Short holiday week produces big sales

Nick McBrideOn the Grow

I hope you all had a wonderful Thanksgiving holiday. It was a real treat getting to spend time with family and friends this year, very different from last Thanksgiving.

The work week was shortened by two days, but even in the three full days, we recorded 1,359 documents. Of those, 223 were property transfers that had a combined value of $93.64 million, and 367 of those were loans valued at $134.68 million.

As for the million-dollar plus property sales, we recorded 15, seven of which were commercial properties. The highest value transfer recorded was $5 million. This was the sale of 9.5 acres of currently undeveloped property in the Northshore Town Center, located at the corner of Boardwalk and Town Center Blvd. Northshore Market Investors LLC sold this valuable property to ASR Northshore TC 1 LLC. I’ve included this visual from Google Maps for you.

Acreage at Northshore Town Center

The second highest property transfer was for nine lots in the Windermere Trails subdivision off Hardin Valley Road. HV West LLC sold these lots to Hardin Valley LLC for $4.08 million. The third highest value sale is also located in Hardin Valley. Hardin Valley Farm Development Inc. sold 30 lots in the Hayden Farms Subdivision on Sam Lee Road to Clayton Properties Group Inc. for $2.06 million. We sure have seen a lot of growth in the Hardin Valley area this year!

Nick McBride

In the Cedar Bluff community, the property of Big O Tires at 1015 Old Cedar Bluff Road is now owned by Dallas Petrol LLC. The Skiff Family Trust sold the property, located behind Weigel’s, for $1.95 million.

Appalachian Land Company LLC sold the warehouse building located at 2622 Texas Ave, which they have owned since 2009, to Distributors Investment Company for $1.52 million.

Another Northwest Knoxville property was also among the million dollar sales: JMB FP Investment Company LLC sold former Deluxe Cleaners property at 206 Cedar Lane to Sidney Liang for $2.37 million.

The final commercial property to change hands was a small apartment complex in South Knoxville, just off Sevier Avenue. The Chambers sold the 24-unit apartment property, located on the corner of Boggs and Jones Streets, to Steps House Inc. for $1.52 million.

The 367 loans include 12 loans funded for over a million dollars. The highest value loan of the week was for $33 million, funded by Grandbridge Real Estate Capital. The others are listed below:

As you can see from the three-year comparison chart below, real estate sales are still going strong. The interest rates remain low so if you haven’t yet checked into refinancing your current loan at a lower rate, there is still time.

Have a great week everyone! And don’t forget, we are on Facebook! Just go here, then please like and follow our page.

Nick McBride is register of deeds for Knox County.

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