Western Plaza sells for $65 million - Knox County Register of Deeds

During the last full week of June, we recorded a total of 1,904 new documents. On the financing side, 398 new trust deeds were recorded on land with a cumulative value of $195.67 million. This is 100 more instruments than the week prior, but a mere $7 million in additional value. There were 19 mortgages valued at $1 million or more and 3 loans valued at over $5 million. Both of these metrics are the same as the week of June 19^th. MidRiver Funding LLC backed the largest mortgage of the week at $39.18 million. Home Federal Bank had the second-highest-value loan at $10.00 million, and WesBanco Bank funded a loan for $6.60 million. The other high-value mortgages are outlined below:

There were 283 property transfers presented as warranty deeds with an aggregate value of $202.00 million. This reflects nearly 70 more property sales and $95 million in additional value compared to the week prior. Twenty-four properties sold for $1 million or more, but only four were commercial transfers. The week prior had five.

The largest property transfer of the week was the Western Plaza at 4315 Kingston Pike in Bearden. The shopping center is anchored by long-term leases with Fresh Market and Jos. A Bank, and Runners Market. It also holds DosBros Fresh Mexican Grill, as well as several other niche shops. WP General Partnership sold the plaza in its entirety for $65 million. We have not seen a commercial sale of this value in quite some time that wasn’t a multi-unit residential complex. The new owner is IVT Western Plaza Knoxville 1031, LLC.

In North Knoxville, the Krystal fast food restaurant changed hands in Halls. Couloubaritis & Couloubaritis Partners purchased the business located at 6725 Maynardville Pike. Preferred Premium Properties, LLC collected $1.21 million on the sale.

Our next large sale is on Bearden Hill, a few miles further west than the transfer of Western Plaza. The commercial building next to Brandon’s Awards & Engraving changed hands at a cost of $1.18 million. Cap TN Beard, LLC, purchased the property from Size7, LLC.

The last high-value transfer was also in West Knoxville. The house at 7624 Gleason Drive was sold by a private party. Situated beside Truist Bank and zoned commercial, the property was purchased by Fillauer Land Tennessee, LLC for $1.09 million.

The year-to-date comparison chart has been updated through June 26, 2026:

We have a Property Fraud Alert Program in place for all Knox County residents. Once registered, you will be notified via email only when documents are recorded in the name(s) you enroll. This allows for quick action if necessary. To sign up for this free service, visit: https://alertme.knoxrod.org and follow the prompts.

Have a great weekend!

Nick

Nick McBride is the Register of Deeds for Knox County.