Mmm, fresh asphalt

Couple of interesting reads from this week.

I’m surprised that the USPS is still in business…
Is Amazon Plotting an Air War on FedEx? – Don Reisinger – Fortune

What’s the future of the 30-second TV commercial?
Why Ruby Tuesday is putting all its chips on social marketing – Yuyu Chen

Sorry if I don’t pick up the phone some times!
The Not-To-Do List: 9 Habits to Stop Now – Tim Ferriss

Yeah but AMC+Carmike still won’t be as awesome as Knoxville based Regal.
U.S. Movie Theater Chains Consolidating Almost as Fast as CRE Brokerage Firms – Tim Trainor – Costar

Get ready for big changes in student housing at UTK.
Student Housing | As off-campus housing changes communities, asset-rich investors vie for the best properties – Sara Patterson – CIRE

Photo: Knoxville friends, the driveway is finally fixed!

NAI Knoxville Sells Two Tenant Retail Investment Property in Turkey Creek

TurkeyDr_11139_aerial

 

11139 Turkey Drive

DSC_0233

11139 Turkey Drive
Knoxville, TN 37934
Submarket: Campbell Station/Farragut

+/-  10,500 square foot building
Land Area (SF): 42,247 SF
Land Area (AC): 0.97 AC

Frontage: 138′ on Turkey Drive; 133′ from I-40/I-75
Traffic Count: 19,809 AADT on Parkside Dr in Turkey Creek; 112,256 AADT on I-40/I-75
Parking spots: approx. 24
Use: Retail

Sale Price: $1,500,000
Sale Type: Investment
Price/SF: $142.86/SF
Price/Land SF: $35.51/SF
Price/Land AC: $1,546,391.75/AC
Sale Date: April 24, 2015
Recorded Buyer: Cherebshaw LLC
Recorded Seller: William & Marjorie Jones
Buyer Broker: Cushman & Wakefield | Long Island – David Madigan
Seller Broker: NAI Knoxville – Brian Tapp
Occupancy at time of sale: 100%

Tenants: All American Mattress & Iron Tribe Fitness

Sources: Knox County Register of Deeds Office, Costar, Courthouse Retrieval System, KGIS, TDOT

Information Deemed Reliable, But Not Guaranteed

Real Estate News Update

K-Town Swing Puts a Spring in Downtown’s Step
It turns out that swing dancing originated in Harlem in the 1920’s. Other variations include Balboa, Lindy Hop and Charleston.  The Carolina Shag is a variant of the Lindy Hop and the music and dance evolved together as it spread across the country.   Read More

Ellen Turner Dies at 87; Opened Kitchen to Feed the Needy of Knoxville
Ellen Turner, who with her twin sister founded the Love Kitchen, which feeds several hundred people a week and drew national attention, died here on Wednesday. She was 87.   Read More

Outlet Malls Move Closer to Cities in Upending of Rules
The Fashion Outlets of Chicago mall offers a glimpse into the anything-goes future of the retail industry.   Read More

Americans’ Spending on Dining Out Just Overtook Grocery Sales for the First Time Ever
Pass the menu, hold the shopping cart. Grocery stores are finding it harder to make headway with shoppers as a surge in spending at restaurants over the past several months signals Americans are more likely to ditch the brown bags in favor of doggy bags. Read More

University of Tennessee renovating 90-year-old industrial site
A former industrial site on Sutherland Avenue is getting new life as a University of Tennessee support services building.   Read More

Dollywood is still young and fun at 30
Thirty tourist seasons ago as the theme park Silver Dollar City transformed into Dollywood, now-longtime employee Charley Reynolds thinks folks came expecting to see Dolly Parton.   Read More

Kingston Pike Investment Sale Comp – Denton’s

6914 Kingston Pike_Denton's

6914 Kingston Pike
Knoxville, TN 37919
Submarket: Papermill/Bearden/West Town

Photo Mar 16, 2 48 07 AM

+/-  2,695 square foot building
Land Area (SF): 31,265 SF
Land Area (AC): 0.72 AC

Frontage: 132′ on Kingston Pike
Traffic Count: 28,981 AADT
Parking spots: approx. 30
Use: Restaurant

Sale Price: $840,000
Sale Type: Investment
Price/SF: $311.69/SF
Price/Land SF: $26.87/SF
Price/Land AC: $1,166,666.67/AC
Sale Date: February 28, 2015
Recorded Buyer: B&G Property LLC
Recorded Seller: Deborah Knight and Leonard Knight
Buyer Broker: N/A
Seller Broker: N/A
Occupancy at time of sale: 100%

Sources: Knox County Register of Deeds Office, Costar, Courthouse Retrieval System, KGIS, TDOT

Information Deemed Reliable, But Not Guaranteed

Real Estate News Update

CVMR Corp. to move to Oak Ridge, create 620 jobs
Gov. Bill Haslam told a crowd of more than 200 gathered in the former Theragenics building in Oak Ridge’s Horizon Center Business Park that high-tech metal powder processing firm, CVMR Corp., is moving its global headquarters from Toronto to Roane County.   Read More

