District hears buyout offer from Vertical Bridge for cell tower at Nance Elementary

On July 21, 2025, the Board of Education Real Estate Committee received a buyout offer from Vertical Bridge for the mobile carrier rights to a cell tower sited at Nance Elementary School (8959 Riverview Boulevard).

A district staff member summarized the current arrangement: Vertical Bridge pays the district $10,800 a year for the lease. Vertical Bridge’s representative, identified in the meeting as Mr. Fiore, said the company offered three structures for monetizing the site — a lump-sum payment, a three-year structured buyout, or a five-year structured buyout — and that offers are typically based on the number and stability of carriers on a site. “Usually, in today’s current market, you're probably looking at anywhere from a 12, 13 times your annual revenue stream,” Fiore said, describing standard valuation practice and identifying Verizon, T‑Mobile and AT&T as the most stable carrier tenants used in their underwriting.

Committee members asked whether first responders use the tower; Fiore said he did not see first-responder use on the site and that current tenants include Verizon and DISH. Committee members also asked whether additional carriers could be added and whether the site is in a residential area; Fiore identified the site as 8959 Riverview Boulevard (listed in his materials as USMO 5036) and said structural constraints affect the ability to add carriers.

A committee member moved to take the offer to the full board for consideration. The committee also asked staff for an internal valuation of the tower before making a recommendation. No final board-level sale or buyout decision was made at the July 21 committee meeting.

Committee staff noted that monetizing a tower is an option offered to many landlords and that the district could consider monetization of other sites in its portfolio.