St. Joe sells most of land

WATERSOUND, Fla. – The St. Joe Co. announced an agreement Thursday to sell more than two-thirds of its Northwest Florida landholdings. Utah-based AgReserves Inc. will buy 382,834 acres of rural timberland for $565 million, leaving St. Joe with about 184,000 acres of land primarily between Tallahassee and Destin. The acreage being sold is in Bay, Calhoun, Frankly, Gadsden, Gulf, Jefferson, Leon, Liberty and Wakulla counties. AgReserves intends to maintain timber and agricultural uses of the lands. (Sources: News Herald, St. Joe, 11/07/13) St. Joe, originally a paper company and second largest landowner in Florida, in recent years became a real estate developer. It donated land to establish Northwest Florida Beaches International Airport near Panama City. Previous: New Panama City airport set to open; Panama City airport gets Southwest