Clear Channel Communications Inc. announced Nextel Communications Inc. has signed a five-year master lease agreement with four five-year renewal options that allows Nextel to collocate wireless equipment on Clear Channel’s 1,300 wireless tower sites and allows Clear Channel to collocate radio equipment on Nextel’s 1,200 tower sites.
“The Nextel MLA, along with other recently executed agreements, highlights the attractive characteristics of our tower portfolio for the deployment of wireless communications networks,” said Scott Quitadamo, Clear Channel’s director of vertical real estate.
Radio giant Clear Channel entered the vertical real estate market in 2002 making its existing towers, billboards, buildings and entertainment venues available for collocation of wireless antenna and equipment.
“We entered the vertical real estate market at the right time and with a group of structures that already serves a specific purpose for our media business,” said Quitadamo. “The vertical real estate business was simply a natural extension of that business.”
