Growth continues in Gibbs

Nick McBrideFarragut, Northeast Knox, On the Grow

A new subdivision is coming to Thompson School Road not far from the Gibbs schools. Knoxville-based Messana Investments LLC purchased the property from the estate of Don L. Davis for $1.05 million. Developer Scott Davis is the registered agent for Messana. The Gibbs community is certainly growing!


Real estate transactions and lending in the last full week of August 2020 were a bit lower than expected with the upward trend we’ve been seeing, but all together I still consider it a good week. I’m confident that August’s full month numbers, which we will recap next week, will be higher than August 2019.

Nick McBride

The total real estate transfers for the week came in at 260 with a total value of $73.78 million.

Of these transfers, the highest dollar-wise was between Cookout-Cumberland Ave. LLC and Cookout-Turkey Creek LLC with a transfer value of $1.5 million. The property, located at 11113 Parkside Dr., is the former BB&T bank property.

Another conveyance greater than $1 million was between Dugger Properties LLC and Blackhorse Capital Partners. The Shoffner/Kaltoff Mechanical Services property, located on Wilder Place in East Knoxville, changed hands for $1.38 million.

Shoffner-Kaltoff Mechanical Services property has changed hands.

Lending was down, but we still recorded 553 deeds valued at $167.1 million so that’s not too shabby! Many of the deeds we record are refinance documents since the interest rates are so low these days. In fact, this past week we had 11 Trust deeds recorded that were over $1million including one commercial refinance that was over $30 million!

All of our top lenders can be viewed here.

Please note: The Register’s office will be closed Monday, Sept. 7, in observance of Labor Day. We will resume normal business hours on Tuesday, following all of the health guidelines currently in place.

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Nick McBride is register of deeds for Knox County.

 

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