St. Joe Auctioning Off 3,000 Acres Online

12 03 2008

The St. Joe Co. is using the Internet to auction off more than 3,000 acres of land in the Florida Panhandle.

The bid deadline is May 1 and the offering includes land in three St. Joe properties — slightly more than 3,000 acres of recreational property in Gadsden County near Tallahassee called Concord, 56 acres in Port St. Joe with plans in place for an 18-lot residential subdivision called Sabel Island, and 29.5 acres in Bay County near Panama City that is residentially zoned for 50-60 lots called Brewton Lane.

During the online auction marketing campaign, buyers will have the opportunity to bid on one or all of the properties at Concord, Sabel Island and Brewton Lane. Clay Smallwood, president of land sales at St. Joe, said the company chose the online auction to reach a national and international market for the land that is not part of the company’s strategy for its core development business.

LFC Group of Cos. of Newport, Calif., is the Internet real estate auction marketing firm that will conduct the auction.

Based in Jacksonville, The St. Joe Co. is one of Florida’s largest real estate operating companies. It focuses on real estate development and sales, with significant interests in timber. At the end of September 2007, it owned about 718,000 acres, mainly in northwest Florida, and had $1.2 billion in assets.

Source: Jacksonville Business Journal


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