SecureCare Self Storage Inc. recently renegotiated its cell-tower lease agreement with Verizon Communications Inc., the largest wireless telecom provider in North America. As a result, the company will recover unpaid cell-tower rent dating back to 2006. SecureCare leases space to Verizon for the occupancy and use of cell-tower facilities at its Wilmington, N.C., property.
The company hired Vertical Consultants last year to review and provide counsel regarding its cell-tower and roof-top leases associated with its properties. Vertical Consultants helps companies maximize the value of its clients’ telecom-lease assets. After reviewing the Verizon lease and the tower site, Vertical Consultants discovered Verizon’s undeclared and unauthorized use of additional space at the property.
“We were not only able to reach an agreement with Verizon that led to a recovery of unpaid rent, but also renegotiated the existing lease,” said Hugh Odom, president of Vertical Consultants.
“For the last four decades, the telecom companies continued to rely upon the lack of information a property owner has access to when it enters into a cell-tower lease, or any other type of telecom lease,” Odom added. “Our mission is to level the playing field and make sure property owners at all levels get true and accurate value for the use of their property.”
Vertical Consultant helps property owners become aware of cell-tower options and opportunities, which most are not aware of and can date back several years in existing leases. “Our primary mission is to change the way things are done in the wireless industry,” Odom said.
Founded in 2010 by Odom, Vertical Consultants is comprised of a group of wireless industry veterans with more than 40 years of combined experience. The company specializes in all aspects of the wireless-telecom industry, including telecom-site acquisition and development, lease negotiation, and the legal issues surrounding such transactions.
Founded in 1988, SecurCare Self Storage Inc. is a privately-owned company based in Lone Tree, Colo. The company has 135 facilities in 11 states.