May looks to finish strong

Nick McBrideOn the Grow

How can it already be the last week of May 2021? And since I know you’re wondering, there are only 215 days before Christmas arrives again!


The third week of the month is typically a little slower than the first and second weeks, but last week we were right on track, recording a total of 2,152 total documents. Warranty Deeds (property transfers) made up 299 of the recordings and carried a total of $88.8 million. So far this month the total value of warranty deeds is $304.88 million. Last week 10 of those were valued at more than a million dollars, with five commercial properties among those.

Nick McBride

R. Horton Inc., one of the most successful home-building companies in the USA, was responsible for two of the million-dollar property transfers. Horton purchased 18 lots from Mesana Investments LLC for $1.04 million. These lots are in the Coward Mill Subdivision in the Hardin Valley/Karns area. D. R. Horton Inc. also purchased 25 lots in the Avian Forest subdivision (unit 2) from Iron Forge LLC for $1.06 million. This neighborhood is located on E Raccoon Valley Road in North Knox County.

More commercial development is coming to the Northshore Town Center area. Northshore Market Investors LLC sold a 4.1-acre lot on the corner of Thunderhead Road and Boardwalk Blvd, directly across from Northshore Elementary School, to University Health System Inc. for $1.5 million.

A empty restaurant building on Merchant Drive may soon have a new tenant since it was sold last week. BS&J Enterprises LP sold the building to 120 Merchant LLC. The site is located beside the Hooter’s Restaurant on Merchant Drive. We hope to see a new restaurant soon!

The fifth property changing hands with a value over $1 million is just east of the Old City on Jackson Avenue. Boyd’s Group Properties LLC sold the two parcels of property to RR Land LLC for $1.34 million. These are located at 501 E. Jackson Ave.

Lending is still going strong in 2021. So far this month we have recorded 1,679 Trust Deeds with a total of $497.2 million. Last week’s 528 loans carried a total value of $114.03 million, including six that were over $1 million. That’s great news for lenders! The banks funding the million-dollar loans were:

  • Pinnacle Bank – $1.37 million
  • Regions Bank – $1.55 million
  • Bank of TN – $3.30 million
  • ORNL FCU – $3.95 million

Please note that our office will be closed Monday, May 31, in observance of Memorial Day. As we take the day off and enjoy a long weekend, please remember those who have given their lives for the safety of our country. We would not be where we are today without the people who so bravely served, many of whom did not return from battle. We have the greatest respect for them and their families. Our office will reopen at 8 a.m. on Tuesday, June 1.

Look for us on Facebook here. Have a great week everyone!

Nick McBride is register of deeds for Knox County.

 

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