Commercial property sells for $3.4 million

Nick McBrideOn the Grow, West Knox

Now that the election has ended, we can get back to the business of … Thanksgiving and Christmas! The housing market is as hot as the most popular holiday toys, so if you are thinking of gifting yourself a new home, you might want to start your shopping a bit early! In fact, 341 properties with an overall value of $97.29 million officially went off the market last week.


Congratulations to the new property owners!

Nick McBride

There were only a couple of commercial property transfers that broke the million-dollar mark last week. One of those was the $3.4 million transfer of 10301 Technology Drive, located in West Knoxville near Pellissippi Parkway. The new owner, UTFI Real Estate LLC, purchased this 2+ acre property from Panther Sark.

The Madison Square Apartments, located at 206 Dahlia Drive in Fountain City, was sold by A Stockton Investments LLC to Cornerstone Capital LLC for $1.2 million.

The number of recordings in both transfers and lending was down compared the first week of October but with the election taking place during the week, that wasn’t unexpected. We still recorded 588 loans that came to a total of $152.06 million.

Single loans in excess of $1 million:

  • Quicken Loans LLC – $1.0 million
  • Commercial Bank – $1.0 million
  • Home Federal Bank Corporation – $1.13 million
  • LYNK Investments LLC – $1.27 million
  • Regions Bank – $1.37 million
  • Renasant Bank – $3.24 million
  • Three Roots Capital – $7.75 million

Thank you to all those who cast your ballot this past week. We are so fortunate to live in the United States where our voices can be heard! We could never have that freedom without the dedication and sacrifice of our veterans who have served in both in war and in peace. Our office will be closed on Wednesday, Nov. 11, in observance of this day set aside to honor our veterans. Your service to our country is appreciated!

Nick McBride is Knox County register of deeds

 

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