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Bill Freehling is a business writer for The Free Lance-Star and Fredericksburg.com. This blog is on Fredericksburg-area business. Send an e-mail to Bill Freehling.

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Martz Group facility sold to local businessman

The Martz Group’s long-time home in Spotsylvania County was sold this morning to the president of Payne Trucking.

Daniel E. Payne bought the 10-acre property at 10411 Hall Industrial Drive for $1.2 million. The site includes a 26,480-square-foot building. Payne Trucking will move its dump-truck division to the site over the next few days and lease part of the space back to Martz.

A subsidiary of the Martz Group—which runs bus tours, charters and regular routes—purchased the property for $500,000 in 1984, according to Spotsylvania property records.

Martz CEO Craig Smith said the property, which is visible from Interstate 95, is plenty big for both Payne’s dump-truck operation and his company’s bus business. He said Martz will continue with business as usual.

Last week Daniel Payne sold his firm’s tractor-trailer and brokerage divisions to Pennsylvania-based Napa Transportation, which will lease the space Payne Trucking had been using for its dump-truck business on Hudgins Road in Spotsylvania. That sale led Payne to look for another property where he could run the dump-truck business.

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Permalink: http://news.fredericksburg.com/businessbrowser/2011/01/28/martz-group-facility-sold-to-local-businessman/

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