ISTORICALLY, when considering a building’s services and utilities, owners typically thought of electric, water, HVAC and cleaning. With the evolution of the telecommunications industry and the critical role that sophisticated telecommunications have come to play in all types of businesses, owners must now include broadband on that list. As this evolution has occurred over recent years, the way that landlords of multi-tenant buildings (MTBs) and telecommunications service providers (TSPs) have interacted is significantly different.
TSP access agreements are being negotiated in the context of property owners’ recognition that broadband must be viewed less like an amenity and more like a utility service. Consequently, owners have modified their former, aggressive positions regarding lucrative compensation and their expectations regarding other deal “sweeteners.” Their focus is now on issues including types of providers and services, construction and operational issues and security and disaster recovery. Gone are the days when owners tended to concentrate on the issue of hefty access fees and additional sources of equity and income -whether it was in the form of warrants in the TSP or a percentage of the gross revenue generated by the TSP in the building.
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