Slate Grocery REIT, owner and operator of U.S. grocery-store anchored real estate in major U.S. metro markets, inked a deal with 5G, LLC to install tower equipment on the rooftops of commercial buildings. According to GlobeSt.com, Slate Grocery is the latest in REITs to enter an agreement with a 5G/wireless provider to utilize the otherwise unused rooftop space, building value, and increasing “rent rolls.”
Equipment will be installed in both dense urban and suburban locations as part of an exclusive multi-year agreement, 5G LLC said in a statement. Slate Grocery will “turn the dead space of their urban rooftops into the perfect 5G equipment site bringing significant additional property revenue without capital contribution.”
5G LLC maintains that rooftops of commercial buildings are the ideal “cell tower” site. GlobeSt.com reported that many tenants require access to 5G, and the rooftop positioning helps with signal density and allows for lower antenna heights.
“The close to $90 billion carriers spent on additional spectrum in the recent C-band auctions further increases the urgency to get new sites up and running,” said Matt Davis, CEO of 5G LLC. “Depending on location, the size, and structure of the roof, it is now possible to have three or more carriers’ antennas all paying the owner rent with 10-to-30-year leases. The roof is the best next-generation lease.”
Reader Interactions