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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)
11/24/201506:01:39Current Report Filing (8-k)
11/19/201516:34:00The St. Joe Company Announces Retirement of Jeff Keil, Successor...
11/05/201516:09:07Current Report Filing (8-k)
11/05/201516:05:00The St. Joe Company Reports Third Quarter 2015 Results & Announces...
10/27/201516:12:00The St. Joe Company Announces Settlement of SEC Investigation
10/23/201517:30:44Current Report Filing (8-k)
09/30/201516:55:01Amended Statement of Beneficial Ownership (sc 13d/a)
09/28/201516:29:50Amended Tender Offer Statement by Issuer (sc To-i/a)
09/28/201507:00:00The St. Joe Company Announces Final Results of Tender Offer
09/23/201514:50:59Amended Tender Offer Statement by Issuer (sc To-i/a)
09/23/201507:45:00The St. Joe Company Announces Preliminary Results of Tender Offer
09/17/201509:10:00Financial Sector Equities under Review -- Brandywine Realty Trust...
09/02/201512:22:46Amended Tender Offer Statement by Issuer (sc To-i/a)
08/24/201506:07:48Tender Offer Statement by Issuer (sc To-i)
08/21/201522:36:00The St. Joe Company Announces Tender Offer for Shares of Its...
08/06/201518:32:03Quarterly Report (10-q)
08/06/201516:07:27Current Report Filing (8-k)
08/06/201516:05:00The St. Joe Company Reports Second Quarter 2015 Results
07/07/201512:24:01Current Report Filing (8-k)
07/02/201512:23:04Statement of Changes in Beneficial Ownership (4)

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