Commnet Wireless, a subsidiary of ATN International (NASDAQ: ATNI), has entered into a $167.5M agreement with AT&T to build AT&T’s First Responder Network Authority (FirstNet) in the Southwest of the United States.
If AT&T locates their equipment on a Commnet tower, both parties will enter into a lease agreement with an initial term of eight years, with an option to renew for seven additional five-year terms. Although it is not confirmed, typically in the industry the initial term of eight years is guaranteed rent payable to Commnet.
For the build out of new towers, Commnet will build the tower and lease the ground and will assign both the tower and the lease to AT&T once the site has been constructed. Commnet will then provide maintenance for the tower for an initial term of ten years, with five successive three-year renewal terms, unless either party gives notice of non-renewal.
According to rrmediagroup, the agreement was disclosed in a Commnet SEC filing. In AT&T’s SEC filing they said they have total reimbursements from the government for FirstNet during the first six months of $134M for 2019 and $336 million for 2018.
Have You Been Contacted By Commnet?
If you have been contacted to lease your land by Commnet or AT&T, give us a call today to discuss the value of your cell tower lease.
Call Us Today!
(888) 443-5101
Related Articles
4 Comments
Leave a Comment
About Nick G. Foster
Since founding Airwave Advisors® in 2014, Mr. Foster has added value to over 400 clients ranging from the State of Nevada, City of Beverly Hills, to Habitat For Humanity. Mr. Foster focuses on cell tower lease renewals, buyouts, new lease negotiation, and cell site lease management. Prior to starting Airwave Advisors® Mr. Foster founded and led the Cell Site Services Group within nationwide commercial real estate services leader Cassidy Turley (now known as Cushman & Wakefield).
Too late; My dad has already signed a contract. They took him for a ride ! Offered us no free landline/cel service or internet. No additional income if other companies add on. Minimum offer. I’m totally against this and my brother and I will inherit the land.
Hi Dana,
Sorry to hear your dad signed the contract. This is why it is important that all property owners get help by someone such as Airwave Advisors prior to signing and making mistakes.
Nick G. Foster
I have a great site for a location in Forsyth County near Winston Salem and Wallburg, 2184 Stone Ridge Pl. Winston Salem, 27107 near Union Cross Rd. and Sawmill Road on the north side of Union Cross Rd. All Woods, rolling terrain.
Hi Dale,
Please check out our article, “How Do I Get A Cell Tower” to learn more.
All the best,
Nick G. Foster