Gay Street transfers top weekly report

Nick McBrideInside 640, On the Grow

Gay Street property transfers top the list this week!


September has been good to us so far with Vols winning their season opener, fall’s arrival and property sales and loans still going strong. We did see a slight decrease from last week’s number, but I’d say that $89.18 million in property transfers is still great.

Nick McBride

There were 289 property transfers making up the $89.18 million and that’s only 33 fewer than the third week of the month. Of those, the highest value transfer was for the Kress Building on Gay Street. It changed hands between 417 Gay Street, LLC and Jackson Central Properties LLC for $5.8 million. Plans for the building include a restaurant and office space.

The second highest value property transfer also was a property on Gay Street. This one a bit further North at 304 Gay Street. The Buzz Naber’s Dental Studio changed hands between Clarence Nabers Sr. and Master 02 300 Gay St LLC for $2.8 million. It’s great to see that even in this pandemic, the downtown area is still holding strong.

As you probably know, the Hardin Valley community is very desirable for families and continues to grow. Last week 38 lots in Phase 3 of the Hayden Hills subdivision were sold by Hardin Valley Farm Development Inc. to Clayton Properties Group Inc. for $2.7 million.

The other commercial property transfers over $1 million included:

The Wendy’s Restaurant property on Merchant Drive sold by WEN Acquisitions Knoxville LLC to Richard Mosian for $2.19 million.

The Dollar General Property located at 8004 Millertown Pike was sold by JMB Investment Co LLC to Vincent and Joyce LaFranco for $1.47 million and,

Arthur Place Apartments located on West Fifth Avenue was sold by JFS Homes to Mockingbird Homes LLC for $1.02 million.

In lending, 541 loans were recorded totaling $130.75 million. This was 100 fewer loans and $40 million less than the previous week but these are still great numbers.

The lenders of the highest dollar loans were:

  • Pinnacle Bank – $5 million
  • Insbank – $2.9 million
  • Southern Bank – $2.1 million
  • Volunteer State Bank – $1.99 million
  • First Horizon Bank – $1.49 million

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

As always, we will be open and available to record and report all real estate activity to our Knox County citizens. Enjoy this week’s fall temperatures and Go Vols!

Nick McBride is register of deeds for Knox County.

 

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