LEASERENEWED

Appalachian State University AgendaPacket Executive Committee Meeting 2026-06-15

Appalachian State Renews Verizon Cell Tower Lease at Cone Hall

$55,000 annually; buildout allowance up to $600,000; 3% annual escalator; $250,000 early termination fee (if applicable)Appalachian State UniversityCELLCO PARTNERSHIP DBA VERIZON WIRELESSJune 15, 2026

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Description

Appalachian State University is renewing a lease with Cellco Partnership D/B/A Verizon Wireless for continued use of cell tower space at Cone Residence Hall. The renewed lease runs up to 10 years at $55,000 annually, with rent escalations and a university buildout allowance of up to $600,000. Verizon will occupy 95 square feet for equipment and antennas.

Contract Details

Contract Amount

$55,000 annually; buildout allowance up to $600,000; 3% annual escalator; $250,000 early termination fee (if applicable)

Vendor

CELLCO PARTNERSHIP DBA VERIZON WIRELESS

Agency

Appalachian State University, NC

Contract Type

LEASE

Document Date

June 15, 2026

Contract Term

No longer than ten (10) years, including renewals, beginning upon expiration of current lease (spring/summer 2026)

Renewal Date

2036-06-01

Renewal Info

Lease may be renewed within a 10-year maximum term; early termination fee and right of first offer on adjacent space included. Any future alterations or equipment additions require university consent and may impact rent.

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