Commerce Inc. Mortgages Eight Acres in Springdale
by June 15, 1998 12:00 am 73 views
More than eight acres of land and several buildings along South 40th Street in Springdale are being used to secure a $1.35 million mortgage from Community Bank of Fayetteville.
Commerce Inc. of Springdale received the mortgage April 9. The loan was signed by Terry K. McConnell as president of the company and Christy McConnell as secretary and treasurer.
The loan is secured with property at 190, 228, 244 and 290 S. 40th St. The land includes a 22,262-SF building that houses Central Electric Contractors Inc., Victor Industrial Products and Commerce Construction Company Inc. The building was constructed in 1988 and appraised in 1996 for $1 million.
The property also includes a 27,588-SF warehouse that was built in 1995. The building was appraised in 1996 for $776,950.