(REUTERS HONG KONG | Fri. Aug 23, 2013) Jiangxi Copper Co Ltd. has joined a list of potential Chinese suitors interested in buying GlencoreXstrata’s $5.2 billion-plus Las Bambas copper mine in Peru, underscoring the Chinese government’s desire to plug a shortage in copper supply.

Glencore’s sale of the mine comes at an opportune time for China which is the world’s top importer of copper concentrate but produces only about a third of the amount it needs, according to recent production data.

Jiangxi, China’s biggest copper producer, may eventually team up with either Chinalco Mining Corp International or MMG Ltd., both of which are also evaluating bids for the mine. All three might team up together, the source told Reuters.

The Las Bambas mine is scheduled to produce 400,000 tons of copper a year starting in 2015 for at least five years.

The auction has generated limited interest from other copper miners around the world so far, as it appears inevitable that Chinese companies will eventually own the project.

Jiangxi Copper already has operations in Peru. It owns 40 percent of the Northern Peru copper mining project, which is expected to start production between 2014 and 2016. China’s State-owned Minmetals Non-Ferrous Metals owns the other 60 percent of the mine.

Glencore has invited first round bids for the Las Bambas mine by mid-September. The only reason Glencore is selling Xstrata’s Peruvian project is because it signed a deal with the Chinese regulators for approving its $35-billion merger with mining giant Xstrata. The merged company GlencoreXstrata, in exchange for China’s blessings, agreed to sell off some of it non-producing mining assets by the end of August 2014 as part of a deal struck with Beijing’s Ministry of Commerce in April. Chief Executive, Ivan Glasenberg, said this week that he hopes to reach an agreement on the sale by the end of this year.

Chinalco Mining Corp is working with Goldman Sachs and Morgan Stanley for its planned bid, while MMG has engaged Citigroup and Bank of America Corp, sources said.

The U.S. Geological Survey reports the U.S. mine production of copper in 2012 increased by 4% to about 1.15 million tons, and was valued at about $9 billion. Arizona, Utah, New Mexico, Nevada, and Montana—in descending order of production—accounted for more than 99% of domestic mine production; copper also was recovered in Alaska, Idaho, and Missouri. Twenty-eight mines recovered copper, 18 of which accounted for about 99% of production. Copper and copper alloy products were used in building construction, 45%; electric and electronic products, 23%; transportation equipment, 12%; consumer and general products, 12%; and industrial machinery and equipment, 8%.

 

Long Realty has announced the opening of its new flagship office in Oro Valley on August 30, 2013. This new office is located at 8540 N Oracle Road, just north of Magee Road.

The Oro Valley branch is a brand new, state-of-the-art facility in 11,500-square- feet of luxurious Class-A office and meeting space with an open floor plan, and high visibility along Oracle Road as part of the new Shoppes at Oracle development. This new facility will enable Long Realty to better serve its rapid growth in the northwest corridor of Tucson.

“We are excited about our new, larger branch location in Oro Valley”, said Rosey Koberlein, CEO Long Companies. “This new office is an investment in providing the best service to our growing list of home buyers and sellers. Oro Valley and the northwest side of Tucson are important growth areas and our sales associates are poised to realize significant business increases with this new resource.”

The new office will combine the sales associates and staff housed in the company’s previous Casas Adobes, at Oracle and Ina, and Oro Valley, at Pusch View and Oracle, locations. The new Oro Valley office will boast over 150 sales associates lead by the experienced management team of branch manager KC Woods, sales manager Diane Tierno, sales training manager Michelle O’Brien and contracts manager Shelly Gallichio. In 2012 this combined group of sales associates sold over $277 million in real estate.

“The new Oro Valley office will bring together one of the best group of real estate professionals in all of Arizona. This flagship office makes a statement about Long Realty’s commitment to the community and our sales associates. The whole Oro Valley office team is ecstatic about this expansion and the opportunities it presents.”

Roger Breckenridge with Long Realty negotiated the lease for Long Realty and the landlord, Shoppes at Oracle Rd, LLC. Breckenridge is leasing agent for the new Shoppes on Oracle development with space available from 2,000- 25,000- square-feet.

For more information on the new Oro Valley office, contact KC Woods at (520) 918-5901.

INDUSTRIAL GROUND LEASE – 3881 N HIGHWAY DR., TUCSON

Fishel Cable entered into a ground lease on one acre yard at 3881 N Highway Drive in Tucson for a storage yard. Fishel in Tucson, AZ is a private company, established in 2005. Fishel provides Cable Phone Service, Long Distance Telephone Service, Sbc Telephone Services, Telephones Services and Cheap Cell Phone Service. Fishel’s office is at 1912 W Prince Road. Ron Zimmerman of Newmark Grubb Knight Frank in Tucson handled the transaction.

