The inside of Smith Ace Hardware. Source: https://www.facebook.com/SmithAceHardware

Smith Ace Hardware on East College Avenue in Decatur is closing.

The company announced the closure on its Facebook page on July 7.

“After 42 successful years, the Decatur store has closed its doors to allow the property to be developed,” the announcement said. “We thank you for your loyalty and your business.”

Smith Ace Hardware also has another location in Buckhead. An employee who answered the phone there, but declined to give his name, said the owners of the hardware store and the building couldn’t reach an agreement about the lease.

He said the building was also “falling apart” and in need of significant renovations.

“We knew we were on borrowed time,” the employee said.

He said Smith plans to open a second location in Marietta.