers were primarily towers used in Comcast's cable TV business that, due to technological advancements in fiber optics, are not needed anymore for cable operations. Below is a map of the CTI Towers taken from their website. Please note that Steel in the Air, Inc. is not affiliated with CTI Towers or Comcast. If you have found this website while searching for CTI Towers or Comcast, please redirect your browser to www.ctitowers.com or www.comcast.com.
Recently, ground lessors with leases with CTI Tower sites on their property have been contacted by representatives from the newly-formed cell tower company. These representatives have been attempting to extend the underlying ground leases for the towers or make other modifications to the leases. Steel in the Air believes that CTI Towers was formed so that the towers could be aggregated and sold to one of the large tower companies eventually. Whether CTI Towers intends to try to “lease-up” or add more tenants to the towers before selling, only time will tell. From a landowner standpoint, some of these towers are very valuable to CTI Towers and others may be almost worthless. Thus, it is crucial that you understand the value of your specific tower before trying to negotiate an amendment or a lease extension.
Steel in the Air can assist you in evaluating the current value of the tower on your property and the potential future value of the tower to CTI Towers - whether they keep the towers or they sell them. Please contact us for a free no-obligation initial discussion and we will review your property and tower and let you know whether we think it is worth your time to retain us. If so, we will also provide a quote for services. If not, we will tell you that there is limited value to your facility and provide a recommendation on how best to move forward. Whatever you do, please don't blindly sign documents that CTI Towers (or any wireless company or tower company) puts in front of you.