Resolution Copper Co., a subsidiary of London-based Rio Tinto, one of the largest mining companies in the world, inked the deal to the space at 2525 E. Arizona Biltmore Circle for about $22 per sf with building owner Holualoa in a bid to establish an Arizona presence, Tom Auther, with Jacor Properties of Phoenix, tells GlobeSt.com.
Auther said the copper mining firm is presently in negotiations to buy a copper mine in Superior, which it believes may hold one of the largest copper deposits in the world. "This will be their preliminary office to get the ball rolling," said Auther, noting that the firm selected the Biltmore area site because it needed an in-town location close to the state mining office, which it will be dealing with during mining operations.
Auther represented Resolution Copper Co. in the lease negotiations. Jeff Wentworth with Grubb & Ellis|BRE Commercial negotiated the building owner's terms.
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