Second week of May closes over $200 million

Nick McBrideOn the Grow

I hope everyone had a good weekend. We at the Register’s office are mourning the loss of one of our former colleagues, Linda Barber. Linda worked in this office for 40 years and has been greatly missed since she retired. Linda was a good friend and her absence in the lives of those who loved her will be difficult. Please say a prayer for her family.


Our office was busy last week, recording a total of 2,116 documents. 567 of those documents were trust deeds (loans) with a total dollar amount of $200.6 million. Of those, 336 were property transfers (warranty deeds) that came to a total of $99.3 million dollars. Seven of the property transfers were over $1 million dollars, and three of the seven were commercial property transfers.

Nick McBride

The first to be mentioned was a $1 million transfer between Speedway LLC and Wilbanks LLC. Speedway sold the property with the address of 1328 E. Raccoon Valley Rd, which is currently undeveloped land flanked by Interstate 75 on one side and Volunteer Park Family Campground on the other.

The second high value transfer was on the east side of Knoxville at the corner of I-640 and Millertown Pike. Wen-Lowe’s Real Estate LLC sold the property, 5011 Millertown Pike, to Barry L. Mears (a resident of Florida) for $2.7 million. The property is right next to Cracker Barrell and Sonic Drive-In. A Wendy’s Restaurant is currently being constructed on the property.

And the third commercial property changing hands was on Gay Street in downtown Knoxville. 500 Block LLC sold two properties: 516 S. Gay St, Ste 100 and 524 S. Gay, Ste 101. These properties which are currently leased to The Aveda Institute and KoPita Vegan Restaurant are now owned by Ilana Brodt LLC and were purchased for $4 million dollars.

The number of high value loans obtained was double that of the million-dollar property sales with 15 loans coming in at more than a million dollars. The lenders of these high value loans were:

  • People’s Bank of the South – $1 million
  • TNBank – $1.7 million
  • Southern Bank – $2.2 million
  • US Bank – $2.3 million
  • Truist Bank – $2.5 million
  • First Bank – $4.0 million
  • Mountain Commerce Bank – $4.5 million
  • Citibank – $6.8 million
  • Citizens Bank – $59.9 million

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

Nick McBride is register of deeds for Knox County.

 

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