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St. Joe Plans To Sell Or Lease 1,000 Acres Near New Fla Airport

DOW JONES NEWSWIRES St. Joe Co. (JOE) hired CB Richard Ellis Group Inc. (CBG) to help sell or lease more than 1,000 acres adjacent to the new Northwest Florida Beaches International Airport for commercial development. The site is part of about 71,000 acres that St. Joe, Florida's largest private-property owner, owns in Bay County in Northwest Florida. St. Joe donated 4,000 acres for the airport, scheduled to open in May near Panama City Beach. The company expects the airport to create thousands of jobs and increase the value of its land nearby. The airport also will make the Florida Panhandle easier to reach for vacationers. "This key agreement will help further establish Northwest Florida as a major business hub," said St. Joe's President and Chief Executive Britt Greene. The company has been hurt by the housing downturn in Florida, which had been one of the hottest real-estate markets in the country. In 2008, St. Joe shut its home-building operations, slashed its work force to 200 from 1,500, and outsourced management of its hotels, golf courses and marinas. In November, St. Joe's reported its third-quarter loss narrowed to $14.4 million and revenue climbed 30% to $43.2 million. Its shares rose 0.8% to $27.43 in after-hours trading. The stock is up 5% in the past year. -By Kathy Shwiff, Dow Jones Newswires; 212-416-2357; [email protected]

Stock News for St Joe (JOE)
03/14/201716:08:32Current Report Filing (8-k)
03/02/201717:31:49Annual Report (10-k)
03/02/201716:27:11Current Report Filing (8-k)
03/02/201716:19:00The St. Joe Company Reports Fourth Quarter and Full Year 2016...
02/14/201718:53:00The St. Joe Company & the Bay Economic Development Alliance Welcome...
02/13/201714:43:55Amended Statement of Ownership (sc 13g/a)
02/13/201714:41:45Amended Statement of Ownership (sc 13g/a)
01/17/201712:53:53Amended Statement of Ownership (sc 13g/a)
12/29/201606:03:40Current Report Filing (8-k)
11/03/201617:29:47Quarterly Report (10-q)
11/03/201616:18:41Current Report Filing (8-k)
11/03/201616:08:00The St. Joe Company Reports Third Quarter 2016 Results
08/03/201616:24:34Quarterly Report (10-q)
08/03/201616:13:50Current Report Filing (8-k)
08/03/201616:05:00The St. Joe Company Reports Second Quarter 2016 Results
06/28/201617:30:31Annual Report of Employee Stock Plans (11-k)
05/19/201616:57:20Current Report Filing (8-k)
05/18/201617:54:46Statement of Changes in Beneficial Ownership (4)
05/18/201617:51:41Statement of Changes in Beneficial Ownership (4)
05/18/201617:47:23Statement of Changes in Beneficial Ownership (4)

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