Profile: St. Joe Co (JOE.N)
4 Mar 2015
The St. Joe Company, incorporated on May 26, 1936, is a real estate development and operating company. The Company owns land concentrated primarily in Northwest Florida and has residential and commercial land-use entitlements. The Company operates in five reportable segments: Residential Real Estate; Commercial Real Estate; Rural Land; Resorts, Leisure and Leasing Operations, and Forestry. Residential Real Estate, plans and develops mixed-use resort, primary and seasonal residential communities on existing land. Commercial Real Estate, plan, develop, manage and sell real estate, including commercial operating property, for commercial purposes. Rural Land, sells varying sizes of rural timberland. Resorts, Leisure and Leasing Operations, involve resort and leisure business and leasing operations. Forestry, own and operate forestry operations such as producing sawtimber and pulp.
Residential Real Estate
The Company’s residential real estate segment typically plans and develops mixed-use resort, primary and seasonal residential communities of various sizes, primarily on existing land. The Company owns land in Northwest Florida, including Gulf of Mexico beach frontage, and other waterfront properties concentrated primarily between Tallahassee and Destin, Florida. The real estate investment strategy focuses on projects that meet risk-adjusted investment return criteria.
Commercial Real Estate
The Company’s commercial real estate segment plans, develops, manages and sells real estate, including commercial operating property, for commercial purposes. The Company focuses on commercial development and sales in Northwest Florida because of large land holdings surrounding the Northwest Florida Beaches International Airport, along roadways and near and within business districts in the region. The Company provides development opportunities for national and super regional retailers. The Company offers land for commercial and light industrial uses. The Company also develops commercial parcels within and near existing residential development projects. The Company’s commercial real estate includes industrial parks and commerce parks.
The majority of rural land sold is undeveloped timberland and is managed as timberland until sold, although some parcels include the benefits of limited development activity including improved roads, ponds and fencing. The Company has traditionally sold parcels of varying sizes ranging from less than one acre to thousands of acres. The pricing of these parcels varies based on size, location, terrain, timber quality and other local factors.
Resorts, Leisure and Leasing Operations
Resort and Leisure Business operates in WaterColor Inn and Vacation Rentals, Golf Courses and Marinas, and St. Joe Club & Resorts. WaterColor Inn and Vacation Rentals, provides guests with a beach club, spa, tennis center, an award-winning restaurant and complementary retail and commercial space. Golf Courses and Marinas, own four golf courses and operate two marinas. St. Joe Club & Resorts, offers benefits and privileges to certain golf courses and other resort facilities. Leasing Operations includes retail and commercial leasing. The retail leasing business is in connection with the growth in residential developments. The Company has small retail shopping centers located in and near to residential projects, such as the WaterColor, WaterSound Beach, SouthWood and WindMark Beach communities managed by the leasing team.
The Company own and operate forestry operations in Northwest Florida. As of December 31, 2013, the Company had 545,000 acres designated for forestry operations, including land in West Bay, and harvest approximately 315,000 acres. The Company produces both sawtimber lumber used in construction and pulp timber used to make pulp for products like linerboard.
St. Joe Co
133 S Watersound Pkwy
WATERSOUND FL 32413-7280