Posts tagged Distressed Properties
SEVIER CO – Trey Miller, MRED and Brian Tapp, CCIM of NAI Knoxville recently announced the sale of Belle Island Village in Pigeon Forge, TN to LeConte Properties LLC. NAI Knoxville partnered with David F. DeVaney, SIOR, CCIM, and President of NAI Charter in Chattanooga, TN.
Belle Island Village is a 280,000 square foot festival themed retail development that sits on 18.06 acres in between the Pigeon Forge Parkway and Teaster Lane. Belle Island Village sold for $10,500,000 on November 18th, 2011 and NAI Knoxville represented the seller, Regions Bank. Belle Island is approximately 70% complete and is slated for specialty retail shops, a range of restaurants and entertainment venues.
Pigeon Forge is known for its entertainment and attractions which include, Dollywood, Wonder Works, Dixie Stampede and outlet malls.
Brian and Trey were recently hired to market Riverwalk, LLC and Pigeon Falls, LLC which is the remaining 138 acres of undeveloped land that neighbors Belle Island Village and the Pigeon Forge Events Center. This property is strategically located next to the new LeConte Events Center and future Jake Thomas Boulevard Extension which will connect the Parkway with the entrance to Dollywood. Brian and Trey feel that many retail, entertainment and hospitality uses will prove successful on this neighboring land. They are focusing their efforts on locating parties that are interested in constructing an Events Center Hotel located directly across the street from the LeConte Events Center.
Trey Miller and Brian Tapp have successfully completed and continue to work on several major real estate owned projects for lenders including Capital Bank, FSG Bank, Green Bank, Mountain National Bank, Nexity Bank and Regions Bank.
NAI Knoxville is a member of NAI Global. NAI has members in over 300 cities and 40 countries giving NAI Knoxville the ability to service client’s real estate needs anywhere in the world by providing local knowledge with international reach.
NAI Global has an annual commercial and industrial transaction volume of $40 billion dollars and is the world’s largest managed real estate network.
Knoxville News Sentinel (http://www.knoxnews.com/news/2011/nov/21/belle-island-sale-finally-goes-through/), The Mountain Press (http://themountainpress.com/view/full_story/16501403/article-Belle-buy-big-business-for-Forge?instance=most_popular), WATE (http://www.wate.com/story/16095958/belle-island-village), WBIR(http://www.wbir.com/news/local/story.aspx?storyid=192269), PigeonForge.com (http://www.pigeonforge.com/blog/?p=2352), The Chattanoogan (http://www.chattanoogan.com/articles/article_214336.asp)
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