Profile: St. Joe Co (JOE.N)
The St. Joe Company, incorporated on May 26, 1936, is a real estate development, asset management and operating company. The Company owns land 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 has residential and commercial land-use entitlements in hand or in process. The Company operates through five segments: residential real estate; commercial real estate; resorts and leisure; leasing operations, and forestry.
Residential Real Estate
The Company's residential real estate segment plans and develops mixed-use resort, primary and seasonal 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 over two types of communities. The first, its residential resort communities, is for second-home buyers. The Company's projects in this category include the WaterColor and WaterSound Beach communities. Its second type of residential communities serve the primary home market. These communities are for buyers who intend to use the community primarily for their main residence. This categories' projects include WaterSound Origins, Breakfast Point and SouthWood communities.
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 provides development opportunities for national, regional and local retailers, and other partners in Northwest Florida. It offers land for commercial and light industrial uses. The Company also develops commercial parcels within or near existing residential development projects. The Commercial real estate also includes industrial parks and various commerce parks. The Company has land holdings surrounding the Northwest Florida Beaches International Airport, the Port of Port St. Joe, along roadways and near or within business districts in the region.
Resorts and Leisure
The Company's resorts and leisure segment's business includes WaterColor Inn and Vacation Rentals, Clubs and Resorts, and St. Joe Club & Resorts. Its WaterColor Inn and Resort is a boutique hotel, which provides guests with access to beach club, spa, tennis center, 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 who are vacationing in the area. A third party management company manages its resorts and leisure businesses. It owns over four golf courses in Northwest Florida. Three of them are in the Panama City Beach area and the fourth is located in Tallahassee. The golf courses are situated in or near its residential communities. The Company also owns and operates over two marinas. A third party management company manages its golf courses and marinas. St. Joe Club & Resorts is the Company's private membership club that provides a range of amenities to its members and resort guests. It focuses on creating a membership experience combined with various aspects of a four star/four diamond resort. This allows the Company to provide membership in the lodging business. In addition, St. Joe Club & Resorts manages The Pearl Hotel, a boutique resort hotel in Northwest, Florida.
The Company's leasing operations business includes its retail and commercial leasing. The Company owns and manages various small retail shopping centers located in or near to some of its residential projects, such as the WaterColor, WaterSound Beach, SouthWood and WindMark Beach communities. Its commercial leasing operations include its Pier Park North joint venture. Its Pier Park North joint venture includes over 330,000 square foot retail center in Panama City Beach. It has leased approximately 287,000 square feet of retail space, which include tenants, such as Dick's Sporting Goods, Fresh Market, World Market, Bed Bath & Beyond, Michaels, Pet Smart, Bealls Outlet Store and Ross Dress for Less. It owns approximately 105,000 square foot building with manufacturing and office space in VentureCrossings.
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 116,000 acres designated for forestry operations. The Company has approximately 3.2 million tons of marketable pulpwood and approximately 2.1 million tons of marketable sawlogs on such acreage.
St. Joe Co
133 S Watersound Pkwy
WATERSOUND FL 32413-7280