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Tower Crew Crashes on Way to Site

Five men, employed by Wingate Communications and Electric, were on their way to a job site in Brooksville, Florida, on July 29 when a box truck ran a stop sign and killed all five employees: Apolinar Nunez, 49, and Jose Gomez, 53, both of Winter Haven; Guillermo Chavez, 24, of Plant City; and Santos Vega, 47, and an unidentified 48-year-old man from Bartow. The name of the fifth victim is being withheld until Mexican authorities have notified his family.

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Solid Second for SBA

SBA Communications released their second quarter earnings Wednesday after the market closed with site leasing revenue growth of 9%, tower cash flow growth 10%, net income increasing from a $9.5 million loss to $28.3 million in income, adjusted EBITDA growth of 9%, and adjusted funds from operations per share growth of 8%. SBA had a solid second quarter,” commented Jeffrey A. Stoops, President and Chief Executive Officer.

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Let’s Talk Towers

American Tower hosted their quarterly conference call Wednesday morning, and there was a lot to learn. Of course, the recently acquired Verizon portfolio was discussed. Thomas A. Bartlett, Chief Financial Officer & Executive Vice President, noted that the Verizon sites are delivering solid results and performing in line with the company’s expectations. “We constructed 12 towers in the quarter and purchased or extended the remaining term on nearly 500 ground leases, with extensions averaging about 29 years. Including the new Verizon sites, around 62% of the land under our U.S. towers is now either owned or controlled for more than 20 years,” Bartlett explained.

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Sprint to Pay More for Nevada Tower

Sprint’s lease for a tower at Reed High School in Washoe County, Nevada, is coming to an end. Over the past four years, the school has received about $108,000 from the structure, but are now asking for more if Sprint wants to renew the lease. The Reno Gazette-Journal reported that the Washoe County School Board is requesting $12,000 a year, which is a 43% increase in rent.

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Sat, August 1, 2015
    

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