The end of June is upon us, and it seems the month passed so quickly. Even with many families on vacation, the office still recorded 1,471 documents during the last full week of June. Trust deeds made up 389 of those documents with a grand total of more than $124 million.
There were 15 loans over $1 million with the two highest, $5.22 million and $4.63 million, funded by First Volunteer Bank. There was one loan in the $3 million range, funded by FirstBank for $3.2 million. The others were:
We recorded 290 warranty deeds with a combined value of more than $114 million. There were 11 property transfers with price tags over $1 million, and five of those were commercial properties.
The sale of the Primrose School of Farragut on Coach Road had the highest value, and the sale of the Primrose School of West Knoxville on Peters Road came in a close second. Both properties were sold by RL&A Real Estate II LLC to East TN RE Holdings Inc. The Farragut property at 120 Coach Road was purchased for $5.58 million and the Peters Road property was purchased for $5.15 million.
Nick McBride
Just down the road from the Primrose School on Peters Road, another property changed hands. The office building located at 220 S. Peters Road was sold by BRCM LLC to Graveston LLC for $1.2 million.
The Highland Ridge subdivision in South Knoxville, not far off Chapman Highway on Highland View Drive, is ready for development. D.R. Horton has purchased 26 of the lots to begin building the neighborhood. Highland Ridge Development LLC sold the lots to D.R. Horton Inc. for $1.15 million.
The final commercial property transfer over $1 million is at the corner of Dutchtown Road and Cogdill Road. This currently unimproved property was sold by Pellissippi Pointe Partnership to Dutchtown Storage TN LLC for $1.1 million. I’m sure construction will begin soon.
Our three-year comparison chart shows a definite change in the year-to-date number of deeds recorded but the values are still climbing.
Please note that our office will be closed on Monday, July 4, in observance of Independence Day. Have a happy and safe long weekend!
Nick McBride is register of deeds for Knox County