The St. Joe Company Sells 3 Commercial Parcels for Development at SouthWood Village; 13.72 Acre Deal To Bring Publix Supermarkets, Gate Petroleum and SunTrust Bank to SouthWood Community.Business Editors/Real Estate Writers TALLAHASSEE, Fla.--(BUSINESS WIRE)--Jan. 20, 2003 St. Joe Commercial, the commercial investment, asset management and development division of The St. Joe Company The St. Joe Company (NYSE: JOE)is a land development company and Florida's largest private landowner, owning about 805,000 acres (0 km) in the state [1]. ("St. Joe"), today announced the sale of 3 commercial parcels totaling 13.72 acres at SouthWood Village, a new neighborhood shopping center shopping center, a concentration of retail, service, and entertainment enterprises designed to serve the surrounding region. The modern shopping center differs from its antecedents—bazaars and marketplaces—in that the shops are usually amalgamated into located in the northwest quadrant of the intersection of Capital Circle and Blair Stone Road, in the city of Tallahassee, Florida For other uses, see Tallahassee (disambiguation). Tallahassee is the capital of the State of Florida and the county seat of Leon County. Tallahassee became the capital of Florida in 1824. As of 2006, the population recorded by the U.S. , adjacent to Arvida's SouthWood residential development. Inland Retail Real Estate Trust, Inc., purchaser of the largest parcel, also has executed a development agreement with St. Joe Commercial, utilizing St. Joe Commercial's development expertise, to construct a 62,840 square foot SouthWood Village Shopping Center on 11.02 acres. Publix Super Markets will occupy 44,840 square feet, leaving 18,000 square feet of shop space available for other small shop tenants. These small shops are planned at 1,200 square feet each, with the ability to combine spaces for a larger user. Orlando based architects Cuhaci & Peterson will design the center. Advantis, St. Joe's real estate services arm, has been retained by Inland to market and lease the SouthWood Village retail space. "SouthWood Village is a perfect fit with our investment objectives," said Steven Sanders, Senior Vice President, Florida Office, Inland Real Estate Acquisitions Inc. "It is part of a Master Planned Community Noun 1. planned community - a residential district that is planned for a certain class of residents residential area, residential district, community - a district where people live; occupied primarily by private residences from Arvida--one of the best in the business. It is convenient to schools, residential communities, business, education and government centers, as well as the adjacent SouthWood development. Furthermore, it is well-positioned to offer the merchants who locate here a high potential for success." Frank Herring, president of St. Joe Commercial said, "It's gratifying grat·i·fy tr.v. grat·i·fied, grat·i·fy·ing, grat·i·fies 1. To please or satisfy: His achievement gratified his father. See Synonyms at please. 2. indeed when a major player like Inland not only sees the potential we have been able to create here, but also recognizes our expertise in development, construction and property management. That kind of credibility comes only from hard work and careful planning by the entire St. Joe family." Gate Petroleum purchased a 1.5 acre out parcel on the corner of Capital Circle and Blair Stone Road to build an approximately 5,520 square foot combination gasoline and convenience store. Also, a full service SunTrust banking center, approximately 4,300 square feet in size, will be built to the north of the Gate property on 1.2 acres. All facilities will be constructed in a style and manner consistent with the SouthWood Village shopping center. Publix, Gate, and SunTrust will be the first businesses at the center. All 3 are expected to open in fourth quarter 2003. Arvida, St. Joe's community development arm, is developing SouthWood. "We are working to create a community that is integral to the charm of this historic college and government town-Tallahassee," said Timothy Edmond, president of the capital region for Arvida. "SouthWood Village will be a cornerstone commercial area for the community. A supermarket and other nearby shops and services will help make SouthWood complete. It will provide the kind of convenience and service that mark a sustainable, long-term community." "SouthWood Village will help define the SouthWood lifestyle and greatly enhance the community's already considerable attractiveness," said Herring. "The commitments from Inland, Gate and SunTrust will be a catalyst for additional high-quality retail development within the village spirit of SouthWood. This facility will help SouthWood continue to set a tone for residents looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. traditional values Traditional values refer to those beliefs, moral codes, and mores that are passed down from generation to generation within a culture, subculture or community. Since the late 1970s in the U.S. with modern conveniences." St. Joe self-marketed these development opportunities and represented itself throughout the negotiation and documentation phases of these transactions. Craig Buchanan, Director of Retail, handled the transaction for St. Joe Commercial which closed late in the fourth quarter of 2002. St. Joe will continue to market the remaining out-parcels. For leasing information at SouthWood Village, please call Brenda Francis or Ted Bollmann at 850-386-2600, Advantis Real Estate Services, Licensed Real Estate Brokers. About The Purchasers During the past 34 years, Inland and its affiliates, headquartered in Oak Brook, Illinois Oak Brook is a suburb of Chicago in DuPage County, in Illinois. The