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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934.
Date of Report July 17, 2000
SBA COMMUNICATIONS CORPORATION
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(Exact name of registrant as specified in its charter)
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<S> <C> <C>
Florida 000-30110 65-0716501
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(State or other jurisdiction Commission File Number (I.R.S. Employer Identification No.)
of incorporation or organization)
One Town Center Road, Boca Raton, Florida 33486
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(Address of principal executive offices) (Zip code)
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(561) 995-7670
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(Registrant's telephone number, including area code)
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Item 5 Other Events
SBA Communications Corporation ("SBA") reported that in the
second quarter it increased its tower portfolio by 309 towers
to 1,660 total towers. Of the 309 towers added in the second
quarter, 217 were newly-built and 92 were acquisitions of
existing towers. The 92 towers were acquired in 23 separate
transactions at an aggregate price of $37.8 million. Based on
tenant leases executed as of June 30, 2000, same tower revenue
growth for the trailing twelve months on the 770 towers SBA
owned as of June 30, 1999 was 35%. With respect to the 1,351
towers owned at the beginning of the second quarter, SBA
executed 216 new tenant leases in the quarter at an average
initial monthly rental of $1,528, which is an annualized rate
of .64 new tenants per tower.
At June 30, 2000, SBA had agreements to acquire 147 additional
existing towers in 38 separate transactions for an aggregate
purchase price of $56.4 million. These acquisitions are
anticipated to close within the next six months. SBA is
currently involved in projects for over 1,500 new tower builds
for its ownership throughout the nation, consisting of over
600 build-to-suit mandates from wireless carriers and over 900
sites SBA is developing through its strategic siting efforts.
Item 7 Financial Statements and Exhibits
(c) Exhibits
99.1 Press release dated July 11, 2000
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
July 17, 2000 /s/ Pamela J. Kline
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Pamela J. Kline
Chief Accounting Officer
