Seller-side exclusive · Rooftop & ground cell sites

Your cell lease is worth more than the first offer you got.

We represent property owners — never the buyer. We take your carrier lease to the national buyout firms at the same time, make them bid against each other, and you keep the difference.

Already have an unsolicited offer letter in hand? That's the number to beat. Send it over — we'll tell you honestly whether it's fair.

SITE DATA SHEET / EST.● LIVE

Current rent $3,500/mo

Carrier

Escalator

Years of term remaining 30 yrs

INDICATIVE LUMP-SUM RANGE

$525,000 — $840,000

LOWBALL 12xMARKETTOP OF MARKET 25x

Annual rent $42,000 · Implied multiple 12.5x – 20x

Estimate only. Real offers move on term remaining, escalator, co-location, assignment/consent language, ROFR, and mortgage status. We read the actual lease before we quote you a number.

SHT 01The problem

One buyer, one offer, no leverage.

Buyout firms find owners by mailing offer letters. It works because most owners have no way to know what the lease is actually worth, and no second bidder to compare against. The first offer is almost never the best one available.

We flip it. Your lease gets packaged once and shown to every credible buyer at the same time, on a deadline, with terms we set.

AP WirelessSymphony TowersLandmark DividendUnisonEverest InfrastructureAmerican TowerCrown CastleSBATower Lease Partners

Buyer names shown are firms active in this market. Named here for illustration; no endorsement or affiliation implied.

SHT 02Two ways we work

TRACK ABROKERAGE

You own the lease. We sell it.

Exclusive seller-side representation on rooftop and ground cell site leases and easements. Competitive process, disclosed fee, paid only on close.

TRACK BACQUISITIONS

You want out. We buy.

We acquire commercial property and lease-encumbered assets for our own account. Direct purchase, no financing contingency games, close on your timeline.

On which hat we're wearing: on any given asset we are either your broker or a principal buyer — never both. We tell you which one before we talk numbers, in writing.

SHT 03Start here

Send the lease. Get a straight answer.

No cost, no obligation. We'll read the lease, tell you what it's worth, and tell you if you should keep it instead.

SHT 10Lease owners

Exclusive representation for cell site owners.

If a carrier or tower company pays you rent, you own an income stream that national infrastructure funds want to buy. We make them compete for it.

10.1The process

Lease review

We read the actual document — rent, escalator, term and renewals, assignment and consent language, ROFR, co-location, termination rights. Working assumptions get people underpaid. The lease governs.

Exclusive agreement

Before we contact a single buyer, we sign a short exclusive listing agreement with you. It states our fee, the term, and that we represent you and only you.

Package and market

Site data sheet, lease abstract, rent roll, coordinates, structural and consent notes. Sent to every credible buyer at once with a bid deadline.

Competitive bidding

Offers come back as multiples of annual rent. We push the leaders against each other on price, on term length purchased, and on the easement structure — not just the headline number.

Close

You pick the offer. We manage diligence, carrier consent, title, mortgagee consent and funding. Our fee comes out of closing. If it doesn't close, you owe nothing.

10.2What moves the number

Factor	Why the buyer cares
Annual rent	Everything is priced off it. Offers are quoted as a multiple — roughly 10x–25x annual rent depending on the asset. Anything near 15x on a strong site is a floor, not a fair price.
Escalator	A 3% annual bump and a 15%-per-five-year bump are not the same asset. The escalator drives the buyer's IRR more than almost anything else, and it is frequently misread.
Term remaining	Buyers underwrite the years they can count on. Sites in a final renewal term price very differently from one with 25+ years of options.
Co-location	Additional carriers or a tower company sub-leasing on the same structure adds revenue and adds complexity. Both get priced.
Consent & severance	If you're assigning one lease and keeping the rest of the roof, that can trigger a consent right the carrier holds at its sole discretion. Better to raise it upfront than to have a deal die in diligence.
ROFR	Some leases give the carrier a right of first refusal on any sale. It doesn't kill the deal, but it changes how the process is run.
Mortgage	A lender on the property usually means a mortgagee consent or subordination. Standard, but it takes time — we start it early.

10.3Straight answers

What do you charge?

A success fee on close, disclosed in writing in the listing agreement before we do any work. No retainer, no upfront cost, no fee if the deal doesn't close.

Are you the buyer?

Not on brokerage deals. On a brokerage engagement we work for you and are paid by you. We do buy property for our own account on a separate track, and if that's ever the situation, we say so in writing before any numbers are discussed. Be very careful with anyone who calls themselves a "lease consultant" and turns out to be the one buying.