population was 8,702 at the 2000 census. History Oak Brook was incorporated as a Village in 1958, due in large part to the efforts of Paul Butler, a prominent civic leader and landowner whose father had , have purchased more than $4 billion worth of property. Purchases have included nearly 50,000 apartment units in over 500 properties, more than 38 million square feet of retail, office, and commercial properties, and 10,800 acres of pre-developed land. Inland Retail Real Estate Trust, Inc. owns 14.7 million square feet of retail properties in the Southeast. SunTrust Banks SunTrust Banks, Inc. (NYSE: STI) is an American bank holding company. The largest subsidiary is SunTrust Bank. It had $182.2 billion in assets as of December 31, 2006. , Inc., headquartered in Atlanta, Georgia, is one of the nation's largest commercial banking organizations. As of September 30, 2002, SunTrust had total assets of $112.4 billion and total deposits of $73.8 billion. The company operates through an extensive distribution network in Alabama, Florida, Georgia, Maryland, Tennessee, Virginia and the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). and also serves customers in selected markets nationally. Gate Petroleum operates 150 state-of-the-art service stations with convenience stores The following is a list of convenience stores organized by geographical location. Stores are grouped by the lowest heading that contains all locales in which the brands have significant presence. in seven Southeastern states. From its Jacksonville, Florida “Jacksonville” redirects here. For other uses, see Jacksonville (disambiguation). Jacksonville is the largest city in the state of Florida and the county seat of Duval County. headquarters, Gate also operates six concrete plants located in Florida, Alabama, Kentucky, Tennessee, North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures Area, 52,586 sq mi (136,198 sq km). Pop. , and Texas. In addition, Gate owns and operates three private clubs -- The Ponte Vedra Inn & Club, Epping Forest Ep·ping Forest A former royal hunting preserve of southeast England northeast of London. It is now a public park. Yacht Club, and The Lodge & Club. Real estate holdings throughout the Southeast include Deerwood Park, a 1,000-acre office park in Jacksonville, Riverplace Tower in downtown Jacksonville, and the Blount Island maritime complex on the St. Johns River Johns River may refer to any of the following rivers in the United States:
Extent and Seas . About St. Joe St. Joe Commercial is the commercial real estate development unit of The St. Joe Company, based in Jacksonville. St. Joe Commercial has developed over 3.5 million square feet of commercial and industrial space since its inception in 1998. Advantis/GVA is St. Joe's full-service real estate firm that leases, manages and sells office, industrial, retail and other commercial real estate projects and sites. The company also provides construction, corporate real estate and strategic consulting services to clients. Advantis has regional offices throughout the Southeast and employs more than 500 commercial real estate professionals. The company leases and manages more than 30 million square feet of commercial facilities, and produces annual transaction volumes in excess of $1.4 billion. Arvida is a primary developer of master-planned residential, resort and business communities nationwide. Since Arthur Vining Davis Arthur Vining Davis (May 30, 1867 – November 17, 1962), American industrialist and philanthropist, was born in Sharon, Massachusetts, the son of Perley B. Davis, a Congregational minister, and Mary Frances. founded the company more than 40 years ago, it has completed more than 60 planned communities comprising more than 40,000 new homes and 28 golf courses in Florida, Georgia, Texas, California and North Carolina. St. Joe, a publicly held company based in Jacksonville, Florida, is one of the state's largest real estate operating companies operating company A business that engages in transactions with outsiders. . It is engaged in community, commercial, industrial, hospitality, leisure and resort development, along with commercial real estate services. The company also has significant interests in timber. For more information on St. Joe, visit http://www.joe.com. Copyright 2003 The St. Joe Company, "St. Joe Commercial," "Advantis," "SouthWood," and the "taking flight" logo are service marks of The St. Joe Company. Arvida is a registered trademark. Forward-Looking Statements Certain matters discussed in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Some matters involve risk and uncertainty, and there can be no assurance that the results described in such forward-looking statements will be realized. In particular, discussions regarding the size and number of commercial properties and buildings, expected development timetables and development approvals, and the ability to obtain approvals, are forward-looking statements. Such statements are based on current expectations and are subject to certain risks. Should one or more of these risks or uncertainties materialize or should the underlying assumptions prove incorrect, the company's actual performance may differ materially from that indicated or suggested by any forward-looking statement contained herein. Additional risk factors that may cause actual results to differ materially from those expressed in forward-looking statements contained in the press release are described in various documents filed by the company with the U.S. Securities and Exchange Commission, including the company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 2001 and a Prospectus dated June 17, 2002. |
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