Transactions

Maddox Brokers Sale Of Townehomes at Beaverbrook Development

(Knoxville, Tenn) – Maddox Property Management & Sales, Inc has brokered the sale of all remaining developer lots and units in the Townehomes at Beaverbrook, a 49,537-square-foot 38-unit townhome development in Knoxville, Tenn. 

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The Seller group was comprised of four entities who were successors to the original project developer. The group consulted with Maddox Companies in assessing market strategies for the stalled development, including remarketing to the public after PUD conversion, as-is sale to a builder/developer and short and long term hold unit rental scenarios. Ultimately, an as-is sale of the project to a builder/developer was determined to be the most profitable route forward for the Seller group. Maddox Companies quickly paired the opportunity with a local builder, going to contract on the property at full asking price, and thereafter closing the sale in coordination with the multiple sellers and lenders with interests in the development.

Construction of the 38-unit project, which adjoins Beaver Creek and Beaver Brook Country Club, began just before the "Great Recession". It had remained stalled since that time, despite efforts by varied groups to assemble and finish out the development over the past few years. The property is surrounded by numerous on-going residential developments in North Knoxville's flourishing Emory Road corridor, as well as the nearby development of a new Kroger Marketplace shopping center, and is located in the desirable Brickey-McCloud Elementary School district. 

For more information on the sale of this prime residential development property, contact Brandon Clark or Steve Maddox at 865-522-9910

Maddox Companies Brokers Sale at the Offices at Waters Edge

(Knoxville, TN) – Maddox Property Management & Sales, Inc has brokered the sale of 614 Mabry Hood Road Suite 301, a 5,287-square-foot Class A suburban office condominum in Knoxville, TN. Coal Creek Company will relocate its headquarters to the top floor of the building. Steve Maddox and Brandon Clark represented both Buyer and Seller in the transaction. Maddox assisted Functional Pathways, a national leader in contract rehabilitation and therapy management services, in relocating its headquarters from the Waters Edge to a larger suite in its acquisition of 10133 Sherrill Boulevard last year.

The Offices at Waters Edge is located 10 miles west of downtown Knoxville at the junction of Interstate 40/75 and Pellissippi Parkway. Other tenants in the Offices at Waters Edge development include Rodefer Moss, EnerNex and Visionary Horizons Wealth Management. 

 

66,511sf Former Kroger Pending Sale by Maddox Companies

(Knoxville, TN) - Steven K. Maddox & Associates, LLC / Keller Williams Realty has secured a buyer for a 66,511sf former Kroger box at 9305 Kingston Pike, Knoxville, TN 37922. Steven Maddox and Brandon Clark represent the seller in the transaction. 

The building, which sits on a 5-acre carveout parcel and anchors Market Place Shopping Center, has full lighted access and excellent visibility to Kingston Pike. The site is located within 1/4 mile of the Cedar Bluff Road exit of I-40/75, which carries 170,466 vehicles daily.