Cellular leasing is renting space on a property, such as the roof or facade of a parking garage, to wireless carriers or tower companies for antennas and equipment.
Parking structures are attractive sites: they are tall, open, well located and easy to reach for maintenance. A lease can add steady income with little effort from the owner, alongside parking revenue.
How the leases work
- Terms often run for many years with renewal options and scheduled rent increases.
- The carrier or tower company installs and maintains the equipment.
- Rooftop leases may take a few spaces for equipment cabinets.
What owners should watch
- Structural review of added loads and roof penetrations.
- Access rights, insurance and indemnity terms.
- Relocation clauses, so leases do not block future repairs, solar canopies or redevelopment. See solar canopy.
- Local zoning and aesthetic rules.
The Parkonomics view
A cell lease is one of the easiest dollars a garage can earn. Read the relocation and term clauses carefully: the roof that hosts antennas today may need to host solar panels or a building tomorrow.
Related terms: Solar Canopy, Future-Flexible Design, Net Operating Income, Adaptive Reuse, Parking Easements, Revenue Share