1
Supplemental Information
For the Period Ending 6-30-01
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[LOGO] THE ST JOE COMPANY
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.
[LOGO] ST JOE
3
Supplemental Information - St. Joe Commercial
For the Period Ending 6-30-01
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[LOGO] THE ST JOE COMPANY
4
ST. JOE COMMERCIAL
LAND POSITIONS HELD FOR INVESTMENT
JUNE 30, 2001
($ in thousands)
ENTITLED ORIGINAL
SOUTHEAST MARKET ACRES SQ. FT.(a) COST
- --------- ------ ----- ---------- --------
Glenlake Atlanta, GA 18.2 850,000
Parkstone Plaza Chantilly, VA 19.1 240,000
Lakeside at Frisco Bridges Dallas, TX 58.0 1,458,000
Westchase Houston, TX 4.5 150,000
Oak Park at Westchase Houston, TX 54.9 1,460,000
----- ---------
154.8 4,158,000
----- ---------
NORTHEAST FLORIDA
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Golfway Center St. Augustine, FL 23.3 167,500
Currington Jacksonville, FL 0.3 --
----- ---------
23.6 167,500
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CENTRAL FLORIDA
- --------------- ----- ---------
Millenia Park Orlando, FL 21.7 592,000
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SOUTH FLORIDA
- ------------- ----- ---------
Beacon Square at Boca Boca Raton, FL 18.3 282,000
----- ---------
===== ========= ========
TOTAL 218.4 5,199,540 $ 65,000
===== ========= ========
(a) Excludes entitlements related to land parcels that have been developed.
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ST. JOE COMMERCIAL
PROJECTS UNDER DEVELOPMENT
JUNE 30, 2001
CONSTRUCTION
NET RENTABLE COMPLETION STABILIZATION
MARKET OWNERSHIP % SQUARE FEET PRE-LEASED % DATE DATE
------ ----------- ------------ ------------ ---------- -------------
SOUTHEAST
- ---------
CAREington International Dallas, TX 100% 74,000 100% 3Q/01 3Q/01
NORTHWEST FLORIDA
- --------- -------
SouthWood One Tallahassee, FL 100% 88,000 0% 1Q/02 1Q/03
Beckrich One (a) Panama City Beach, FL 100% 34,000 17% 2Q/02 2Q/03
Nextel Partners Panama City Beach, FL 100% 67,000 100% 4Q/01 4Q/02
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189,000
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NORTHEAST FLORIDA
- --------- -------
TNT Logistics Jacksonville, FL 100% 99,000 67% 1Q/02 3Q/02
Golfway Center (Tree of Life) St. Augustine, FL 100% 70,000 72% 4Q/01 3Q/02
--------
169,000
--------
========
TOTAL 432,000
========
(a) Currently in predevelopment.
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ST. JOE COMMERCIAL
PORTFOLIO OF OPERATING PROPERTIES
JUNE 30, 2001
($ in thousands)
NET ANNUAL
# OF RENTABLE LEASED NET OPERATING
MARKET OWNERSHIP % BUILDINGS SQ. FT. PERCENTAGE INCOME (B)
--------------- ----------- --------- ---------- ---------- -------------
INVESTMENT PROPERTY PORTFOLIO
- -----------------------------
Prestige Place Clearwater, FL 100% 2 143,000 95% $ 1,239
Harbourside Clearwater, FL 100% 1 147,000 76% 1,315
Lakeview Tampa, FL 100% 1 125,000 92% 1,394
Palm Court Tampa, FL 100% 1 62,000 93% 618
Westside Corporate Center Plantation, FL 100% 1 100,000 75% 1,276
280 Interstate North Atlanta, GA 100% 1 126,000 92% 1,366
Southhall Center Orlando, FL 100% 1 155,000 97% 1,948
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8 858,000 89% 9,156
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DEVELOPMENT PROPERTY PORTFOLIO
- ------------------------------
CNL Center Orlando, FL 50% 1 346,000 95% 6,500 (c)(d)
Millenia Park One Orlando, FL 50% 1 158,000 89% 2,500 (c)(d)
Alliance Bank Building (a) Orlando, FL 50% 1 71,000 86% 555 (c)
IBM Boca Raton, FL 100% 1 160,000 100% 2,736
355 Alhambra Coral Gables, FL 45% 1 224,000 52% 5,000 (c)(d)
Park Center Panama City, FL 100% 2 22,000 88% 197
Deerfield Commons I Atlanta, GA 40% 1 122,000 99% 1,767 (c)
Westchase Corporate Center Houston, TX 93% 1 184,000 85% 2,500 (c)(d)
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9 1,287,000 86% 21,755
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==============================================
TOTAL 17 2,145,000 87% $30,911
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(a) Property expected to be redeveloped.
