A $900,000 mortgage from McIlroy Bank & Trust is being used to finance the construction of a warehouse complex in Fayetteville.
The mortgage was issued May 1 to Fayetteville Warehouse Co. LLC. The mortgage was signed on behalf of the company by Kenneth Mourton and Rayburn Green, both Fayetteville attorneys.
The Fayetteville Planning Commission approved a large-scale development plan May 12 for the company to build about 25 storage spaces on the 8.1-acre plot of land. Plans include 66,500 SF of warehouse space and 2,500 SF of office space. The storage units range in size from 35 feet by 40 feet to 80 feet by 50 feet.
The warehouse complex will be located just north of Cato Springs Road and just west of Garland Avenue.