Array Digital Infrastructure

U.S. tower leases typically include annual escalators and long initial terms with multiple renewals, giving operators latitude to compound revenue per site as additional tenants co‑locate and as amendments are added.

Array is earlier‑stage with a current tower tenancy ratio near 1.0 excluding DISH, so most pricing power will be realized as second and third tenants are added on existing sites, which tend to carry very high incremental margins. The T‑Mobile MLA provides a contracted base that should support steady applications and amend activity.

Counterweights include customer concentration, interim site lease roll‑offs, and a smaller scale versus the big three towercos, which may temper rate leverage in competitive locations.