SBA Communications Extends Terms for Leases with Verizon Wireless
By Michael Dabaie
Real estate investment trust SBA Communications Corp. said it
entered into an agreement with tenant Verizon Wireless for extended
terms under existing lease agreements.
The agreement also provides equipment-specific pricing and terms
for upgrades to Verizon's existing leased sites, parameters for new
site leases, and streamlined leasing processes and procedures, SBA
said in a Securities and Exchange Commission filing.
As a result of the term extensions on the leases, the company
said it now expects to recognize at least $22.5 million in
additional straight-line revenue during 2021 beyond its previous
The company said it doesn't expect its full-year 2021 outlook
for other measures to be materially impacted.
Shares were up 1% to $278.40 in morning trading.
Write to Michael Dabaie at firstname.lastname@example.org
(END) Dow Jones Newswires
April 12, 2021 11:30 ET (15:30 GMT)
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