(b) Represents budgeted net operating income.
(c) All information is shown at 100%.
(d) Represents proforma net operating income at stabilization.
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ST. JOE COMMERCIAL
PORTFOLIO OF OPERATING PROPERTIES -
LEASING EXPIRATIONS
JUNE 30, 2001
NET
RENTABLE LEASED
MARKET OWNERSHIP % SQ. FT. PERCENTAGE
------ ----------- --------- ----------
INVESTMENT PROPERTY PORTFOLIO
Prestige Place Clearwater, FL 100% 143,000 95%
Harbourside Clearwater, FL 100% 147,000 76%
Lakeview Tampa, FL 100% 125,000 92%
Palm Court Tampa, FL 100% 62,000 93%
Westside Corporate Center Plantation, FL 100% 100,000 75%
280 Interstate North Atlanta, GA 100% 126,000 92%
Southhall Center Orlando, FL 100% 155,000 97%
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858,000 89%
-------------------------
DEVELOPMENT PROPERTY PORTFOLIO
CNL Center Orlando, FL 50% 346,000 95%
Millenia Park One Orlando, FL 50% 158,000 89%
Alliance Bank Building Orlando, FL 50% 71,000 86%
IBM Boca Raton, FL 100% 160,000 100%
355 Alhambra Coral Gables, FL 45% 224,000 52%
Park Center Panama City, FL 100% 22,000 88%
Deerfield Commons I Atlanta, GA 50% 122,000 99%
Westchase Corporate Center Houston, TX 93% 184,000 85%
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1,287,000 86%
-------------------------
TOTAL 2,145,000 87%
=========================
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LEASE EXPIRATIONS (SQUARE FEET)
-------------------------------------------------------------------------
2006 AND
2001 2002 2003 2004 2005 THEREAFTER
------ ------- ------ ------- ------- ----------
INVESTMENT PROPERTY PORTFOLIO
Prestige Place 11,000 19,000 52,000 27,000 9,000 17,000
Harbourside 9,000 28,000 18,000 29,000 7,000 21,000
Lakeview 4,000 8,000 -- 60,000 21,000 22,000
Palm Court -- 2,000 56,000 -- -- --
Westside Corporate Center 1,000 5,000 13,000 8,000 39,000 9,000
280 Interstate North -- -- 52,000 14,000 51,000 --
Southhall Center 5,000 12,000 68,000 41,000 27,000 --
------------------------------------------------------------------------
30,000 74,000 259,000 179,000 154,000 69,000
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DEVELOPMENT PROPERTY PORTFOLIO
CNL Center -- -- 9,000 -- 14,000 306,000
Millenia Park One -- -- -- -- 44,000 97,000
Alliance Bank Building -- 22,000 38,000 -- -- --
IBM -- -- -- -- -- 160,000
355 Alhambra -- -- -- -- -- 117,000
Park Center 7,000 8,000 1,000 -- -- 4,000
Deerfield Commons I -- -- -- -- 32,000 88,000
Westchase Corporate Center -- -- -- -- 94,000 62,000
------------------------------------------------------------------------
7,000 30,000 48,000 -- 184,000 834,000
------------------------------------------------------------------------
TOTAL 37,000 104,000 307,000 179,000 338,000 903,000
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2% 5% 17% 10% 18% 48%
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SUPPLEMENTAL INFORMATION - ARVIDA
FOR THE PERIOD ENDING 6-30-01
[ST JOE COMPANY LOGO]
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ST. JOE/ARVIDA ---------------------WALTON COUNTY--------------------- ------BAY COUNTY--------
DESCRIPTION OF COMMUNITIES WATERCOLOR WATERSOUND CAMP CREEK GOLF CLUB SUMMERWOOD HAMMOCKS
As of June 30, 2001
YEAR SALES BEGIN 2000 2001 2003 1998 2000
YEAR OF COMPLETION 2009 2010 2003 2002 2006
ACRES IN COMMUNITY 499 256 1,203 79 143
TOTAL PLANNED UNITS
Arvida Built 374 140 20 152 475
Retail Lots/Outside Builder 717 410 0 67 0
------ ---- ------ ---- ----
TOTAL 1,091 550(E) 20 219 475
SALES, AS OF JUNE 30, 2001
Arvida Built 54 0 0 123 24
