Parking lots are top sellers

Nick McBrideOn the Grow

Hi: I hope you had a good holiday weekend!

Nick McBride

The office was closed for business on both Thursday and Friday, but we still recorded 881 documents. Trust Deeds were 205 of them with a total value loaned of $65.8 million. Only four loans were over a million dollars, the largest being funded by East West Bank for $12 million. Home Federal Bank of Tennessee funded $6.4 million, FirstBank $5 million and Rocket Mortgage $1.16 million.

Property sales made up 163 of the total documents and had a value of more than $80 million. Turns out that downtown parking lots are sought-after and are a big-ticket item! Three were sold last week.

Western Avenue Realty Company sold the parking lot at 607 Main Street to Cadillac Sixteen LLC for $1.1 million.

427 Walnut Street

Vector Knoxville LLC purchased two adjoining lots at 416 Locust Street and 427 Walnut Street. The lots were owned by different companies – 407 Walnut Street was sold by Walnut Parking Investors GP for $2.09 million and the adjoining lot, 416 Locust, was sold by Daylight Partners LLC for $1.48 million.

Close to downtown in East Knoxville, a property on Boruff Street has a new owner. 1407 Boruff St LLC sold the 3.57-acre property with three buildings, which you can see from I-40 (close to Cherry Street), to Realty Income Properties 19 LLC for $2.55 million.

Amherst Road warehouses went for $12 million

In West Knoxville, two properties located on Amherst Road were included in the million-dollar property sales last week. The Cazana Family DCP General Partnership sold the industrial warehouse buildings located at 1540 Amherst Rd to BRIKIP LLC for $12 million.

The other Amherst Road property transfer was between Eagle Bend Development LLC and D.R. Horton LLC. 49 lots in the Spring Lake Farms Subdivision were purchased by D.R. Horton for $2.7 million. Construction has begun.

The rest of the year is sure to fly by for most of us – especially those who are buying new homes and moving right here during the holidays. Our three-year comparison chart below brings us up to date as of 11/25. It’s been a busy year for us!

I hope you have already heard about our Property Fraud Alert System but if not, it’s a FREE service offered by our office that will inform you via email if anything happens to be recorded in your specific name or address. We won’t contact you for anything else and your private information is not shared with anyone. To sign up for this very important program, just follow this link or go to: then click on Register Here. Follow the easy prompts to give you peace of mind concerning your most valuable investment.

Have a great weekend!    – Nick

Nick McBride is register of deeds for Knox County.


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