The St. Joe Company Purchases Panama City Beach Office Complex
April 10 2017 - 5:34PM
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20170410006237/en/
St. Joe Investor/Media Contact:Marek Bakun, 866-417-7132Chief
Financial Officermarek.bakun@joe.com
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