Kasada Purchased Former Turkey Creek O'Charley's
The firm acquired the Parkside Drive property for $4.6 million on June 3, 2026.
Updated on Sept. 23, 2026 in Openings & Closings
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Kasada LLC purchased the former O'Charley's site at 11036 Parkside Drive in Turkey Creek for $4.6 million on June 3, 2026. This acquisition follows a series of regional restaurant closures as O'Charley's liquidates assets to satisfy creditors.
Why it matters
The sale marks a significant step in the downsizing of the O'Charley's chain, which had previously operated locations across 12 states. Kasada LLC, a frequent developer of Raising Cane's locations, is moving to repurpose the site.
The transaction involved a $4.6 million capital outlay for the property at 11036 Parkside Drive. O'Charley's previously maintained a footprint across 12 states with 44 total locations before starting its current liquidation process.
The players
Kasada LLC
This commercial real estate firm specializes in the acquisition and redevelopment of restaurant properties for new retail tenants.
O'Charley's
Founded in 1971, this casual dining restaurant and bar chain previously operated across 12 states before beginning a recent downsizing.
Raising Cane's Chicken Fingers
This fast-food restaurant chain known for its chicken finger meals is expanding its physical presence in the Knoxville market.
The details
Kasada LLC has a track record of converting former restaurant properties into Raising Cane's Chicken Fingers locations. The developer is expected to repeat this model in Knoxville, potentially marking the third such site for the brand in the city.
Timeline
1971: O'Charley's was founded in Nashville.
2024: Raising Cane's Strip location opened in Knoxville.
2025: Raising Cane's West Hills location opened in Knoxville.
June 3, 2026: Kasada LLC bought the Turkey Creek property.
Market Landscape
The acquisition reflects a broader shift in commercial real estate where developers target legacy casual-dining footprints for conversion into high-growth quick-service spaces. This strategy allows expanding brands to bypass new construction delays while capitalizing on existing prime retail locations.
Local diners should expect the potential transformation of the vacant site into a new Raising Cane's location, continuing the brand's growth in the Knoxville area. The deal permanently alters the retail makeup of the Turkey Creek shopping corridor as the O'Charley's brand continues to withdraw from the region.
The takeaway
Commercial real estate developers continue to prioritize the redevelopment of existing restaurant infrastructure to accelerate national brand expansions. Consumers can anticipate continued turnover in long-standing restaurant corridors as established chains scale back operations.
Further reading
For more information on retail changes in the area, visit the Knoxville Openings & Closings.
Source note: This article includes information reported by Knoxville News Sentinel.
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