Insider received several comments in response to last weeks post from a landlord criticizing first rights of refusal in billboard leases. Insider thanks everyone who responded on this topic. We may not always agree but we learn from others even when we disagree. Mike Fitzgerald, Railroad Outdoor I agree that a […]
Insider published articles stating the business reasons and legal reasons for inserting right of first refusal clauses in billboard leases. Insider received this pushback from a landlord/billboard lease holder: I find your article regarding ROFRs to be so landlord unfriendly and completely unnecessary for a billboard company to obtain. I think […]
By Richard Rothfelder, Rothfelder and Falick. Billboard Insider reported in its January 22nd edition on rights of first refusal (“ROFR”) clauses in billboard leases. The article also provided a suggested ROFR provision, and recommended using such a clause to prevent Landmark Infrastructure or other unanticipated entities from becoming an unfriendly […]
Sometimes billboard companies put a clause in leases prohibiting a landlord from leasing the ground to another billboard company for a certain period of time following expiry of a billboard lease. To be effective this clause needs to include billboard easements as well as leases. That’s the lesson of Reagan […]
Seeking Alpha may be calling Landmark Infrastructure a “tech REIT” because 65% of Landmark revenues come from telecom and wireless sites but that hasn’t stopped Landmark from trying to grow the out of home leases and easement portfolio. Here’s Landmark’s latest marketing letter. Insider’s take: Landmark is contacting your […]
You need to keep track of historic inflation and expected inflation so you don’t agree to billboard lease inflators in excess of inflation. Same thing applies to the renewal of ad contracts. You need to get at least some increase in price on every ad renewal or inflation will be […]
Carolina Calderon is an Oradell, New Jersey attorney whose firm Law Offices of Carolina Calderon Castro, LLC specializes in advising landlords on billboard issues. Insider asked Calderon to talk about billboard leases from a landlord’s perspective. Carolina, how did you get involved with advising landlords on billboard leases? I became […]
Insider received a direct mail piece this week from Landmark Infrastructure emphasizing the ability to defer capital gains when selling a lease or easement. Here’s the pitch. A landlord can defer capital gains by (1) selling the easement to Landmark Infrastructrure and reinvesting the proceeds into other real estate, or […]
Make sure your leases binding on successors, heirs and assigns. That’s the lesson of Tavakoli v CBS Outdoor. Here’s a summary of the case. In 1993 National Advertising entered into a lease with Fred Cullincini for the operation of a billboard along Highway 99 in Stockton CA. The lease […]
Insider received a mailing this week from Landmark Dividend asking if he had any leases to sell. Landmark employees also phone Insider periodically asking if he has any leases he’d like to turn into cash. You can be sure Landmark is calling and emailing your landlords. If you’d rather not […]
