| Massive development has occurred in the cellular | | | | changed from "best location" to "multiple location" |
| market over the past quarter century. Beginning its life | | | | technology. |
| as a gadget that only the elite could afford, the cell | | | | Because of this positive change in technology, |
| phone has become a basic commodity for everyone | | | | networks no longer need to concentrate on finding the |
| in all walks of life. This transition couldn't have taken | | | | so-called "ideal" locations for cell sites and cell towers. |
| place without the global growth of wireless networks, | | | | While consumers have benefited from these |
| the backbone of the mobile phone. For many years, | | | | advances in cell phones and cell towers, there has |
| constructing new cell sites and towers was essential | | | | been a great decline in the amount of rent seen by |
| for all cellular networks just so they could | | | | many property owners with cell site leases. Cellular |
| accommodate the rising demand. Today, market | | | | networks are now checking on each and every lease, |
| changes and fast-paced technology upgrades have | | | | and since many of these leases were signed back |
| stimulated wireless network providers to reevaluate | | | | when the technology was very much different from it |
| many of their older cell sites, cell towers, and their | | | | is today, they're often requesting a rent reduction or |
| wireless leases. | | | | moving elsewhere. At the same time, these same |
| Back in the day when cellphone technology was just | | | | advances in technology have also led to more |
| starting to make a name for itself, much of the hoopla | | | | competition for cell site leases. Since there's no such |
| was focused on erecting networks as quickly as | | | | thing as a "prime" spot any more, plenty of property |
| possible. This happened in the late 80s and early 90s, | | | | owners are offering low rental rates to attract high |
| fondly referred to as "the first and second | | | | credit cellular network leases. |
| generations" of cellular technology. It was during these | | | | Advances in cellular technology in the last 25 years |
| times that "prime" locations of cell sites were | | | | has been magnanimous, and the industry is still |
| considered to be of utmost importance. A number of | | | | aggressively advancing. The physical needs for a cell |
| properties and buildings offered "perfect" areas for | | | | site have changed, and cell tower leases are now |
| coverage, and networks often paid excessive | | | | being renegotiated. A good number of the property |
| amounts of money for these "prime" and "perfect" | | | | owners aren't quite happy about renegotiated leases |
| locations. | | | | and the lowering of their cell site and cell tower rents, |
| But as the expression goes "times, they are a | | | | but consumers - and even the entire country - are |
| changin'." | | | | enjoying the benefits of improved performance, |
| Contemporary cellphones are in many ways | | | | service, and the stability of wireless networks. It's not |
| completely different than their 1st and 2nd generation | | | | all gloom and doom as far as landlords are concerned, |
| predecessors. Before, higher antenna sites were | | | | however. As part of a cell site tower lease |
| needed in order to support as many mobile phone | | | | renegotiation, many landlords are able to secure a |
| users as possible...but it's not this way any longer. In | | | | long-term rent guarantee. Since cellular operators are |
| fact, the preferred location for cell towers is almost | | | | also one of the best clients a landlord can have, a |
| completely opposite now. Much of the operations are | | | | long-term arrangement is often considered "money in |
| now centered on sites that are closer to the ground, | | | | the bank." Still, technology and market forces are |
| allowing for greater bandwidths. This means that cell | | | | conspiring to force property owners to be more |
| phone users have more tower locations and can | | | | competitive in order to retain their tenants. Such is the |
| therefore use more services. The towers have | | | | march of capitalism. |