Big sales reflect confidence in Knoxville

Nick McBrideOn the Grow

Fall has arrived (I can tell by my yard). The leaves are falling but the real estate business isn’t falling off at all!

The first full week of October was a week full of high value property transfers! Notably we recorded the transfer of the Hotel Knoxville on Hill Avenue, which was sold by BSPRT Knoxville Owner LLC to Melrose Knoxville LLC for $16.8 million. That’s a big investment, so I’m sure exciting things are to come!

Nick McBride

Another notable property changing hands was the mega-mansion Villa Collina. Villa Collina LLC sold the property to Resolution Systems LLC for $10.5 million. As you probably know, this is the largest residence in the whole state!

We also had a transfer that included four properties which make up the block including Jason’s Deli on Cumberland Avenue. These properties were transferred from Starboard Properties Four LLC to GEDR Knoxville Project Owner LLC for $8 million.

Two other commercial property sales over the million-dollar mark were Leconte Development’s sale of the Tire Discounters property on Chapman Highway to the Daryl McCurry Trust and the Christopher Miller Trust for $3.25 million and the sale of the Arby’s located on Millertown Pike and Love’s Creek in East Knoxville. That property was sold by SS Millertown LLC to Norwood Estates Inc. for $2.23 million.

Tire Discounters

In all, we recorded 307 property transfers that came to a total of $121.1 million dollars which is $6 million more than last week. A good week!

In the lending arena the totals increased by $14 million over the previous week with 595 recordings equaling $176.45 million. The lenders of loans over $1 million were:

  • First Horizon Bank – $29.05 million
  • Home Federal Bank of Tennessee – $3.0 million
  • Southern Bank – $2.76 million
  • UT Federal Credit Union – $1.32 million
  • Morgan Stanley Private Bank NA – $1.3 million
  • Pinnacle Bank – $1.27 million

The full list of top lenders can be viewed on our website here.

As always, our office is open and available to record and report all real estate activity to the citizens of Knox County. And, for your convenience, we do accept deeds by mail with quick return service.

Mail them to Knox County Register of Deeds, 400 Main Ave, Ste 225, Knoxville TN 37902. All originals are returned to you. We will be happy to provide recording costs if you’ll call 865-215-2330.

Don’t forget, we’re on Facebook! Just search Facebook for @KnoxRegister to find us, and while there, please give us a ‘like’ and share the page. Have a great week!

Nick McBride is register of deeds for Knox County.


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