The third week of the month brought us great weather and it also brought increased property sales and increased lending. So, it was a good week!
Property sales were up over the slower second week of September by $28 million! The 322 property transfers came in at a total value of $93.64 million with the largest commercial sale coming in at $4.5 million. Property in the Forks of the River Industrial Park, specifically 5050 S National Dr, which is currently home to the Kelvion Corporation, changed hands from SRA LLC to Diversified Industrial Properties LLC for $4.5 million. Kelvion opened its doors in 2019 to make industrial heat exchanger equipment.
Nick McBride
There’s more development coming to the Coward Mill Subdivision in the Hardin Valley area. D.R. Horton Inc. has purchased 34 lots from Mesana Investments LLC for $1.938 million. And our third highest value property transfer was for the property of the CVS pharmacy on Northshore Drive in the Rocky Hill community. The former owner, Richport Net Lease LLC, sold to OREOF19 BR LLC for $1.8 million.
As I mentioned, we did have an increase in lending over both the first and second weeks of September. This week 645 loans were recorded for a total $171.48 million. The largest of these was loaned by JLL Real Estate Capital LLC in the amount of $15.4 million.
The other lenders of loans over $1 million for the week were:
- Dieterich Bank – $7 million
- First Volunteer Bank – $6 million
- CIBC Bank USA – $2 million
- First Horizon Bank – $1.64 million
- Y-12 FCU – $1.44 million
- Security Federal Bank – $1.264 million
- First Century Bank – $1.24 million
For more details on the lending side of real estate, our top lenders can be viewed at: https://knoxcounty.org/apps/top_lender/
As always, we will be open and available to record and report all real estate activity to our Knox County citizens. Enjoy this beautiful transition into fall. Please wear your masks for your safety and the safety of those around you.
Nick McBride is Knox County register of deeds.