1
SUPPLEMENTAL INFORMATION
FOR THE PERIOD ENDING 3-31-01
[THE ST JOE COMPANY LOGO]
2
FORWARD LOOKING STATEMENT
This document contains "forward-looking statements" as defined by the Private
Securities Litigation Reform Act of 1995. These statements can be identified by
the fact that they do not relate strictly to historical or current facts.
Forward-looking statements often use words such as "anticipate", "expect",
"estimate", "intend", "plan", "goal", "believe" or other words of similar
meaning. All forward-looking statements, by their nature, are subject to risks
and uncertainties. The Company's actual future results may differ materially
from those set forth in the Company's forward-looking statements. In particular,
discussions regarding (a) the size and number of commercial buildings and
residential units; (b) development timetables, development approvals and the
ability to obtain approvals; (c) anticipated price ranges of developments; (d)
the number of units that can be supported upon full build-out; (e) absorption
rates; and (f) expected gain on land sales are forward-looking statements. For
further information about forward-looking statements, the reader should consult
the disclosures contained in the periodic reports filed by the Company with the
Securities and Exchange Commission. and in the Company's other written
materials.
[The St. Joe Company Logo]
3
SUPPLEMENTAL INFORMATION - ST. JOE COMMERCIAL
FOR THE PERIOD ENDING 3-31-01
[THE ST. JOE COMPANY LOGO]
4
ST. JOE COMMERCIAL
LAND POSITIONS HELD FOR INVESTMENT
MARCH 31, 2001
($ IN THOUSANDS)
ENTITLED ORIGINAL
MARKET ACRES SQ. FT.(A) COST
------ ----- ---------- --------
SOUTHEAST
- ---------
Glenlake Atlanta, GA 18.2 850,000
Parkstone Plaza Chantilly, VA 19.1 240,000
Lakeside at Frisco Bridges Dallas, TX 60.3 1,458,000
3001 Knox Dallas, TX 2.5 245,000
Westchase Houston, TX 4.5 150,000
Oak Park at Westchase Houston, TX 54.9 1,460,000
----- ----------
159.5 4,403,000
----- ----------
NORTHEAST FLORIDA
- -----------------
Golfway Center St. Augustine, FL 23.3 167,500
Currington Jacksonville, FL 0.3 -
----- ----------
23.6 167,500
----- ----------
CENTRAL FLORIDA
- ---------------
Millenia Park Orlando, FL 21.7 592,000
----- ----------
SOUTH FLORIDA
- --------------
Beacon Square at Boca Boca Raton, FL 18.3 282,000
----- ----------
TOTAL 223.2 5,444,500 $ 72,000
===== ========== ========
(a) Excludes entitlements related to land parcels that have been developed.
5
ST. JOE COMMERCIAL
PROJECTS UNDER DEVELOPMENT
MARCH 31, 2001
CONSTRUCTION
NET RENTABLE COMPLETION STABILIZATION
MARKET OWNERSHIP % SQUARE FEET LEASED % DATE DATE
------ ----------- ------------ -------- ------------ -------------
SOUTHEAST
- ---------
CAREington Int'l. Dallas, TX 100% 74,000 100% 3Q/01 3Q/01
------------
NORTHWEST FLORIDA
- -----------------
Southwood(a) Tallahassee, FL 100% 88,000 0% 1Q/02 1Q/03
------------
NORTHEAST FLORIDA
- -----------------
TNT Logistics(a) Jacksonville, FL 100% 99,000 70% 1Q/02 3Q/02
Golfway Center (Tree of Life)(a) St. Augustine, FL 100% 69,000 75% 4Q/01 3Q/02
------------
168,000
------------
SOUTH FLORIDA
- -------------
IBM Boca Raton, FL 100% 160,000 100% 2Q/01 3Q/01
------------
160,000
------------
TOTAL 490,000
============
(a) Currently in predevelopment.
