What a sad weekend for the folks who were in the direct line of the tornadoes. The devastating news that many people received is heartbreaking, and our hearts and prayers go out to those whose lives and livelihoods have been affected. It’s terrible any time of year but especially this close to the holidays.
In Knoxville, last week was a good one for many people who bought new homes and businesses, making a busy week for the staff. We recorded 1,812 total documents with 584 being new loans and 289 property transfers. The property sales carried a total value of $138.37 million, and we recorded 16 sales over a $1 million with 12 being commercial properties.
Nick McBride
In East Knoxville, the land and building of the new O’Reilly Auto Parts store located at 7308 Asheville Hwy, close to Food City, has a new owner. Belterra Knoxville LLC sold this property to the Cariati Family LP for $2.22 million.
In South Knoxville, one property over $1 million changed hands: The retail center located at 4201 Chapman Hwy (Dollar General & Goodwill are occupants) was sold by Dale Cassidy to JAMESSK Commercial Properties LLC for $2.43 million.
And in North Knoxville, Dalton Holdings LLC has purchased adjoining lots on E. Emory Road. I’m sure you’ve seen Dalton Collision if you’ve been out that way, well, Dalton Holdings now owns that property and the undeveloped property adjoining it. The lot on which Dalton’s Collision sits (718 E. Emory) was sold from Wilkerson Inc. to Dalton Holdings LLC for $3.3 million, and the undeveloped lot was sold by the Wilkerson Trust to Dalton Holdings LLC for $1 million.
There were also high value transfers taking place in downtown Knoxville last week. At 200 W. Jackson Avenue, JFG Partners LLC sold the iconic JFG Flats building to Jackson Central Partners LLC for $12.95 million. Knoxville folks and visitors to our city will recognize this building by the JFG Coffee sign that remains on its roof.
Just down the street, RR Land LLC sold two adjacent lots at 501 E. Jackson Ave to Twofold Purchase GP for $1.34 million. This property is currently undeveloped land next to the Hall of Fame overpass.
In turn, Twofold Purchase GP sold its 50% interest in property located at 250 Patton Street to RR Land LLC for $1 million. This property is located on both sides of Willow Avenue, just two blocks away from the Jackson Avenue property.
Moving on to West Knoxville, Knoxville Vison Investors LLC has purchased two properties — one is on Weisgarber Road that is home to Campbell, Cunningham & Taylor, and Southeastern Retina Associates. This was purchased from Knoxville Eye Associates GP for $6.54 million. The second property they purchased was sold by Renaissance Eye Associates LLC for $1.58 million. This is the Campbell, Cunningham & Taylor location in the Renaissance Farragut condominiums in the Farragut community, located at 12744 Kingston Pike #108.
Another West Knoxville building was sold in the Weisgarber/Papermill Area. TAU Atlantic LLC sold the building located on the hill behind the ever popular McKay’s Bookstore to Orion Knoxville T LLC for $5.05 million. 135 Circle Lane is currently the location of the Social Security Office of Disability Adjudication and Review (ODAR).
Moving even further west, the property leased to Academy Sports has a new owner. ASO Knoxville LLC has sold the property they’ve owned since 2012 to Spirit Master Funding X LLC for $11.1 million. The address, in case you might need to pick up some Christmas gifts, is 145 Moss Grove Blvd.
And our last commercial property sold last week was in the Farragut community, just off Campbell Station Rd. The Quality Inn at 11717 Campbell Lakes Drive was sold by Campbell Hospitality Inc. to Strive Hospitality Inc. for $1.57 million.
Lenders and title companies were busy last week as well, with 589 loans that carried a grand total value of $169.8 million. Of these, we recorded 12 loans over a million with Home Federal Bank of Tennessee funding the largest loan of $27.5 million. NBKC Bank funded a loan for $10.5 million, and Y-12 Federal Credit Union funded a $10.36 million dollar loan. Those were the largest of the loans. The others were:
With a couple of weeks left in 2021, the three-year comparison of the value and numbers of both warranty deeds and trust deeds will still have new numbers. As of last Friday, December 10, 2021, the following table shows the huge increase in both sales and loans. I hope this continues into 2022!
The school holiday begins this week with different schedules so please drive carefully through school zones. Christmas is almost here! Luckily there are a few days left to get the shopping done. Have a great week! And don’t forget, we are on Facebook! Just go here, then please like and follow our page.
Nick McBride is register of deeds for Knox County.