Monday, December 21, 2020

AM Owners Selling More Tower Sites

 UPDATE The warehouse industry is considering AM radio tower sites as their needs expand. Older AMs often have tower sites sited decades ago, before the urban core grew around them. As land for these tower sites grows more valuable than station revenue, some station owners are selling.
Inside Radio cites Family Radio as an example. The WFME-FM New York owner recently sold its five-acre-tower site to Prologis for $51 million. The industrial area site is located on the border of New York City boroughs Brooklyn and Queens and will be used by the buyer for parking and storage.
Prologis Senior VP Jeremiah Kent told Transport Topics the site is located in one of the most densely populated markets where demand for logistics real estate is high and land is scarce. Continue Reading

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