Retail Lots/Outside Builder 104 0 0 67 0
------ ---- ------ ---- ----
TOTAL 158 0 0 190 24
REMAINING TO BE SOLD
Arvida Built 320 140 20 29 451
Retail Lots/Outside Builder 613 410 0 0 0
------ ---- ------ ---- ----
TOTAL 933 0 20 29 451
STABILIZED ABSORPTIONS 95 65 20 48 100
ARVIDA-BUILT HOUSE PRICING (IN THOUSANDS) $400 - $1,000+ $900 - $1,000+ $325 $120 - 175 $90 - $150
LOT PRICING (IN THOUSANDS) $150 - $1,000+ $200 - $1,000+
AMENITIES Resort Resort 36 Holes of Golf Pool Tot lots
Beach Club Beach Club Clubhouse Bike Paths
Boat House Tennis Facility
Tennis Facility
Parks
Pedestrian Trials
ST. JOE/ARVIDA --------------------BAY COUNTY----------------------
DESCRIPTION OF COMMUNITIES BAY COUNTY LOT PROGRAM HUNTINGTON W. LAKE POWELL
As of June 30, 2001
YEAR SALES BEGIN 2000 2001 2004
YEAR OF COMPLETION 2016 2005 2018
ACRES IN COMMUNITY 225 138 1,550
TOTAL PLANNED UNITS
Arvida Built 0 268 1,145
Retail Lots/Outside Builder 447 0 755
---- ---- ------
TOTAL 447 268 1,900(E)
SALES, AS OF JUNE 30, 2001
Arvida Built 0 0 0
Retail Lots/Outside Builder 13 0 0
---- ---- ------
TOTAL 13 0 0
REMAINING TO BE SOLD
Arvida Built 0 268 1,145
Retail Lots/Outside Builder 434 0 755
---- ---- ------
TOTAL 434 268 0
STABILIZED ABSORPTIONS 25 90 150
ARVIDA-BUILT HOUSE PRICING (IN THOUSANDS) $95 - $150 $175 - 400+
LOT PRICING (IN THOUSANDS) $30 - $35 $105 - $120
AMENITIES None Pool 18 Holes of Golf
Clubhouse
Beach club
(E) = ESTIMATED
(1) = 50% JOINT VENTURE
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ST. JOE/ARVIDA ---------------GULF COUNTY--------------- ------------CAPITOL REGION-----------
DESCRIPTION OF COMMUNITIES WINDMARK BEACH MEXICO BEACH WINDMARK SOUTHWOOD SUMMERCAMP
AS OF JUNE 30, 2001 ---------------------------------------------------------------------------------
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YEAR SALES BEGIN 2001 2003 2004 2000 2003
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YEAR OF COMPLETION 2005 2015 2020 2020 2013
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ACRES IN COMMUNITY 80 946 810 3,770 750
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TOTAL PLANNED UNITS
Arvida Built 2 150 0 2,707 350
Retail Lots/Outside Builder 109 615 1,600 1,543 150
---- ---- ----- ----- ----
TOTAL 111 765(E) 1,600(E) 4,250 500(E)
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SALES, AS OF JUNE 30, 2001
Arvida Built 0 0 0 62 0
Retail Lots/Outside Builder 2 0 0 55 0
---- ---- ----- ----- ----
TOTAL 2 0 0 117 0
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REMAINING TO BE SOLD
Arvida Built 2 150 0 2,645 350
Retail Lots/Outside Builder 107 615 1,600 1,488 150
---- ---- ----- ----- ----
TOTAL 109 765(E) 1,600(E) 4,133 500(E)
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STABILIZED ABSORPTIONS 31 50 120 265 60
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ARVIDA-BUILT HOUSE PRICING (IN THOUSANDS) 250+ $115 - $300 $250 - $450+
LOT PRICING (IN THOUSANDS) $90 - $400+ $90 - $600+ 150+ $40 - $125 $75 - $250+
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AMENITIES Beach club Beach club Beach club 18 holes of golf Beach club
Community Dock Marina Marina Pedestrian trails Marina
Aquatic facility Pedestrian trails
Tennis facility
Clubhouse(AA)
Beach Club
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ST. JOE/ARVIDA ---------------------------------------JACKSONVILLE--------------------
DESCRIPTION OF COMMUNITIES RIVER TOWN JAMES ISLAND ST. JOHN'S G. & C.C. HAMPTON PARK
AS OF JUNE 30, 2001 -----------------------------------------------------------------------
