Happy New Year to you and yours! I hope that 2022 is filled with good for all of you.
The last week of the year was a busy one for banks, title companies and our office. In just three days we recorded a total of 1,535 deeds. Of those, 223 were warranty deeds, which had a value of $160.64 million. There were 23 sales over $1 million, 20 of which were commercial properties and four of those were sales over $10 million.
Nick McBride
The highest value property to change hands was the Franklin Square office/condo buildings in West Knoxville, which were sold by Franklin Square LP to FSQ LLC for $16.34 million.
Woodgate Apartments LTD LP sold the Woodgate Apartments on Cedar Lane in North Knoxville to Woodgate Multifamily Partners LLC for a cool $13.9 million.
The old Kroger shopping center on Western Avenue brought a large sum. The Benson Trust sold the property at 4442 Western Ave, which is currently anchored by Club 4 Fitness and other small shops and offices, to Manki 1 Investments LLC for $10.25 million.
And our last sale over $10 million is in Hardin Valley. Primos Land Company LLC purchased the 248-acre property at 3324 Swafford Road for $10 million. I’m sure construction and clearing will begin soon on that valuable tract of land. Hardin Valley is sure growing.
Also, in the western part of the county, Tusculum University sold the property occupied by the university at 1305 Centerpoint Blvd. to Knoxville TVA Employees Credit Union for $5.5 million.
Another property in that same vicinity was one of four properties that sold for more than $4 million. Furrow sold the property located at 10024 Investment Drive to BC Terminals LLC for $4.4 million. Also in deep west Knox County, the Briggs Trust sold a 94-acre tract of land located at 1928 Marietta Church Road to Briggs Station I LLC for $4.2 million
Also in west Knoxville, Advantage Place Partnership sold the building and property located at 308 N. Peters Road to the Cazana Family (Pellissippi) General Partnership for $4.5 million.
In North Knoxville private, undeveloped land located at 4515 and 4714 W. Emory Road has been sold by the Bell Trust to Primos Land Company LLC for $4.66 million.
And, JFS Homes et al sold 30 lots/homes to Iris Holdings of Florida LLC for $4.62 million. Iris Holdings of Florida LLC didn’t just purchase property, it also made two sales. The first was to Parkside Capital LLC for $1.69 million. This included three properties, and the corporation sold nine properties around town to Helping Houses of Knoxville LLC for $1.7 million.
In the Ritta community, a 95+ acre tract of currently undeveloped land between Washington Pike and Rutledge Pike, 6513 Babelay Road, was sold by Hardin Valley Partnership GP to S & E Properties LLC for $1.25 million.
Also, to be noted in sales over $1 million, was the sale of 5514 and 5502 Middlebrook Pike by Buckwheat LLC to D & V Land Partnership for $3 million. This is in the industrial section of Middlebrook Pike and includes various businesses.
On Northshore Drive an 11-acre property has been sold. E Loy sold the property at 12320 Northshore Drive to Wilko LLC for $2 million.
In East Knoxville, 50 acres located at 9124 Carter Mill Road were sold by Carter Mill LLC to Oakland LLC for $1 million.
On Liberty Street, Camellia Properties I LLC sold 1700 & 1704 Liberty Street to Breakthrough Corporation for $1.1 million, and David Dewhirst sold property at 400 Georgia Street to Friendly Town Development LLC for $1.35 million.
A lot of folks were very busy last week! In lending we recorded 570 loans with a total value of $171.7 million. The largest amount loaned was by Monticello Funding BTH-56 Mezz for $61.08 million. They also funded another large loan in the amount of $10.27 million. Commercial Bank was the lender of a $17 million loan, and Capstar Bank funded a $10.4 million loan. Primos Land Company LLC funded an $8 million loan, and the rest of the high value loans are listed below:
Now we can recap the year: The total number of documents recorded (of all types) for 2021 was 105,841. The total number of sale documents recorded for the year was 15,528, and the total number of loans recorded for the year was 29,170. So, you can see, we record many other documents each year besides warranty deeds and trust deeds. Here is the 3-year comparison for both sales and loans with 2021 coming in with huge increases over the past two years.
2021 will be hard to beat! I hope you have a great week and don’t forget that school is back in session so please drive carefully in those school zones!
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Nick McBride is register of deeds for Knox County.