Company Buys Building
by June 30, 1997 12:00 am 64 views
Mark and Laura Schaefer of Fayetteville bought the 15,000-SF Metro Roofing Supply building in the Springdale Industrial Park on May 27 for $295,000 ($19.66 per SF).
Schaefer is the branch manager for Arkansas Packaging Products at 1936 Pump Station Road in Fayetteville. The company is based in North Little Rock and opened in Fayetteville last year. The company also has facilities in Paragould.
Schaefer bought the building at 2150 Ford Ave. from Donald and Tommi Willard who financed $255,000 of the purchase price with a mortgage to Schaefer. The 15-year mortgage carries a 9 percent interest rate.
Schaefer plans to lease the building to Arkansas Packaging Products. The company will move from its current building to the building in Springdale at the end of July.
The Willards bought the building April 15, 1994, for $266,000 from Terry and Christy McConnell, who had bought the land from the city of Springdale in 1992 and constructed the building.
Metro Roofing Supply was bought by Cameron Ashley Building Products of Dallas in December and moved to a 30,000-SF building in Lowell.