The St. Joe Company, a publicly held, operationally diverse real estate company, is based in Jacksonville, Florida. It is one of Florida's largest real estate operating companies. St. Joe is engaged in town, resort, commercial, and industrial development, land sales, and commercial real estate services. It also has significant interests in the timber industry. During the 3rd quarter of 2006, JOE completed a corporate reorganization, which included an exit from the business of building homes. As a result of the reorganization, JOE's business segment names have been changed from St. Joe Towns & Resorts, St. Joe Commercial and St. Joe Land Company to Residential Real Estate, Commercial Real Estate and Land Sales, respectively.
As of September 30, the company owned 718,240 acres of land, including approximately 311,009 acres within 10 miles of the coast of the Gulf of Mexico and 14,406 acres in southeast Georgia. The company owns approximately 2% of the land area of the entire state of Florida. At the end of the 3rd quarter 2007, JOE's residential development division had entitlements on 46,700 units and 14.8 million square feet of commercial space. An additional 628 acres were marked for commercial uses.