Freddie Mac Economist Expects Best Year for Housing Since ’07
A big reason for the bright outlook for the housing market is improved job prospects for those ages 25 to 34, commonly known as millennials.   Read More

15 Restaurants In Knoxville That Will Blow The Tastebuds Out Of Your Mouth
Who knew the Heart of the Valley was such a great place to dine?
Read More

A grocery chain no one talks about is becoming Whole Foods’ biggest threat
Whole Foods and Trader Joe’s are often praised for reinventing the grocery business. But Kroger is thriving in a difficult market for grocery stores.   Read More

MPC OK’s expansion for Boys & Girls Clubs
The Boys & Girls Clubs of the Tennessee Valley got Metropolitan Planning Commission approval Thursday to expand its Baxter Avenue facility, although a neighborhood resident raised some concerns.   Read More

Chick-Fil-A Is Opening Its Biggest Store Ever…In a Place It’s Never Gone Before
With 1,850 locations in 41 different states and almost a half century of operations, Chick-Fil-A has become a fixture of American fast-food. But, the Atlanta-based chain still lacks one significant accomplishment on its resume: a standalone restaurant in New York City.
Read More

Kingston Pike Retail Sale Comp – Aldi

5221 Homberg_ALDI

5221 Homberg Drive
Knoxville, TN 37919
Submarket: Bearden/Papermill/West Town

Land Area (SF): 43,995 SF
Land Area (AC): 1.01 AC

Frontage: 250′ on Homberg Drive
Traffic Count: 22,443
Parking spots: Unknown
Use: Discount Grocery Retailer

Sale Price: $1,475,000
Sale Type: Development
Price/Land SF: $33.53/SF
Price/Land AC: $1,460,396/AC
Sale Date: October 6, 2014
Recorded Buyer: Aldi, Inc.
Recorded Seller: Pike Enterprises
Buyer Broker: Unknown
Seller Broker: The Shopping Center Group

Related Property

5241 Kingston Pike_ALDI

5214 Kingston Pike
Knoxville, TN 37919
Submarket: Bearden/Papermill/West Town

Land Area (SF): 34,995 SF
Land Area (AC): 0.80 AC

Sale Type: Land Lease

Discount grocer Aldi heading to Bearden
The discount grocer, which has built several stores in Knoxville in recent years, is planning a Bearden store in the former Ace Hardware building, at 5214 Kingston Pike.
Read More

Sources: Knox County Register of Deeds Office, Costar, TDOT, Courthouse Retrieval System
Information Deemed Reliable, But Not Guaranteed

Real Estate News Update

LaRosa’s Family Pizzeria opens
A long-standing Cincinnati restaurant of 60 years is coming to Knoxville…
Read More

Bad Daddy’s Burger Bar coming to Knoxville
Charlotte-based Bad Daddy’s Burger Bar will open its first Tennessee location in March at 11638 Parkside Drive.  Read More

UT buys Victorian house on White Avenue for $1.1M
The state Building Commission on Monday approved the University of Tennessee’s purchase — for $1.1 million — of a restored Victorian house at 1302 White Ave.
Read More

Maryville bakery rises to occasion with delicious sandwich options
Just a couple of months ago, they [Foothills Milling Co.] opened an independent bakery operation on East Broadway (also in Maryville), serving homemade breads, pastries and desserts.  Read More

A Raw Deal for Real-Estate Agents
Real estate can be risky for agents themselves. Fickle buyers, unforeseen structural issues, setbacks in financing can all scuttle a deal.  Read More

How to Tell if You’re a Jerk at Work
Most people are blissfully unaware of how they come across in the office. And it can cost them.  Read More

Kingston Pike Sale Comp – Bella Boutique

Bella aerial

6484 Kingston Pike
Knoxville, TN 37919
Submarket: Papermill/Bearden/West Town

BellaBoutique

+/- 9,990 square foot building

Frontage: 140′ on Kingston Pike
Traffic Count: 28,981 AADT
Parking spots: Unknown
Use: Retail

Sale Price: $1,450,000
Sale Type: Investment
Price/SF: $145/SF
Sale Date: January 30, 2015
Recorded Buyer: Bearden Hill Partnership
Recorded Seller: YAZCO, LLC
Buyer Broker: N/A
Seller Broker: Oliver Smith – Oliver Smith Realty & Auction Co.
Occupancy at time of sale: 100%

Sources: Knox County Register of Deeds Office, Costar, Courthouse Retrieval System, KGIS, TDOT

Information Deemed Reliable, But Not Guaranteed

Related Articles

El Charro – Bearden
A popular Mexican restaurant in Bearden has a new landlord, and a new game plan.
Read More

News Update

Gus’s Fried Chicken says it’s coming to Knoxville
Gus’s Fried Chicken announced Wednesday that it plans to open eight new locations nationwide this year.  Read More

Holly’s 135 Officially Opens in the Middle of an Ice Storm
I hope it’s smoother sailing for the restaurant after their first day. They opened at 11:00 AM on Monday and by noon ice was falling from the sky in prodigious amounts.  Read More

