• Lot Number: 050523
  • Address: 4045 Bonita Road, Bonita, CA, USA
  • Type of Offering: Unique opportunity to purchase perpetual easements for  Verizon, AT&T and T-Mobile rooftop site leases in the San Diego area.
  • Carriers and Leases: T-Mobile, AT&T, Verizon
  • Auction Structure: With Reserve
  • Bidding to Commence At: N/A
  • Earnest Money: N/A
  • Buyer Premium: N/A

4045 Bonita Road, Bonita, CA, USA

Auction Details

Lot Number: #050523

Bidding to Commence At: N/A

Auction Date: June 9, 2023

Auction Time: CST

Cell At Auction, LLC offers this unique opportunity to purchase perpetual easements for  Verizon, AT&T and T-Mobile rooftop site leases in the San Diego area.  

AT&T:  This lease was entered into in 1996 with GTE Mobilenet at an initial rent of $694 monthly for five years with a couple of renewal options and annual rent increases based on CPI.  Most recently the second amendment was entered into with a commencement date of October 1, 2011, for five years with five (5) additional five year extensions.   Starting October 1, the rent was set at $1,300 per month with 3% annual increases.   The current monthly rent is $1,799.50. 

T-Mobile:  This site lease was signed in August of 1996 and commenced on August 1, 1997.   The initial rent was $500 monthly for five years with two additional five year renewal options.   The annual rent increases was based on CPUI with a limit of no greater than 5%.   Subsequently there was a first, second, third, and lastly fourth amendment.   The fourth amendment provided a rent increase to $1100 monthly for five years with two additional five year options.   This commenced on May 1, 2011. Should T-Mobile renew this including these options, the rent will expire in 2026.   The current monthly rent is $2,213.  

Verizon:  This site lease was entered into on September 29, 2016, and is the most current of the leases.  The initial rent was $2750 monthly with 3% annual increases.   The initial term was for five years with an additional four (4) five year renewal terms.   There is a 3% annual rent increase.   This is the highest rent of the three current tenants.  The current monthly rent is $3,283.64.

TOTAL CURRENT ANNUAL REVENUE:  $87,563.

DISH:   Current talks are under way with representatives of DISH Wireless for a new rooftop site lease.   Offers may be submitted with a value predicated on a valuation of the final negotiated terms of this lease.  

In Cooperation with John E. Rapp  Rapp BRE Lic. # 01380453

 

  • Instructions
  • Bidder Packet

Thank you for your interest regarding this cell tower/antenna. If you are interested in bidding on this asset and require more information, click on the tab labeled “Bidder Packet”. If you have questions regarding the due diligence either call Bud Blinick at 847-977-2314 or email Bud at budb@cellatauction.com.