Eight transfers over $1 million

Nick McBrideOn the Grow

The week of Jan 16-20 was another 4-day week for the office as Monday was Martin Luther King Jr. Day. During the four workdays, 968 deeds were recorded including 148 loans and 131 property transfers.

Loans had a total value of $98.4 million with five being for amounts of a million dollars or more. The largest was funded by Summit Community Bank Inc. in the amount of $23.24 million. Three Roots Capital loaned the next highest amount, $16.83 million. Ameris Bank had a $1.54 million loan, Peoples Bank of the South loaned $1.28 million, and Truist Bank funded the last, in the amount of $1 million.

Check out the 3-year comparison chart below to see where we stand.

Last week’s 131 property transfers came to $46.4 million with eight transfers worth more than a million dollars. There were four commercial property sales included in that total. I’m not surprised that three of the high-value commercial properties are in west Knoxville as it’s one of the fastest-growing areas in the county.

The property next to Little Joe’s Pizza in Farragut was the most expensive with a price tag of $3.5 million. Kingston Pike Properties LLC sold the property at 13140 Kingston Pike to Kingston Pike Properties 2 LLC. Part of the property is already being developed.

Just across the street, on the corner of Kingston Pike and Watt Road, is another of the commercial properties to change hands. The last family-owned property on the corner of Watt Road and Kingston Pike has now been purchased by Schaad Companies LLC, which also owns the adjoining lots. Schaad Companies picked up that piece for $1 million.

The third property transfer in West Knoxville was for 33 residential lots in the new D.R. Horton neighborhood,

Towering Oaks, which is off Campbell Station and Fretz/Hatmaker Rd. Mesana Investments LLC sold the lots to D.R. Horton Inc. for $1.97 million.

The last commercial property to change hands is on Kingston Pike near Ebeneezer Road. The undeveloped lot next to and behind Meineke Car Care Center consists of two parcels and approx. two acres. Ten Mile Building sold to Pint Size Investments LLC for $1.6 million.

Have a great weekend!    – Nick

Nick McBride is register of deeds for Knox County.


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