6
ST. JOE COMMERCIAL
PORTFOLIO OF OPERATING PROPERTIES
MARCH 31, 2001
($ IN THOUSANDS)
NET ANNUAL
# OF RENTABLE LEASED NET OPERATING
MARKET OWNERSHIP % BUILDINGS SQ. FT. PERCENTAGE INCOME(D)
------ ----------- --------- ------- ---------- ----------
INVESTMENT PROPERTY PORTFOLIO
- -----------------------------
Prestige Place Clearwater, FL 100% 2 143,000 95% $ 5,439
Harbourside Clearwater, FL 100% 1 147,000 76% 1,315
Lakeview Tampa, FL 100% 1 125,000 94% 1,394
Palm Court Tampa, FL 100% 1 62,000 93% 618
Westside Corporate Center Plantation, FL 100% 1 100,000 95% 1,276
280 Interstate North Atlanta, GA 100% 1 126,000 92% 1,366
Southhall Center (a) Orlando, FL 100% 1 155,000 97% 1,948
-- ------- -- ------
8 858,000 92% 13,356
-- ------- -- ------
DEVELOPMENT PROPERTY PORTFOLIO
- ------------------------------
CNL Center Orlando, FL 50% 1 346,000 94% 6,500 (e)(f)
Millenia Park One Orlando, FL 50% 1 158,000 85% 2,500 (e)(f)
Alliance Bank Building(b) Orlando, FL 50% 1 71,000 86% 555 (e)
NCCI(c) Boca Raton, FL 100% 1 290,000 100% 4,844
355 Alhambra Coral Gables, FL 45% 1 224,000 40% 4,966 (e)(f)
Park Center Panama City, FL 100% 2 23,000 87% 197
Deerfield Commons I Atlanta, GA 40% 1 122,000 97% 1,767 (e)
Westchase Corporate Center Houston, TX 93% 1 184,000 74% 2,500 (e)(f)
-- --------- -- --------
9 1,418,000 83% 23,829
-- --------- -- --------
TOTAL 17 2,276,000 86% $ 37,185
== ========= == ========
(a) Property acquired on April 2, 2001.
(b) Property expected to be redeveloped.
(c) Property sold on April 12, 2001.
(d) Represents budgeted net operating income.
(e) All information is shown at 100%.
(f) Represents proforma net operating income at stabilization.
7
SUPPLEMENTAL INFORMATION - ARVIDA
FOR THE PERIOD ENDING 3-31-01
[THE ST JOE COMPANY LOGO]
8
------------------------------------------------------ -----------
ST. JOE/ARVIDA WALTON COUNTY
DESCRIPTION OF COMMUNITIES WATERCOLOR WATERSOUND CAMP CREEK GOLF CLUB SUMMERWOOD
As of March 31, 2001 ------------------------------------------------------ -----------
YEAR SALES BEGIN 2000 2001 2003 1998
YEAR OF COMPLETION 2009 2010 2003 2002
ACRES IN COMMUNITY 499 256 1,203 79
TOTAL PLANNED UNITS
Arvida Built 374 140 20 152
Retail Lots/Outside Builder 766 410 0 67
----- ---- ----- ----
TOTAL 1,140 550 20 219
SALES, AS OF MARCH 31, 2001
Arvida Built 36 0 0 112
Retail Lots/Outside Builder 77 0 0 67
----- ---- ----- ----
TOTAL 113 0 0 179
REMAINING TO BE SOLD
Arvida Built 338 140 20 40
Retail Lots/Outside Builder 689 410 0 0
----- ---- ----- ----
TOTAL 1,027 550 20 40
STABILIZED ABSORPTIONS 95 65 20 48
ARVIDA-BUILT HOUSE PRICING (IN THOUSANDS) $400 - $1,000+ $900 - $1,000+ $325 $120 - 175
LOT PRICING (IN THOUSANDS)
$150 - $1,000+ $200 - $1,000+
AMENITIE Resort Resort 36 Holes of Golf Pool
Beach Club Beach Club
Boat House Tennis Facility
Tennis Facility
Parks
Pedestrian Trails
------------------------------------------------------------------------------
BAY COUNTY
WOODRUN HAMMOCKS BAY COUNTY LOT PROGRAM HUNTINGTON W. LAKE POWELL
------------------------------------------------------------------------------
YEAR SALES BEGIN 1998 2000 2000 2001 2004
YEAR OF COMPLETION 2001 2006 2016 2005 2018
ACRES IN COMMUNITY 25 143 225 138 1,550
TOTAL PLANNED UNITS
Arvida Built 22 475 0 268 1,145
Retail Lots/Outside Builder 29 0 447 0 755
---- ---- ---- --- -----
TOTAL 51 475 447 268 1,900
SALES, AS OF MARCH 31, 2001
Arvida Built 20 8 0 0 0
Retail Lots/Outside Builder 21 0 11 0 0
---- ---- ---- --- -----
TOTAL 41 8 11 0 0
REMAINING TO BE SOLD
Arvida Built 2 467 0 268 1,145
Retail Lots/Outside Builder 8 0 436 0 755
---- ---- ---- --- -----
TOTAL 10 467 436 268 1,900
STABILIZED ABSORPTIONS 25 90 150
ARVIDA-BUILT HOUSE PRICING (IN THOUSANDS) $225 $90 - $150 $95 - $150 $175 - 400+