RETAIL SPACE – 350 N. GRAND AVE., NOGALES

CSL Plasma, Inc., leased 15,530 sq. ft. at Nogales Plaza, located at 350 N Grand Ave. in Nogales, AZ from Nogales Shopping Center LP. CSL Plasma is owned by CSL Limited, based in Melbourne, Australia.  CSL Plasma first began in 1916 by supplying vaccines for the Australian government.  In 1994, CSL became a public company and since then they have grown to become a successful and well-respected global specialty biopharmaceutical company.  CSL currently employs over 10,500 associates worldwide.  CSL currently has 4 locations in Arizona, two in Tempe and two in Tucson. Denisse Angulo, Commercial Specialist with Cushman & Wakefield / PICOR and Jeff Maza with DTZ represented the tenant in this transaction.

INDUSTRIAL SPACE – 4325 S 3^RD AVE., TUCSON

Traxda leased 14,700 sq. ft. at 4325 S 3^rd Ave in Tucson from James & Patricia Novak.  Traxda was founded by Greg Pilling in 2011, after re-acquiring the Truxxx brand. Traxda is a manufacturing company that makes all of their products in Tucson. Pilling was one of the founders of Truxxx in 2004, the company that created the leveling kit segment in the truck aftermarket. The Truxxx line has the most comprehensive line of leveling kits available on the market, with many more exciting products coming soon. Ron Zimmerman of Newmark Grubb Knight Frank in Tucson represented the landlord and tenant in the transaction.

FLEX SPACE – 3865 N. BUSINESS CENTER DR., TUCSON

Motorola Solutions, Inc. renewed its 4,304 sq. ft. lease at 3865 N. Business Center, Suite 121 in Tucson.  Motorola Solutions is a worldwide enterprise offering communications solution, electronic devices, network systems, accessories and software to both the government and private sectors. Rob Glaser, SIOR, CCMI, Principal and Paul Hooker, Industrial Specialists with Cushman & Wakefield / PICOR, represented the landlord in this transaction while Dave Volk with CBRE of Tucson represented the tenant.

INDUSTRIAL SPACE – 108 S VISTA PARK RD., SIERRA VISTA

Vista Auto Care, LLC leased 3,000 sq. ft. at 108 S Vista Park Road in Sierra Vista from Gary Brown, the landlord. The property has three 12’x14’ bay doors and a common dock ramp. Ron Zimmerman of Newmark Grubb Knight Frank handled the transaction for landlord and tenant.

RETAIL – 3837 EAST BROADWAY BLVD., TUCSON

Smashburger Restaurant (Eric and Laura Wolf) is set to open its newest Tucson location on Wednesday, September 11 in 2,837 sq. ft. at 3837 E Broadway Blvd in the San Clemente Shopping Center located at the northwest corner of Broadway and Alvernon. This is the second of four Tucson Smashburgers slated to open by the end of 2014. The Tucson Smashburgers include the signature “Arizona Smashburger”, which is 100% certified Angus beef, topped with habanero cheese, guacamole, lettuce, tomato, onion, chipotle mayo and fresh jalapenos on a chipotle bun.  Smashburger also has create your own delicious burgers. Richard Shenkarow of Shenkarow Realty Advisors in Tucson and Greg Furrier of Cushman & Wakefield Picor handled the lease transaction for landlord San Clemente, LLC and tenant.

RETAIL – 4352 E. SPEEDWAY BLVD., Tucson

PF Tucson, LLC dba Whataburger renewed its 2,490 sq. ft. lease at 4352 E. Speedway, Tucson from Speedway Properties, LLC.  The location is a Whataburger restaurant.  Denisse Angulo, Commercial Specialist with Cushman & Wakefield / PICOR represented the Tenant in this transaction.

OFFICE SPACE – 4500 E. SPEEDWAY BLVD., TUCSON

The following businesses renewed leases from Presson Midway, LLC at the Midway Business Park, 4500 E. Speedway Blvd. in Tucson.

• Counsel Industries, LLC leased 2,400 sq. ft. in suites 47 & 48.  MIKID (Mentally Ill Kids in Distress) employs 100+ trained staff offering an array of services to families of children with emotional and behavioral challenges.  MIKID has four full service offices in Phoenix, Tucson, Yuma and Eagar.
• Descending Dragon Health Center, leased 1,600 sq. ft. suite 19.  Jarrod Lash owner, a member school of the North American Tang Shou Tao Association (NATSTA), provides traditional Chinese medicine and martial arts.
• Meziab International has renewed lease of 1,200 sq. ft. at the Midway Business Park, 4500 E. Speedway, Suite 24.  Meziab is a Mideast import company.
• IOI West Inc., leased 800 sq. ft. in suite 82.

Rob Glaser, SIOR, CCIM, Principal and Paul Hooker, Industrial Specialists with Cushman & Wakefield / PICOR, handled these transactions.

