The proof that self-storage owners are leaving money on the table with regard to new and existing cell-tower leases is reflected in the revenue being derived from the cell-tower companies themselves. In 2011, the largest cell-tower companies generated an average of more than $2 billion in yearly revenue, each from subletting properties like yours.
Self-storage owners have a choice: Be undercompensated for their land or arm themselves with information that allows them to obtain fair value for its use. Whether you’re a self-storage operator with a couple of facilities or dozens, the value of the cell tower on your property is not the steel pole protruding from the ground. It’s the location of that steel pole.
Self-storage owners have options to optimize the rents received under a new lease or increase the value of an existing one. An increase of a few hundred dollars per month in your cell-tower rent can mean not only hundreds of thousands of dollars of additional revenue over the life of your lease but a significant increase in the overall value of your property.Hugh D. Odom is president of Vertical Consultants, a telecommunications-consulting firm currently working with approximately 1,200 self-storage facilities across North America to place telecommunications equipment and optimize existing leases. For more information, call 877.456.7552; visit www.vertical-consultants.com .