INSIDE TUCSON BUSINESS
By: Roger Yohem
October 29, 2012
Global mining company Freeport-McMoRan Copper & Gold has purchased the vacant American Airlines call center building at 3350 E. Valencia Road for $5.2 million. The 85,000 square-foot reservation center has been vacant since August when it was closed by the airline.
Freeport-McMoRan intends to occupy the space, according to Russ Hall with PICOR Commercial Real Estate Services. Hall and Steve Cohen, both principals with Picor, brokered the transaction for American Airlines.
The facility can serve the mining company’s administrative and related operations “since it is a versatile office and support services type of building,” Hall said.
The mining company’s current office at 6840 N. Oracle Road is listed on the market as being available for lease.
Los Angeles-based Stewart Niles with Travers Realty represented Freeport-McMoRan in the acquisition. Phone calls regarding the mining company’s specific plans for the building were not immediately returned.
The facility, zoned for light industrial use, was built in 2004 on 14.47 acres of land just northeast of Tucson International Airport. Sales documents had listed the property at $7.3 million.
Freeport-McMoRan operates five mines in Arizona at Safford, Morenci, Bagdad, Sierrita and Miami. It is the world’s largest publicly traded copper company.