During the week of April 4-8, the office recorded a total of 1,823 documents, including 471 trust deeds and 257 warranty deeds. The total value of all property transferred last week was over $111 million with the highest commercial transfer being $4.75 million. The sale between Riverwalk Investors LLC and Knoxville Student Property LLC included a full block of property. Just over the Henley bridge in South Knoxville, the property includes three buildings, parking lots and undeveloped land on the corner of Chapman Highway and E. Blount Avenue. Look for more student housing to start going up soon.
Another group of apartments came in as the second highest property transfer. The Sutherland Flats apartments were sold from Sutherland Flat, LLC to Rand at Sutherland LLC for $3 million.
Nick McBride
The third most valuable property to change hands is in West Knoxville between Mabry Hood Road and Lovell Road. The Land Oak Office Park located on Kingston Pike just across from Home Federal Bank was owned by MLC Properties Partnership who sold it to CB Holdings LLC for $2.9 million.
Also in West Knoxville, neighbors in the Westland Oaks subdivision can look for more homes to be built — Mesana Investments LLC sold 36 lots in Westland Oaks to Ball Homes LLC for $2.35 million.
In North Knoxville, JMB Investment Co. LLC sold the triangular parcel at the intersection of Dry Gap Pike and Fountain City Road with an address of 1280 Dry Gap Pike, site of a recently opened Dollar General Store. The buyer, Granite Properties LLC purchased the property for $2.26 million. And the last commercial property to change hands is located on Buffat Mill Road, close to Love’s Creek Rd. Clayton HC Inc. sold the 70-acre property to RD Buffat LLC for $1.3 million.
Lenders were busy with closing documents for the 471 loans that had a value over $131 million. The highest loan of the week was $5 million and was funded by Pinnacle Bank. The second highest amount borrowed was $4.3 million and was obtained from First Horizon Bank. The other loans over a million dollars were funded by:
So far growth in 2022 seems to be full steam ahead in both real estate transfers and loans attained. Can you believe we’ve done 556 million dollars more in property sales so far in 2022 than in 2019?! Wow.
Please note that the Register’s office will be closed tomorrow, Friday, April 15, in observance of Good Friday. I hope you each have a blessed Easter weekend.
Nick McBride is register of deeds for Knox County.