May opens with over $100 million in transfers

Nick McBrideOn the Grow

I hope you were able to spend this Mother’s Day with loved ones since many people are now vaccinated against Covid-19. The time we have with family and friends truly is precious.

The first week of May ended with 2,133 recordings, which is 400 more than we recorded in the same week of 2020. Of those, 363 were property transfers that came to a grand total of $116.76 million (2020’s property transfer number was 252 — that’s not bad considering the tight restrictions caused by the pandemic). Ten deeds over a million dollars were recorded and three of those were commercial properties.

Nick McBride

The commercial properties that changed hands included the Hardee’s Restaurant located at 150 N Cedar Bluff Road. Hardee’s Restaurants LLC sold the property to The Lottes Family Trust for $2 million.

The former Brown Appliance Parts building and property on the corner of Bernard St and North Central St was sold by Square Properties LLC to Blueprint Group LLC for $1.7 million.

The third commercial transaction was between Maynardville Pike LP and Amerco Real Estate Company. Maynardville Pike LP sold the following three parcels of land: the old Kmart building on Maynardville Highway in Halls; the drive thru restaurant building in the front of the same parking lot; an undeveloped parcel of land behind the Gondolier Restaurant. The total paid for all three was $4 million.

Like the property transfers, the number of loans recorded last week topped 2020’s numbers. In 2020 we recorded 488 loans and in 2021 we recorded 579, with 14 of those loans over $1 million. The banks who funded these 14 high value loans were:

  • Capstar Bank – $1.05 million
  • Pinnacle Bank – $1.3 million
  • United Community Bank – $1.88 million
  • Y-12 Federal Credit Union – $2.95 million
  • First-Citizens Bank & Trust – $4.83 million
  • First Horizon Bank – $5.13 million
  • Mountain Commerce Bank – $6.0 million
  • Old National Bank – $24.38 million

I know that many homeowner’s associations and social/civic clubs are starting to have their first meetings since the pandemic started and may need a speaker. I’d be happy to come talk to your group; call the office if you’d like to schedule something: 865-215-2330.

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

Nick McBride is register of deeds for Knox County.

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