A prime piece of West Knoxville property has new owners.
The old Magnuson Hotel is located on Kingston Pike across from West Town Mall. It has been closed down for several years.
In 2017, the city asked the owners to board it up to keep vagrants from going inside.
Now, an Alabama company called NLA Kingston LLC has purchased the property for $4.325 million.
There's no word on what they plan to do with the property.