Self-storage units are hot investments

Nick McBrideOn the Grow

I hope you’ve had a chance to get over to the Tennessee Valley Fair this week but if not, there are still a couple of days left. My family had a good time, especially the kids!

The reporting week included a holiday. The total number of deeds recorded was 1,187, with 202 Warranty Deeds and 268 Trust Deeds.

Nick McBride

The week’s total value for the loans obtained was $84,146,174 million with only five loans over a million dollars: Renasant Bank funded the largest loan of $9.42 million; Commercial Bank funded a $4.17 million loan; Bridgewater Bank lent $3.13 million; Truist Bank lent $2 million; Southeast Bank funded a loan for $1.2 million.

Property transfers made up 202 of the total deeds, and we recorded transfers of six commercial properties valued at over a million dollars. The total value of all property sales last week was $203,147,705 million.

Self-Storage facilities are very popular investments it seems; another two were sold last week. The highest value transfer of the week was one of those – this one is on Deane Hill Drive in the Bearden area. MW Knoxville TN LLC and CAE Properties II LLC sold the Storage Sense self-storage at 6410 Deane Hill Drive to TREA SP V Knoxville TN LLC for $15.5 million. And the other: Hillview Avenue CCSS LC sold the property located at 145 Hillview Ave, which is just off Rutledge Pike, to SL Knoxville Storage LLC for $12.8 million.

Click Funeral Homes on Middlebrook Pike and in Farragut, as well as the Farragut Office Park, have been sold to Heritage TN LLC for $6.166 million. This property transfer was recorded the previous week and was left off last week’s article.

Another valuable property transfer included two parcels: Titan Development-Joint Venture and a private family trust together sold two properties in the northern part of the county. 1328 E Bull Run Valley Drive and 8803 Andersonville Pike are now owned by KOSF II-Knoxville LLC who purchased both for $3.05 million.

On Tazewell Pike in East Knoxville, JMB Investment Co. LLC sold the property on which the new Dollar General Store is located at 6035 Tazewell Pike. This property, some of which is undeveloped, was purchased by the JBL Real Estate Group LLC for $2.19 million.

In East Knoxville, the outparcels around the new Amazon facility are filling up. The Don Chuy’s Fresh Mex and Cantina property changed hands between 2904 Knoxville LLC and 88 Investments LLC. 88 Investments paid $1.51 million for this property. And the final commercial property on the list from last week is the $1.5 million dollar property transfer between Knoxville Retirement Investors LTD to JA Murphy Group LLC. The property purchased is currently undeveloped and lies on Gleason Dr between the Cedar Hill Apartments and Echo Ridge Retirement Community.

The three-year comparison chart has been updated as of 9/9:

Don’t forget that we now offer a very important and FREE Property Fraud Alert Program. Property Fraud is a growing issue across the country, and I wanted to make sure the citizens of Knox County have peace of mind when it comes to the ownership of property. This program will immediately alert you via email if any transactions take place in your name or with any of the addresses that you entered. Just follow this link, click on Register Here and follow the prompts.

Here’s a photo carousel of properties transferred:

Have a great weekend!

Nick McBride is register of deeds for Knox County.

 

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