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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;

Stock News for St Joe (JOE)
03/04/201514:20:00Forbes Travel Guide Awards Four-Star Ratings to Two St. Joe Club...
03/02/201510:12:43Initial Statement of Beneficial Ownership (3)
03/01/201505:02:23Some Companies Are More Wonderful Than Others
02/27/201514:47:13Initial Statement of Beneficial Ownership (3)
02/27/201506:11:45Annual Report (10-k)
02/26/201518:05:15St Joe Co. reports Q4 results
02/26/201517:10:00The St. Joe Company Reports Fourth Quarter and Full Year 2014...
02/18/201506:01:00Amended Statement of Ownership (sc 13g/a)
02/17/201512:50:05Amended Statement of Ownership (sc 13g/a)
02/11/201506:01:02Amended Statement of Ownership (sc 13g/a)
01/26/201519:49:00SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On...
01/26/201516:53:09Current Report Filing (8-k)
01/09/201516:46:21Amended Statement of Ownership (sc 13g/a)
11/06/201417:29:18Quarterly Report (10-q)
11/06/201416:08:31Current Report Filing (8-k)
11/06/201416:05:00The St. Joe Company Reports Third Quarter 2014 Results
10/20/201415:09:00The St. Joe Company Ribbon-Cutting Ceremony Marks the Opening...
09/04/201416:58:38Statement of Changes in Beneficial Ownership (4)
08/18/201417:17:55Current Report Filing (8-k)
08/14/201409:39:00The St. Joe Company Announces Park Brady Retirement

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