Crowded Classes Test the Zen of Yoga
Rising popularity has made yoga studios a downward dog eat downward dog world.
Read More

Whole Foods’ Growing Store Count Will Accelerate The Company’s Financial Performance
Whole Foods Market recently exceeded the 400-store mark and estimates to reach 500 stores during fiscal year 2017, and forecast the long-term demand for 1,200 Whole Foods Market stores in the United States.  Read More

The U.S. Economy According to the White House in 10 Charts
The Economic Report of the President…  Read More

Kingston Pike Retail Sale Comp – 11200 Kingston Pike

11200KingstonPike_TNBank

11200 Kingston Pike
Knoxville, TN 37934
Submarket: Campbell Station/Farragut

+/-4,597 square feet total
Land Area (SF): 48,524 SF
Land Area (AC): 1.08 AC

Frontage: 134′
Traffic Count: 31,176 (2012)
Parking spots: 25
Use: Bank

Sale Price: $1,082,500
Sale Type: Unknown
Price/SF: $235.48/SF
Price/Land SF: $22.31/SF
Price/Land AC: $1,002,315/AC
Sale Date: March 14, 2014
Recorded Buyer: TNBank
Recorded Seller: James Biddle and Mary Biddle
Buyer Broker: Unknown
Seller Broker: Unknown
Occupancy at time of sale: +/- 100%

Sources: Knox County Register of Deeds Office, Costar, Courthouse Retrieval System, KGIS
Information Deemed Reliable, But Not Guaranteed

Sale Comp | Hardin Valley Shopping Center, Knoxville, TN

Hardin Crossing

10616HardinValleyAerial_SOLD_NAIKnoxvilleBrianTapp

10612 Hardin Valley Road
Knoxville, TN 37932
Submarket: Pellissippi/Lovell

11,314 square feet total
Land Area (SF): 64,033 SF
Land Area (AC): 1.47 AC

Frontage: 232′
Traffic Count: 20,620 (2012)
Parking spots: 85
Use: Retail, Restaurant
Year Built: 2008

Sale Price: $1,200,000
Sale Type: Investment
Price/SF: $106/SF
Price/Land SF: $18.74/SF
Price/Land AC: $816,329/AC
Sale Date: March, 2014
Recorded Buyer: Hardin Valley Crossing, LLC
Recorded Seller: LSREF2 Baron, LLC
Buyer Broker: Hawk Commercial
Seller Broker: NAI Knoxville – Brian Tapp, CCIM
Occupancy at time of sale: +/- 49%
Tenants: Subway, Snappy Tomato Pizza, 9 Round, US Nail

Sources: Knox County Register of Deeds Office, Costar, Courthouse Retrieval System
Information Deemed Reliable, But Not Guaranteed

Kingston Pike Retail Sale Comp – Former Wendy’s

Zaxby's Coming Soon

Image 3-5-14 at 10.34 AM

6913 Kingston Pike
Knoxville, TN 37919
Submarket: Papermill/Bearden/West Town
Land Area (AC): 0.54 AC

Frontage: 139.63′
Traffic Count: 32,514 (2009)
Use: Free standing restaurant – Development of a new Zaxby’s

Sale Price: $938,000
Sale Type: Development
Price/Land SF: $40/SF
Price/Land AC: $1,742,623/AC
Sale Date: December 13, 2013
Recorded Buyer: BJZ IV, LLC
Recorded Seller: Cadace Cappiello Trustee
Buyer Broker: Unknown
Seller Broker: Tony Cappiello
Occupancy at time of sale: +/- 0%

Sources: Knox County Register of Deeds Office, Costar, Courthouse Retrieval System, KGIS
Information Deemed Reliable, But Not Guaranteed

Are you reading the Property Scope?

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If you are interested in what’s going on in Knoxville check out the Property Scope by Josh Flory. The Property Scope focuses on topics including real estate, development, architecture and historic preservation in Knoxville and East Tennessee.

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Kingston Pike Retail Sale Comp – Former Tweeter

Commercial Real Estate

8416 Kingston Pike
Knoxville, TN 37919
Submarket: Cedar Bluff/Walker Springs

12,285 square feet total
Land Area (SF): 42,327 SF
Land Area (AC): 0.97 AC

Frontage: 163′
Traffic Count: 29,590 (2009)
Parking spots: 15
Use: Free standing retail

Sale Price: $1,580,000
Sale Type: Owner/Occupied
Price/SF: $128.61/SF
Price/Land SF: $37.33/SF
Price/Land AC: $1,628,865/AC
Sale Date: February 13, 2014
Recorded Buyer: 3001 Bristol Highway, LLC d/b/a Smartway Rentals
Recorded Seller: Morgan Schubert Jr., co-trustee; John Schubert, co-trustee, Reese Thomas, co-trustee, James Nixon II, co-trustee, David Fiser, John Osborne, co-trustee and Caroline Osborne
Buyer Broker: Unknown
Seller Broker: Unknown
Occupancy at time of sale: +/- 0%

Sources: Knox County Register of Deeds Office, Costar, Courthouse Retrieval System, KGIS
Information Deemed Reliable, But Not Guaranteed