Industrial Park in Memphis to Welcome a Cell Tower to its Landscape

A deal with a tower company to build a new cell tower has been agreed to by the Port Commission in Shelby County. The proposed cell tower is to be constructed at an Industrial Park, in which profits produced would be divided between the Shelby County Port Commission and the owners of the Industrial Park. Regarding the tower income stream, “If three companies utilized the system, as expected, the commission would get $37,900 a year. A maximum of four companies could use it, giving $50,000 annually,” states the Memphis Business Journal.

At this point, it is important that the commission and the owners of the industrial park seek counsel prior to signing any agreement with the tower company. They must make sure they find out the true value for the use of their land, not only rental amount, but also any revenue sharing produced from co-locator income. Too many landowners are being paid below-market value for the use of their property. Representation is key!

(http://www.bizjournals.com/memphis/blog/morning_call/2013/06/memphis-port-authority-approves-cell.html)

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