New Year kicks off with strong sales

Nick McBrideOn the Grow

Happy New Year!  I hope 2021 turns out to be a great year for everyone.


The real estate market is still going strong.  In fact, in just four days last week, $76.8 million in property sales took place that included a dozen commercial transactions over $1 million.

Nick McBride

A $4.25 million sale was the highest value transfer of the week.  HLLR LLC sold the Food City property on Asheville Highway to Marathon Realty Corp.

Next on the list is the shopping center anchored by Wing Stop and Panera Bread on the corner of Woodrow and North Broadway in Fountain City.  Lakesedge Partnership sold the property to North Knoxville Properties GP for $4.03 million.

Hardin Valley residents will be getting some new neighbors!  Kirkland Financial LLC sold the property located at 11103 Hardin Valley Road to HV West LLC for $3.9 million. Another group of lots in the Hardin Valley area also sold last week for more than a million dollars. Clayton Properties Group purchased 23 lots in the Hayden Hills neighborhood from Hardin Valley Farms Development Inc for $1.57 million. Hardin Valley just keeps growing.

Two other high value transfers round out the top five. The Bearden Hill Office Condo property, formerly owned by KP Bearden Partnership, was sold to the Thomas Family REI Partnership for $2.9 million. On Asheville highway, AG-Pro and the surrounding lots were purchased by AGNL Tractor III (GA, SC, TN) LLC for $3.03 million.

As for the lending side of things, 492 loans were recorded last week with a grand total of $122.97 million.  The top lenders with individual loans over $1 million were:

  • Bank of Tennessee – $9.21 million
  • Limestone Bank – $3.3 million
  • First Horizon – $2.8 million
  • Pinnacle Bank – $2.7 million
  • Citizens Bank – $2.46 million
  • Mountain Commerce Bank – $1.37 million
  • Home Federal Bank of Tennessee – $1.15 million
  • ORNL FCU – $1 million

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Nick McBride is register of deeds for Knox County.

 

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