By: Jason Wong, CCIM, Red Point Development
TUCSON, AZ (March 22, 2024) - With metal prices soaring, so is metal theft. Businesses and property owners are experiencing a large increase in metal theft and vandalism. Backflow assemblies, air conditioners, and copper wiring are being stolen, resulting in thousands of dollars in repairs. The theft is not limited to copper. Brass sewer clean-out plates and any metal are being stolen. Replacement brass plates are $75-$85 each if you can find them.
The Metal Theft Coalition is being reformed to fight theft and vandalism. MPA, BOMA, Metro Chamber, Pima County Sheriff, TPD, and others are joining. Attached is a Metal Theft Tracking Spreadsheet. If you have experienced vandalism or theft, please complete the form. We are tracking where the thefts are occurring and what is being stolen.
Metal theft is on the rise, largely linked to soaring commodity prices. Copper is roughly 30 percent more expensive than it was five years ago, for example, while steel spiked 200 percent during the pandemic, though prices have settled down significantly in the last two years. As such, thieves have taken to swiping everything from drain covers to miles of copper cabling. The conduits that keep people connected, the infrastructure that civilization depends on—it’s all fair game for a metal bandit. The disruption caused is often totally disproportionate to the face value of the stolen material.
As the world electrifies and we depend more and more on machinery packed with copper, steel, and precious metals, this theft is becoming more serious. Meanwhile, victims are left wondering—isn’t there any way to stop it?
To start, please return the Metal Theft Tracking Sheet to Jason Wong at jwong@redpointdevelopment.com
The Metro Chamber is meeting on March 28th at 2 PM at their office, 212 E. Broadway Blvd., Tucson, to discuss the metal theft issue.
Please try to attend this important meeting and forward the metal theft form to your colleagues who have experienced metal theft and vandalism.