Big deals cluster at year’s end

Nick McBrideOn the Grow

Updated 12/28/23. The original story (now corrected) stated that Radio Systems Corporation sold the 16.4-acre property for $2.3 million. That should have read the 1.39-acre property at 10424 Petsafe Way.

I hope you had a great Christmas! Looks like many people were able to close on their homes right before the holiday, so I’m guessing this year was special to many.

Two hundred and thirty-eight warranty deeds with a total value of $114.13 million were recorded last week. Sixteen of those had sales prices of over $1 million. That’s the most in a single week in quite a while.

The list of 9 high-price commercial properties is topped by the sale of the Rocky Top Apartments at 1810 Rocky View Way in North Knoxville. Rocky View LLC purchased the dwellings from Poplar Place Housing LLC for $7.25 million.

Apartments on Rocky Top Way

The former Suntrust Bank property at 677 Hill Avenue changed hands. The re-surveyed property which now includes only the property surrounding the existing building and adjoining parking, was sold by Hill Avenue Storage LLC to LR Knoxville Investors LP, a Missouri-based partnership, for $4.13 million.

The third highest-priced transfer includes 12 homes in the Bent Branch subdivision built by Turner Homes LLC. Bent Branch LLC purchased the properties in the neighborhood on East Copeland Road in Powell, from Turner Homes for $3.24 million.

Nick McBride

A new neighborhood, Isabel Estates (phase I), is being built on Brackett Road off East Emory Road. Eagle Bend Development LLC transferred 45 lots to D.R. Horton Inc. for $2.92 million.

Another property in Halls, the now-open, DutchBros Coffee at 7004 Maynardville Pike, had an ownership transfer last week too. 7004 Maynardville Pike LLC sold the property to Coral Vicente Holdings LLC (a California LLC) for $2.45 million.

Just off north Cherry Street, RJ Louis & Company LLC has purchased the property at 2811 John Deere Drive for $2.3 million.

In South Knoxville, the properties around the new medical complex near the John Sevier Hwy interchange are being bought quickly. Clark Crossing LLC sold a parcel of land at 7618 Chapman Highway to BMPC Knoxville LLC, an Ohio company, for $1.3 million.

There were a couple of commercial transfers in the western part of the county too. The Exxon station at 7551 Oak Ridge Highway is one of those. Calloway Family LP sold the convenience store to PB & Sons Property LLC for $1 million.

And the final high-value transfer is 10424 Petsafe Way. Radio Systems Corporation sold the 1.39-acre property to Claystone Capital LLC for $2.3 million.

Lenders kept busy the week before Christmas preparing 329 Trust Deeds with a value of $103.06 million. Ten of the loans were for amounts above 1 million. The highest value loan was funded by Corevest American Finance Lender for $7.1 million. Eastman Credit Union backed the second highest loan of $6.92 million. The rest

We are nearing the end of the calendar year. The three-year comparison chart is now updated through December 22, below.

As the new year approaches, people tend to look at their finances and insurance policies to make sure things are in order. Knox County property owners have a chance to make sure their property deeds are in order by signing up for the FREE Property Fraud Alert System. You will get an email notification if any property in your name is involved in a recorded transaction, giving you a chance to address any issues immediately.

Please note the office will be closed on Monday, January 1, 2024, but will reopen the next day at 8 a.m.

Happy New Year! – Nick


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