New Hope Machine Exercises Lease Purchase

Robert Sites, the owner of New Hope Machine Shop exercised a purchase option on the building leased for three years at 1840 W Wetmore in Tucson. The purchase price was $304,000 for the 4,000 sq. ft. ($76 PSF) for the steel building constructed in 2001 on a 13,049 sq. ft fenced paved lot. The price was negotiated at time it leased.

The building has six grade level doors and was an automotive transmission shop prior to being leased for the machine shop. The building has 200 Amp power, 14 ft. clearance height and is swamp cooled. Located in the county, the property has MU zoning.

New Hope Machine is a private company established in 2003 and incorporated in Arizona. One of its primary customers is Raytheon.

Tony Reed of Long Realty Commercial handled the lease and purchase.

Stites can be contacted at (520) 825-7830. Reed can be reached at (520) 918-5189.