Jerry Jones CPA
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Cell Towers On Site

Growing Profits By Leasing To Cell Carriers

By Elizabeth Ferrin

Years ago, Ray McRae, vice president of Storage Solutions answered a phone call that would change the face of his company's holdings, ultimately adding income and increasing the value of his properties. This single conversation marked the beginning of the self-storage professional's successful relationship with the wireless industry and ultimately led to the development of a cell tower at one of his self-storage facilities. Today, his company's portfolio includes self-storage properties that play host to a total of 11 cell sites.

Like McRae, many self-storage owners and operators are open-and even eager-to increasing their monthly cash flow by allowing a cell tower or monopole at their site. However, very few owners ultimately end up signing lease agreement with a carrier. "The average landowner is likely not a candidate for a cell site." says Ken Schmidt, president of Steel in the Air, Inc., a company with assists landowners with the negotiation of leases. "There are more that 2 million parcels in the U.S. of which less than 175,000 have towers. That means there is less than a one percent chance that your site will be chose."

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