The first week of March 2020 has ended and daylight saving time has begun. We rounded the week off with 277 property transfers and 448 loans recorded.
Property transfers came to a total of $76.7 million. The largest of the week being the sale of properties known as Woods Place Condominiums, Dottie’s Place Condominiums and Merinda Place Condominiums. These properties were formerly owned by The E. Doyle Johnson and Dorothy K Johnson Trust and are now owned by RAND 938 LLC with a purchase price of $4.5 million. The properties are in the Halls area on McCloud Rd. Rand 938 LLC also had one of the largest loans recorded last week, borrowing $3.82 million from Mountain Commerce Bank for the purchase.
Calloway Real Estate had two of the highest property transfers. Calloway-Hunt Real Estate LLC sold two Knox County properties to Calloway Real Estate for a total of $2.5 million. One of the properties is the Exxon on the corner of Tazewell Pike and East Emory Road and the other is the Exxon on the corner of Kingston Pike and South Cedar Bluff Road.
Two other large transfers of note: Oak Park Communities LLC sold the Oak Park Community mobile home park on Mynatt Road to Stonetown Oak Park LLC for $1.25 million. And, Prima Properties sold the property located at 3029 East Gov. John Sevier Hwy, currently the home of Global Testing Labs, to Ronald Wayne Monday for $1.25 million.
Lending for the week ended with a total of $108.92 million. The highest loan recorded for the week was a refinance loan between Calloway-Hunt Real Estate LLC and First Horizon Bank in the amount of $6.583 million. Three Knox County properties were included with the collateral for this loan: 7323 Clinton Highway (E-Z Stop Convenience Store/Baskin Robbins and 8605 & 8615 Walbrook Dr. (Taco Bell and EZ Stop Convenience Store/Subway).
Nick McBride is register of deeds for Knox County.