Skip to main content Skip to footer

11749 New Kings Road sells to Montana investment company

It is the investor’s 12th purchase in Northeast Florida.

A Montana investment company added 22 acres to its Northeast Florida holdings with the April 10 purchase of O.E. Smith’s Sons Inc. warehouses and offices in Northwest Jacksonville for $1.02 million.

Stevensville, Montana-based Flying Colors Group L.P. bought the 12 structures totaling about 25,000 square feet of office, warehouse and storage space on property zoned as a planned unit development for business park and light industrial use.

The property at 11749 New Kings Road has about 1,150 feet of road frontage.

Colliers International announced the sale April 15 in a news release. It said the purchase is the group’s 12th investment in Northeast Florida since 2016, bringing the total to more than 434,000 square feet of industrial space. 

Eric Bumgarner, senior director of Colliers International’s Jacksonville office, represented both the buyer and seller in the cash transaction.

Colliers said the buyer is willing to build to suit, lease out the existing buildings, lease land for truck or equipment storage, or lease the whole property to one user. Colliers will be the leasing agent.

The main buildings comprise a 10,100-square-foot precast concrete open warehouse equipped with two 5-ton cranes and a silo to store aggregates; a 10,325-square-foot prefabricated metal building with 2,141 square feet of office; a 1,440-square-foot metal warehouse with 16 feet of clear height; and a 2,766-square-foot, two-story home that could be converted to office space.

OE Smith’s Sons Inc., founded in 1940, is a family-owned and operated business providing well drilling, septic tanks system and water pump service. It will retain 10 acres of the 32-acre property. 

Read more about the purchase here.

Source | Jax Daily Record


Related Experts

Eric Bumgarner

Executive Director

Jacksonville

Eric Bumgarner is an Executive Director of Industrial Brokerage Service with Colliers North Florida. Eric focuses his efforts primarily on the disposition and acquisition of industrial business parks, single tenant net leased industrial and self-storage facilities. His brokerage activities include both seller/landlord representation and buyer/tenant representation of sales and leases in the specialty of industrial land and buildings for local, regional and international companies. Eric has a reputation of being a key player in the Jacksonville, FL industrial market with having completed over 600 transactions throughout his career totaling 5.2M square feet. These transactions are valued at more than $300 million and has placed Eric among the top producers within Colliers.

Eric has relevant hands-on experience when it comes to understanding the needs of industrial users, as he has worked for multiple contracting companies in his younger years and is a veteran of the United States Air Force where he served in Operation Enduring Freedom maintaining the missile defensive systems on C-130 cargo planes.

Prior to joining Colliers International, Eric managed the industrial division at Prime Realty.

View expert