Chapman Highway Walgreens property sells for $5.09 million

Nick McBrideOn the Grow

I hope you all had a chance to enjoy yourselves over the long weekend. It looks as though there were a lot of people moving into new homes this week since we recorded 199 property transfers and 329 mortgage loans.

The 199 property transfers totaled $64.37 million with the highest commercial transfer being $5.09 million. This large transfer was between ARCP WG Knoxville (Chapman) TN LLC and MDC Costal 11 LLC for the Walgreens property on Chapman Highway. The second-largest transfer was for $2.65 million between Arrowdoor at Castle Terrace LLC and 4121 Whistler’s Way LLC for the Castle Terrace Apartments located just off Dutch Valley Road in North Knoxville.

Nick McBride

Two other large commercial deals took place for properties in the Regas Square area. Depot Properties Inc. sold 8 parcels including parking lots and a building on the corner of West Depot and North Gay Street to Central Hotel LLC for $2.27 million. Also changing hands was the former Goodyear Tire building behind the Regas Square Condos. This was sold by David Dewhirst to YGWI GP for $1.725 million.

West Depot/North Gay Street YGWI GP obtained the highest loan of the week for construction of the former Goodyear Tire building. Bank of Tennessee loaned $3.37 million to YGWI GP. Our second highest loan ($2.15 million) was between 4121 Whistler’s Way LLC and Hunt Mortgage Partners LLC using Castle Terrace Apartments as collateral.

Congratulations to the winners of the Knoxville Area Association of Realtor’s 2019 Awards:

Realtor of the Year: Ryan Levenson of Re/MAX Preferred Properties, Inc.

Managing Broker of the Year: Justin Bailey of Bailey & Co. Real Estate

Affiliate of the Year: David Reynolds of Farm Credit-Mid America

Good Neighbor Award: Cyndi Sweet of LeConte Title

Rising Star: Lauri Figueroa of Realty Executives

Nick McBride is the Knox County register of deeds.

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