LOT PRICING (IN THOUSANDS)
$ 32 $30 - $35 $105 - $120
AMENITIES None Tot lots None Pool 18 Holes of Golf
Bike Paths Beach club
9
CAPITOL
GULF COUNTY REGION
--------------------------------------------------------- ----------
ST. JOE/ARVIDA THE POINT AT ST JOE BEACH MEXICO BEACH SABAL BEACH SOUTHWOOD
DESCRIPTION OF COMMUNITIES -------------------------------------------------------------------------------
AS OF MARCH 31, 2001
YEAR SALES BEGIN 2001 2003 2004 2000
YEAR OF COMPLETION 2005 2015 2020 2020
ACRES IN COMMUNITY 80 946 810 3,800
TOTAL PLANNED UNITS
Arvida Built 1 150 0 2,707
Retail Lots/Outside Builder 111 615 1,600 1,543
--- ----- -----
TOTAL 112 765 1,600 4,250
SALES, AS OF MARCH 31, 2001
Arvida Built 0 0 0 34
Retail Lots/Outside Builder 0 0 0 31
--- --- ----- -----
TOTAL 0 0 0 65
REMAINING TO BE SOLD
Arvida Built 1 150 0 2,673
Retail Lots/Outside Builder 111 615 1,600 1,512
--- ----- -----
TOTAL 112 765 1,600 4,185
STABILIZED ABSORPTIONS 31 50 120 265
ARVIDA-BUILT HOUSE PRICING (IN THOUSANDS) 250+ $115 - $300
LOT PRICING (IN THOUSANDS) $90 - $400+ $90 - $600+ 150+ $40 - $125
AMENITIES Beach club Beach club Beach club 18 holes of golf
Marina Marina Marina Pedestrian trails
Aquatic facility
Tennis facility
Clubhouse (AA)
Beach Club
CAPITOL REGION JACKSONVILLE
-------------- ----------------------------------------------------------------
ST. JOE/ARVIDA SUMMERCAMP RIVERTOWN JAMES ISLAND ST. JOHN'S G. & C.C. HAMPTON PARK
DESCRIPTION OF COMMUNITIES --------------------------------------------------------------------------------------
AS OF MARCH 31, 2001
YEAR SALES BEGIN 2003 2000 1999 2001 2001
YEAR OF COMPLETION 2013 2018 2003 2006 2004
ACRES IN COMMUNITY 750 4,346 194 820 150
TOTAL PLANNED UNITS
Arvida Built 450 365 533 158
Retail Lots/Outside Builder 150 N/A 0 266 0
--- ----- --- --- ---
TOTAL 600 365 799 158
SALES, AS OF MARCH 31, 2001
Arvida Built 0 0 209 33 0
Retail Lots/Outside Builder 0 21 0 25 0
--- ----- --- --- ---
TOTAL 0 21 209 58 0
REMAINING TO BE SOLD
Arvida Built 450 156 500 158
Retail Lots/Outside Builder 150 N/A 0 241 0
--- ----- --- --- ---
TOTAL 600 156 741 158
STABILIZED ABSORPTIONS 60 N/A 90 140 70
ARVIDA-BUILT HOUSE PRICING (IN THOUSANDS) $250 - $450+ N/A $175 - $450 $175 - $350 $200 - $350
LOT PRICING (IN THOUSANDS) $75 - $250+ N/A $30 - $70
AMENITIES Beach club Marina Tennis facility 18 holes of golf
Marina 18 holes of golf Pool Clubhouse
Pedestrian trails Clubhouse Sports fields Aquatic facility
Aquatic facility Tot lot Sports fields
Sports fields Tot lots
10
CENTRAL FLORIDA SOUTH FLORIDA MIDATLANTIC OPERATIONS
-------------------------------------------------------------
ST. JOE/ARVIDA VICTORIA PARK JUPITER WOODS INCLUDING SAUSSY BURBANK
DESCRIPTION OF COMMUNITIES -------------------------------------------------------------
AS OF MARCH 31, 2001
YEAR SALES BEGIN 2001 2001 1999
YEAR OF COMPLETION 2011 2006 Ongoing
ACRES IN COMMUNITY 1859 175 N/A
TOTAL PLANNED UNITS
Arvida Built 2,630 326
Retail Lots/Outside Builder 993 0 N/A
----- ---
TOTAL 3,623 326
SALES, AS OF MARCH 31, 2001
Arvida Built 2 0 99
Retail Lots/Outside Builder 3 0 0
----- --- ---
TOTAL 5 0 99
REMAINING TO BE SOLD
Arvida Built 2,628 326
Retail Lots/Outside Builder 990 0 N/A
----- ---
TOTAL 3,618 326
STABILIZED ABSORPTIONS 440 102 400+
ARVIDA-BUILT HOUSE PRICING (IN THOUSANDS) $120 - $300 $225 - $350 $110 - $380
LOT PRICING (IN THOUSANDS) $45 - $75
AMENITIES 18 holes of golf Pool Varies By
Clubhouse Club House Community
Clubhouse (AA)
Aquatic facility
Sports fields
Note: Some of the projects discussed above are in various stages of planning and
development and some have not obtained all of the necessary development permits
and entitlements.