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YEAR SALES BEGIN 2000 1999 2001 2001
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YEAR OF COMPLETION 2018 2003 2006 2004
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ACRES IN COMMUNITY 4,346 194 820 150
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TOTAL PLANNED UNITS
Arvida Built 4,016 365 533 158
Retail Lots/Outside Builder 2,977 0 266 0
----- ---- ---- ----
TOTAL 6,993 365 799 158
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SALES, AS OF JUNE 30, 2001
Arvida Built 0 234 75 0
Retail Lots/Outside Builder 22 0 44 0
----- ---- ----
TOTAL 22 234 119 0
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REMAINING TO BE SOLD
Arvida Built 4,016 131 458 158
Retail Lots/Outside Builder 2,955 0 222 0
----- ---- ---- ----
TOTAL 6,971 131 680 158
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STABILIZED ABSORPTIONS N/A 90 140 70
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ARVIDA-BUILT HOUSE PRICING (IN THOUSANDS) N/A $175 - $450 $175 - $350 $200 - $350
LOT PRICING (IN THOUSANDS) N/A $30 - $70
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AMENITIES Marina Tennis facility 18 holes of golf
18 holes of golf Pool Clubhouse
Clubhouse Sports fields Aquatic facility
Aquatic facility Tot lot Sports fields
Sports fields Tot lots
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(E) = ESTIMATED
(1) = 50% JOINT VENTURE
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ST. JOE/ARVIDA ---CENTRAL FLORIDA---- ---------SOUTH FLORIDA-------- (1) --MIDATLANTIC OPERATIONS-
DESCRIPTION OF COMMUNITIES VICTORIA PARK PERICO JUPITER WOODS RIVERCREST INCLUDING SAUSSY BURBANK
AS OF JUNE 30, 2001 --------------------------------------------------------------------------------------
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YEAR SALES BEGIN 2001 2003 2002 2001 1999
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YEAR OF COMPLETION 2011 2009 2006 2009 Ongoing
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ACRES IN COMMUNITY 1,859 225 175 413 N/A
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TOTAL PLANNED UNITS
Arvida Built 2,630 794 325 1,027
Retail Lots/Outside Builder 993 0 0 332 N/A
----- --- ---- -----
TOTAL 3,623 794 325 1,359
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- -----------------------------------------------------------------------------------------------------------------------------------
SALES, AS OF JUNE 30, 2001
Arvida Built 9 0 0 0 233
Retail Lots/Outside Builder 5 0 0 0 0
----- --- ---- ----- ----
TOTAL 14 0 0 0 233
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REMAINING TO BE SOLD
Arvida Built 2,621 794 325 1,027
Retail Lots/Outside Builder 988 0 0 332 N/A
----- --- ---- -----
TOTAL 3,609 794 325 1,359
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STABILIZED ABSORPTIONS 440 160 102 218 550
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ARVIDA-BUILT HOUSE PRICING (IN THOUSANDS) $120 - $300 $270 - $450 $225 - $350 $90 - $200 $110 - $380
LOT PRICING (IN THOUSANDS) $45 - $75 $30 - $40
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- -----------------------------------------------------------------------------------------------------------------------------------
AMENITIES 18 holes of golf Beach club Pool Pool Varies By
Clubhouse Fitness center Club House Club House Community
Clubhouse(AA) Aquatic facility Sports fields
Aquatic facility Tennis facility Tennis facility
Sports fields Marina Tot lot
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(E) = ESTIMATED
(1) = 50% JOINT VENTURE