Knoxville's 10 most expensive commercial property sales, from Topgolf to Discovery

Commercial properties in Knox County are selling like hotcakes, and not cheap ones either.

From massive apartment complexes to one of Knoxville's most unique office spaces, 2023 had some huge purchases.

The top 10 most expensive commercial property sales of 2023 combined for nearly $443.5 million dollars. About half of that came from the top two sales alone.

Here's a look at the top 10 largest commercial property sales in Knox County as of Dec. 18, according to the Knox County property assessor's office.

1. One Riverwalk - $124.1 million

Sold by: Southeastern

Purchased by: Passco Companies

Not only was the sale of this riverside apartment complex the most expensive of the year, but it was one of the largest sales Knox County Register of Deeds Nick McBride said he's seen in recent memory.

Passco, a California-based real estate investment group, told Knox News it was drawn to the property for its "unbelievable setting" overlooking the Tennessee River and visibility from downtown.

2. The Commons at Knoxville - $93.8 million

Sold by: Commons Bridge Knoxville LLC

Purchased by: Walton Street Capital

This Fort Sanders apartment complex (along with a few adjacent properties) was purchased by WSCR Commons Owner IX, L.P., which is linked to Chicago-based real estate investment company Walton Street Capital.

The purchase included 10 parcels in the Fort Sanders neighborhood between 20th Street and 11th Street.

3. 303 Flats - $56.9 million

Sold by: Realco Capital Partners

Purchased by: Horizon Realty Investors

Not far from One Riverwalk, this South Waterfront apartment complex was sold to Seattle-based student housing company Horizon Realty Investors.

4. Topgolf property - $35.7 million

Sold by: TN Knoxville Furrow LLC

Purchased by: Alharmoosh Entertainment Group LLC

The year started off with a bang when the Topgolf property in Farragut changed hands on Jan. 5. South Carolina-based company TN Knoxville Furrow LLC sold the property to ANS Property LLC and Fay Properties LLC, both of which are based in Virginia; each received a 50% interest.

ANS and Fay merged into Alharmoosh Entertainment Group LLC in August, according to Knox County property records.

5. Apex Bank/Discovery property - $35 million

Sold by: Scripps Networks, LLC

Purchased by: Apex Bank

This wasn't the only sale of this property this year, but it was the largest. Apex Bank purchased the former Discovery headquarters in March, with plans to use it for the bank's headquarters.

Apex ended up splitting the property into three parcels and sold two to Altar'd State this fall. The Maryville-based clothing company is moving its headquarters there. Those two purchases combined for $31 million. Apex is retaining its remaining third of the property.

6. Courtyard by Marriott Knoxville West/Bearden - $23.2 million

Sold by: Concord Nilhan Brookview LLC

Purchased by: Sachchidanand Hotel Brookview LLC

The Brookview Centre Way property was last purchased by Concord Nilhan Brookview in 2011 for $1.75 million, according to Knox County property records. Increasing the sale price by over $21 million in 12 years isn't too shabby.

7. Highland Grand - $22.7 million

Sold by: FPA Grand Forrest LLC

Purchased by: EEA - Highland Terrace V, LLC

This Fort Sanders apartment complex was purchased in September. The sale included three buildings on Grand and Forrest avenues.

8. The Abigail - $21.2 million

Sold by: Magma Equities

Purchased by: Abigail Apartments LP

The Abigail is an apartment complex located in the Forrest Heights neighborhood in west Knoxville.

9. Sutherland Park Apartments - $16 million

Sold by: Sutherland Park LP

Purchased by: Elmington Capital Group

Located at 510 Vista Glen Way, this Pod Gap apartment complex was sold in November.

10. West Bearden Office Plaza - $14.9 million

Sold by: TJ West Bearden Partnership

Purchased by: SunCap Property Group

The Charlotte-based property group purchased this office park at 6700 Baum Drive. It's home to businesses like Truckers National Insurance, Cedar Bluff Plumbing and Meryl's Massage and Yoga.

The property was purchased on Dec. 15, making it the most recent on this list.

Silas Sloan is the growth and development reporter. Email silas.sloan@knoxnews.com. Twitter @silasloan. Instagram @knox.growth.

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This article originally appeared on Knoxville News Sentinel: Knoxville top sales include One Riverwalk, Discovery, Topgolf