Should I even sell?

Sometimes no. If the site is strategic, if you plan to redevelop, or if the rent is a core part of your property's value at sale, holding can be the right call. We'll tell you that. We'd rather lose a deal than put you in a bad one.

Will selling affect my building?

Yes, and it's worth understanding before you sign. Most buyouts are structured as an easement plus assignment of the lease. That means a third party now holds rights over that part of your roof or land for decades — including, in many structures, the right to add equipment or sublease. The document language matters more than the price. We negotiate both.

How long does it take?

Typically 45–90 days from signed exclusive to funding, depending on carrier consent, title, and whether there's a lender.

SHT 20Acquisitions

We buy property for our own account.

Principal capital. Straightforward diligence. No listing, no marketing period, no chain of buyers.

20.1Buy box

Lease-encumbered assets

Commercial property with an existing carrier, tower company, billboard, or utility lease in place. We understand the encumbrance and don't discount blindly for it.

Small-bay commercial

Retail strip, flex, industrial and mixed-use. Value-add and stabilized both considered.

Land with infrastructure

Ground-lease parcels, tower sites, and land adjacent to existing infrastructure.

Criteria

Target markets: Phoenix metro & greater Maricopa County
Deal size: inquire directly
All-cash or conventional debt
Direct from owner, or through a broker we pay

What you get

Answer on fit within 48 hours
Written LOI within 5 business days
Proof of funds up front
Broker fee protected and paid at close

20.2Submit a property

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Asset type *

Asking price *

Notes *

Received. We'll come back on fit within 48 hours.

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SHT 30Lease library

The terms buyers use, in plain English.

If you're getting offer letters, this is the vocabulary being used around you. Learn it before you sign anything.

30.1Glossary

Multiple	The price expressed as a number of years of annual rent. A $42,000/yr lease sold for $700,000 traded at roughly 16.7x.
Escalator	The contractual rent increase. Commonly 2–3% annually, or a step-up (e.g. 15%) at each renewal term. Read it in the lease. Do not assume.
ROFR	Right of first refusal. The carrier or tower company can match a third-party offer and buy on the same terms.
Easement	The structure most buyouts actually use. You're granting long-term rights over part of your property, not just selling rent.
Severance	Assigning one lease while keeping other rights on the same roof or parcel. Often requires the carrier's written consent, sometimes at their sole discretion.
MLA	Master lease agreement. The umbrella contract between the carrier and the site owner or tower company that the individual site lease sits under.
Co-location	More than one carrier on the same structure. More rent, more consents, more diligence.
SNDA	Subordination, non-disturbance and attornment. What your lender signs so the buyout can close.

30.2Benchmarks

Offer level	Typical multiple	What it usually means
Unsolicited mailer	10x – 15x	An opening number designed to be accepted. Treat as a floor.
Negotiated, single buyer	15x – 18x	Better, but there's no second bidder disciplining the price.
Competitive process	18x – 25x	Multiple funds bidding on a full package, on a deadline.

Illustrative ranges only, not a forecast. Actual pricing depends on the site, the carrier, the term and the document. Nothing on this page is an offer.

SHT 40The firm

One side of the table.

Skyline has been an Arizona limited liability company since 2008. We work in one of the most one-sided markets in commercial real estate: an owner gets a letter with a number on it and no way to test whether it's fair. The firms sending those letters buy leases every day. The owner sells one, once, in their life.

We're on the owner's side of that. We take an exclusive listing, run a real competitive process, and disclose our fee before we start. The buyers know us, which is exactly why they bid honestly.

On a separate track, we acquire commercial property for our own account. Those are different deals with different paper, and we never sit on both sides of the same asset.

ENTITY RECORDAZCC

ENTITY —

TYPE Domestic LLC · Member managed

STATE Arizona

FILE NO —

FORMED —

STATUS Active · In good standing

AGENT —

OFFICE —

Verify on the AZCC registry →

40.1How we're paid

BROKERAGE

Success fee, on close

A percentage of the sale price, stated in the listing agreement. Paid at closing out of proceeds. No close, no fee.

ACQUISITIONS

Our own capital

When we buy, we're the principal. We pay a cooperating broker's fee where one is involved.

NEVER

Both at once

We do not act as an owner's advisor and the buyer on the same asset. If we'd be conflicted, we say so and step back.

SHT 50Lease valuation

Send the lease.
Get a straight answer.

Free, no obligation, and we'll tell you if the right move is to keep it. If you already have an offer letter, include the number — that's the one we're beating.

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