Truck Company Mortgaged to Buy Out Partner?s Interest

Northwest Arkansas Truck & Equipment Inc. at 2675 W. Sunset Ave. in Springdale was mortgaged June 1 for $676,608.

The mortgage was signed by Darrel James as president of the company. The loan is secured with four buildings on 10 acres. The money was used to buy a partner’s interest in the business.

The company has been in business since 1967 but has changed ownership several times. The company provides sales and service of large trucks.

Facilities on the property include a 26,760-SF warehouse and service garage that was built in 1978 and appraised in 1997 for $870,200 and a 19,920-SF service garage built in 1977 that was appraised in 1994 for $340,950.