Kendall Electric buys headquarters for $4.85 million

Nick McBrideOn the Grow

I hope everyone had an enjoyable and safe holiday weekend.

In August, our office recorded 1,339 property transfers which totaled $398.04 million. The largest transaction was the sale of a mobile home park off Oak Ridge Hwy., transferring from MMDI Knoxville LLC to Volunteer Village MHC LL for $5.76 million. Next was the property located at the corner of Montvue Road and Kingston Pike. LeConte Montvue LLC sold the currently vacant property to West Town Point LLC for $4.7 million.

While property transfers and mortgages are a large part of our recordings, we also record many other documents and all these together kept the staff very busy in the month of August. We recorded 2,489 loans that came to a grand total of $688.5 million. The top lenders of the month for loans over $1 million were:

Walker & Dunlap LLC                                      $40.7 million

Central Bank & Trust                                       $31 million

Banterra Bank (Admin Agent)                     $25 million

Home Federal Bank of Tennessee             $15 million

Manufacturers & Traders Trust Co            $7 million

First Century Bank                                           $6 million

Wells Fargo Bank                                              $5.5 million

Southeast Community Capital Corp          $5 million

CBBC Bank                                                          $4.5 million

FirstBank                                                             $4 million

If you’ve been looking for a new home, you know that the market is hot right now and that the properties move quickly. Low interest rates are an enticement for people to refinance their existing loans and we’ve certainly seen many Knoxvillians taking advantage of these low rates. September is starting strong. In the first four days, we have recorded 478 mortgages and 257 property transfers.

Of the $75.2 million in property transfers, the highest value transfer was between McCamy Development and Kendall Electric Inc. for property located at 170 Mabry Hood Road. Kendall Electric Inc. purchased the property for $4.85 million.

The 478 mortgages came to a total of $109.75 million with the top lenders of loans over $1 million being:

Citizens Bank                                                      $6.87 million

Pinnacle Bank                                                    $1.5 million

Home Federal Bank                                         $1.2 million

Our office is open and ready to serve the people of Knox County. We are following the suggested health guidelines to keep both you and our staff safe and healthy.

Don’t forget, we’re on Facebook! Just search Facebook for @KnoxRegister to find us, and while there, please give us a ‘like’ and share the page. Have a great week!

Nick McBride is Knox County register of deeds.


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