PHOENIX-Resolution Copper Co. spends $22 per sf for 4,054 sf at the Biltmore Pavilion as it proceeds with talks to acquire a Superior mine, believed to be one of the largest copper deposits in the world.
By Beverly Ford|June 27, 2003 at 01:01 AM
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PHOENIX-A copper mining firm that is in negotiations to buy what is believed to be a mine containing one of the largest copper deposits in the world has taken a five-year lease on 4,054 sf of office space at Biltmore Pavilion for the firm’s first Arizona field office.
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
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