Billboard easements trade at a higher multiple than billboards (Billboard Insider)

Out-of-home investment banker Jim Johnsen of Johnsen Fretty says billboard easements trade at a higher multiple than billboards: Dave, in my opinion, it is (almost) ALWAYS better to sell a perpetual easement than to sell deeded property. Buyers for outdoor “product” are in the outdoor business. Rarely are they also in the real estate business. […]