BOCA RATON, Fla.-SBA Communications Corp., an independent owner and operator of wireless communications infrastructure, reported an increase in its tower portfolio by 309 towers to 1,660 total towers during the company’s second quarter.
SBA noted that of the 309 towers added, 217 were newly built towers, with the remaining 92 towers added through acquisitions at an aggregate price of $37.8 million.
In addition, SBA said it executed 216 new tenant leases in the quarter at an average initial monthly rental of $1,528.
“We are very pleased with our record number of new tower additions for the quarter, both acquired and built, which are also well ahead of our plan for the year,” said Jeff Stoops, president of SBA. “As a result of our strong second quarter performance, we are increasing our planned investment in new tower builds this year to a minimum of 600 towers.”
