WATERSOUND, Fla.--(BUSINESS WIRE)--
The St. Joe Company (NYSE:JOE) (the "Company") announced today the
purchase of Beckrich I and Beckrich II office buildings located at the
intersection of Richard Jackson Boulevard and U.S. 98 in Panama City
Beach, Florida. The two, 2-story buildings situated on approximately 5.5
acres, total over 67,000 net leasable square feet and 278 parking
spaces. The buildings were originally completed in 2003. Current tenants
include Sacred Heart Health System, AECOM, and Community Bank, among
others. Jorge Gonzalez, the Company's President and Chief Executive
Officer, stated, "This acquisition demonstrates St. Joe's long term
commitment and optimism about Panama City Beach and Bay County." Mr.
Gonzalez added: "These two quality-built office buildings are
strategically located to serve the continued growth of the area and the
needs of prospective tenants." The Class "A" office buildings have space
available for lease, ranging in size from 1,000 square feet to over
11,000 square feet, accommodating a wide variety of users. The buildings
are located in close proximity to restaurants, shopping, schools,
healthcare facilities and growing residential communities like Breakfast
Point. For more information regarding space available for lease, please
contact Elizabeth Forsythe with The St. Joe Company at 888-836-8353.
Important Notice Regarding Forward-Looking
Statements
This press release includes forward-looking statements, including the
Company's statements of optimism and belief of continued growth in the
area. The statements made by the Company are based upon management's
current expectations and are subject to certain risks and uncertainties
that could cause actual results to differ materially from those
described in the forward-looking statements. These risks and
uncertainties include market conditions and other factors beyond the
Company's control and the risk factors and other cautionary statements
described in the Company's filings with the SEC, including the Company's
Annual Report on Form 10-K filed with the SEC on March 2, 2017 as
updated by subsequent Quarterly Reports on Form 10-Qs and other current
report filings.
About The St. Joe Company
The St. Joe Company together with its consolidated subsidiaries is a
real estate development, asset management and operating company
concentrated primarily between Tallahassee and Destin, Florida. More
information about the Company can be found on its website at www.joe.com.
© 2017, The St. Joe Company. "St. Joe®", "JOE®", the "Taking Flight"
Design®, "St. Joe (and Taking Flight Design)®" are registered service
marks of The St. Joe Company.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170410006237/en/
St. Joe Investor/Media Contact:
Marek Bakun, 866-417-7132
Chief
Financial Officer
marek.bakun@joe.com
Source: The St. Joe Company
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