Profile: St. Joe Co (JOE.N)
26 May 2017
The St. Joe Company, incorporated on May 26, 1936, is a real estate development, asset management and operating company. The Company has operations concentrated primarily between Tallahassee and Destin, Florida, which it uses for a range of residential or commercial real estate developments, resorts and leisure operations, leasing operations and forestry operations. The Company operates through five segments: residential real estate; commercial real estate; resorts and leisure; leasing operations, and forestry. The Company has residential and commercial land-use entitlements in hand or in process.
Residential Real Estate
The Company's residential real estate segment plans and develops primary residential and resort residential communities of various sizes on its 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. Within its residential real estate business, the Company has two types of communities, primary residential and resort residential. Its primary residential communities attract buyers, intending to use the community primarily for their main residence. The Watersound Origins, Breakfast Point and SouthWood communities are its projects in this category. Its resort residential communities are focused on primarily second-home buyers. Projects in this category include the WaterColor and WaterSound Beach communities.
Commercial Real Estate
The Company's commercial real estate segment plans, develops, manages and sells real estate. It includes commercial operating properties used for a range of purposes, including a range of retail, office, hotel, multi-family and industrial uses. The Company provides development opportunities for national, regional and local retailers and other strategic partners in Northwest Florida. It also developed commercial parcels within or near existing residential developments. Its commercial real estate also includes industrial parks and several commerce parks. It has land holdings near the Pier Park retail center, Northwest Florida Beaches International Airport, the Port of Port St. Joe, along roadways and near or within business districts in the region. Adjacent to the Northwest Florida Beaches International Airport is one of its industrial parks, VentureCrossings, a commercial and industrial development.
Resorts and Leisure
Resorts and leisure segment features a portfolio of vacation rentals and hotel operations, as well as golf courses, a beach club, marinas and other related resort amenities. It owns the WaterColor Inn and Resort, a boutique hotel, which provides guests with access to a beach club, spa, tennis center, a restaurant, and retail and commercial space. In addition, its vacation rental business rents private homes in the WaterColor, WaterSound Beach and surrounding communities, to individuals vacationing in the area. It also manages The Pearl Hotel, a boutique resort hotel in Northwest Florida. It owns four golf courses and a beach club in Northwest Florida. Three of the golf courses and the beach club are in the Panama City Beach area and the fourth golf course is located in Tallahassee. The golf courses and beach club are situated in or near its residential communities. St. Joe Club & Resorts is its private membership club that provides members and registered resort guests access to its facilities. It owns and operates two marinas in Northwest Florida. Its resorts and leisure segment operations are managed by a third party management company.
The Company's leasing operations business includes its retail and commercial leasing, including properties located in its consolidated joint venture (JV) at Pier Park North (Pier Park North JV) and VentureCrossings, its industrial park. It owns and manages several small retail shopping centers located in or near to its residential projects, such as the WaterColor, WaterSound Beach, SouthWood and WindMark Beach communities. Its leasing operations include Pier Park North JV, a developer of neighborhood and community retail centers. It owns approximately 105,000 square foot building with manufacturing and office space in VentureCrossings. The Company is involved in constructing a new manufacturing facility of approximately 137,000 square feet.
The Company's forestry segment focuses on the management of its timber holdings in Northwest Florida. The Company grows and sells sawtimber, wood fiber and forest products and provides land management services for conservation properties. It has approximately 115,000 acres designated for forestry operations.
St. Joe Co
133 S Watersound Pkwy
WATERSOUND FL 32413-7280