Correction! Update! The property that sold for $3.5 million was not Gordon Food Services. It was the nearby shopping center that houses Maple Street Biscuits at Sherrill Hill. We apologize for the error.
December has arrived! The month of holiday festivities, which the employees and I have already started; we’ve had our holiday luncheon and we hosted a holiday breakfast for the City County Building employees, business associates and friends. Our in-house Christmas decorating crew, led by Sandy Merryman, did a great job this year!
We have just a few short weeks until we ring in 2022. The year seems to have flown by — I guess keeping busy really does make the days go by faster. In between the decorating and preparations for the breakfast, the staff still recorded a total of 2,072 deeds for the week, rounding out the month of November with a total of 7,914 deeds. Warranty deeds made up 15.42 percent of all deeds for November, with a grand total value of $542.85 million. Trust deeds were 27.17 percent of all deeds in November and had a combined value of $710.55 million for the month. Not too shabby!
Last week December rolled in, and for the week we recorded 587 loans with a combined value of $170.39 million. The bank funding the highest value loan was Southeast Bank advancing $25.17 million. The other nine banks with individual loans of $1 million or more were:
The 294 warranty deeds recorded were worth $58.22 million. Of those, 11 were sold for $1 million or more with only five of those being commercial property sales.
Nick McBride
Hardin Business Park is the location of the highest value property transfer of the week. Aspire Foundation sold the 23.87-acre property with a 152,000 square foot manufacturing building, located at 2565 Bertlekamp Lane, to SCAPA Tapes North America LLC for $14.46 million. SCAPA Tapes is a medical device manufacturer.
The week’s second highest value property sale was the shopping center that includes Maple Street Biscuits at Sherrill Hill. It sold for $3.5 million. Another West Knoxville property that sold last week was on Parkside Drive next to the Parkside Detail and Accessories business. The currently undeveloped 10-acre lot was sold from FCA Realty LLC to Harper Properties LLC for $2.47 million.
A third West Knoxville property transfer was for 18 lots in the Westland Oaks subdivision. Messana Investments LLC sold the property to Ball Homes LLC for $1.13 million. Ball Homes will build and sell these properties.
Sav-A-Lot on Holston Drive
Our final commercial property transfer is in East Knoxville. The Sav-A-Lot property at 3840 Holston Drive, previously owned by New Corp Real Estate LLC, is now owned by YDP Real Estate LLC who purchased it for $1.1 million.
The real estate business has been incredible this year. Looking at the figures from our three-year comparison chart, it seems like 2021 will be hard to top, but I’ll keep this going so we can see what 2022 brings. Hopefully this growth will stay right on the same track throughout 2022.
If you need a speaker for a gathering, I do still have a few dates left for December. I am more than happy to present the trends in real estate in your area and Knox County as a whole. I am also available anytime to answer your questions concerning your property or your deeds. Just give me a call at the office at 865-215-2330.
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Have a great week.
Nick McBride is register of deeds for Knox County.