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 October 11, 2000
SBA COMMUNICATIONS CORPORATION
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(Exact name of registrant as specified in its charter)
Florida 000-30110 65-0716501
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(State or other jurisdiction Commission File (I.R.S. Employer
of incorporation or organization) Number Identification No.)
One Town Center Road, Boca Raton, Florida 33486
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(Address of principal executive offices) (Zip code)
(561) 995-7670
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(Registrant's telephone number, including area code)
Item 5 Other Events
SBA Communications Corporation ("SBA") reported that in the
third quarter it increased its tower portfolio by 290 towers
to 1,950 total towers. Of the 290 towers added in the third
quarter, 215 were newly-built and 75 were existing towers
acquired by SBA. The 75 towers were acquired in 26 separate
transactions for an aggregate price of $35.4 million. Based on
tenant leases executed as of September 30, 2000, same tower
revenue growth for the trailing twelve months on the 956
towers SBA owned as of September 30, 1999 was 35%. With
respect to the 1,660 towers owned at the beginning of the
third quarter, SBA added 245 new tenant leases at an average
initial monthly rental of $1,498, which is an annualized rate
of .59 new tenants per tower.
At September 30, 2000, SBA had agreements to acquire 419
additional existing towers in 37 separate transactions for an
aggregate purchase price of $141.2 million, including the
previously announced agreement to acquire 275 towers from
Telecorp PCS for $90.1 million. These acquisitions are
anticipated to close within the next six months. SBA is
currently involved in projects for over 1,600 tower builds for
its ownership throughout the nation, consisting of over 600
build-to-suit mandates from wireless carriers and over 1,000
sites SBA is developing through its strategic siting efforts.
SBA is a leading independent owner and operator of wireless
communications infrastructure in the United States. SBA's
primary focus is the construction of new towers and
acquisition of existing towers for its own account. Since it
was founded in 1989, SBA has participated in the development
of over 14,000 antenna sites in the United States.
SBA will hold a conference call to discuss these results on
Wednesday, October 11, 2000 at 10:00 AM EDT. The dial-in
number is 800-230-1096. The name of the conference call is
"SBA Third Quarter Operational Results." The replay will be
available from October 11, 2000 at 2:30 PM through October 18,
2000 at 11:59 PM. The replay number is 800-475-6701. The
access code is 543201.
Item 7 Financial Statements and Exhibits
(c) Exhibits
99.1 Press release dated October 11, 2000
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.
October 11, 2000 /s/ Pamela J. Kline
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Pamela J. Kline
Chief Accounting Officer
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