OFFICE SPACE – 1712 E. SPEEDWAY BLVD., TUCSON

Core Campus Tucson, LLC a developer of student housing has leased 1,800 sq. ft. at 1712 E. Speedway in Tucson from VAM Realty, the landlord, for a leasing office.  Core Campus has construction underway on its 692-bed student housing community, known as The Hub at Tucson, at 1011 N. Tyndale Ave, Tucson.  Debbie Heslop represented the tenant in the transaction.  Heslop has also been retained for leasing ground floor retail space at The Hub of Tucson, located one block west of the University of Arizona campus.

INDUSTRIAL SPACE – 3820 S PALO VERDE RD., STE 113, TUCSON

Images Enterprises, LLC dba Everlasting Images Institute (EII) renewed its 1,725 sq. ft. leased at 3820 S Palo Verde, Suite 113, in Tucson from Palo Verde Trust Partners, LLC. EEI of Tucson, since 1983, has offered a wide variety of vocational training classes in Esthetics, Permanent Makeup, Construction, Red Cross Training, and Landscape Essentials in Arizona and Nevada. Rob Glaser and Paul Hooker, Industrial Specialists with Cushman & Wakefield / Picor handled the transaction.

INDUSTRIAL SPACE – 3538 N. ROMERO RD., TUCSON

Maverick Petroleum Services, Inc., leased 1,500 sq. ft. in the Romero / Prince Business Park at 3538 N. Romero Rd. Suite 178 in Tucson from Costa Verde Investments, LLC.  Jeff Zellet, Commercial Properties Specialist with Cushman & Wakefield / PICOR represented the tenant in this transaction while Ron Zimmerman of Newmark Grubb Knight Frank represented the landlord.

OFFICE SPACE – 5343 E PIMA ST., SUITE 201, TUCSON

Serrato Corporation leased a 1,400 sq. ft. for an administrative office at 5343 E Pima St, Suite 201, Tucson from Bajada Land Company, LLC. Their first location in Tucson, Serrato provides training and education services through the Department of Labor. Tom Nieman, Office Specialist and Russ Hall, Commercial Specialist, bot Principals with Cushman & Wakefield / Picor represented the tenant in the transaction.

RETAIL SPACE – 1801 S. ALVERNON WAY – TUCSON

Francisco Arenas leased 1,200 sq. ft. at 1801 S Alvernon Way, Suite 108 in Tucson from Presson Midpoint, LLC. Rob Glaser, SIOR, CCIM, Principal and Paul Hooker, Industrial Specialists with Cushman & Wakefield / PICOR, represented the landlord in this transaction while Bruce Suppes with CBRE of Tucson represented the tenant.

FLEX SPACE – 2112 N DRAGOON RD., SUITE 10, TUCSON

Stephen Beecken leased 1,000 sq. ft. at 2112 N Dragoon, Ste. 10 in Tucson from Rich Rodgers Investment. Brandon Rodgers, CCIM, Industrial Specialist, with Cushman & Wakefield / Picor represented the tenant in this transaction.

FLEX SPACE – 3855 S. EVANS BLVD., TUCSON

Diamond Medical Equipment LLC, has renewed its 900 sq. ft. lease in the AJO/EVANS Business Park, Tucson. Diamond Medical Equipment is a certified durable medical equipment company that was established in 2004 in Mesa Arizona. DME is currently headquartered in Gilbert Arizona. Pat Welchert and Jeff Zellet of Picor represented the landlord.

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[ismember] (Fishel Cable lease at 3881 N Highway Drive in Tucson is a 1-year term at $1,500 per month)

(Traxda’s lease at 4325 S 3^rd Ave started June 1, 2013 for a 4-year term)

(Asking rate at North Tucson Business Center, 3865 N. Business Center, is $12/SF/year full service)

(Vista Auto Care at 108 S Vista Park Rd, Sierra Vista is a 33-month lease term starting August 1, 2013. Asking rate was $1,710 per month, or $6.84/SF/year industrial gross.)

(Asking rate at San Clemente, 3837 E Broadway Blvd for smaller space was $25/SF/ year NNN at time lease was renewed)

(Asking lease rate at 4500 E Speedway was $.41 -$.52 / SF/ month Industrial gross)

(Asking rate at 3820 S Palo Verde is $.68 – $.83/ SF / Month/ IG)

(Asking lease rate at Romero / Prince Business Park,  3538 N. Romero Rd. was $.65/SF/modified gross)

(Asking rate  at 2112 N Dragoon was $7.20 / SF/ year / IG. Tenant pays city leasing tax at 2.5% plus own utilities. Amenities include grade level rollup for each space, monument signage, and excellent Interstate 10 access.)

(Asking lease was $.50/SF/month NNN with triple nets of $.24 / SF /month) [/ismember]