Reviewed by: Pat Byington
Birmingham AT&T tower sold as part of $850M nationwide deal
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As part of a nationwide legacy network transformation, telecommunications giant AT&T has sold 74 underutilized properties across the country—including the AT&T Microwave Tower in downtown Birmingham.
AT&T Microwave Tower sells for $28M
Have you ever looked at the Birmingham skyline and wondered what goes on inside that AT&T tower?
No, not that AT&T Tower. I’m talking about the tall, skinny and silver tower at 1701 6th Avenue North near the Alabama Power Headquarters.
Referred to as the AT&T Microwave Tower, this structure was built in 1968 as part of AT&T’s microwave tower network, which bridged the gap between early wired communication networks and modern fiber optic networks.
As part of its legacy network transformation, AT&T has entered into a structured sale-leaseback of 74 of its underutilized properties across the country with private real estate development firm Reign Capital.
“The uniquely structured deal unlocks value in otherwise stranded commercial real estate space.
It’s a creative solution providing both upfront and long-term value through a revenue sharing model that fits with our broader company and transformation initiatives.”
Michael Ford, head of global real estate with AT&T said in a press release dated January 24, 2025
The transaction generated more than $850 million for AT&T and enables future profit sharing with any redevelopment opportunities.
AT&T will lease the properties and equipment as needed from Reign Capital as it works towards its goal to exit legacy network operations by the end of 2029.
What would you like to see Reign Capital do with the AT&T Microwave Tower in Birmingham? Let us know @bhamnow!
