St. Joe Company Land Auction
With less than one month until the bid deadline, all three parcels of land owned by St. Joe—Concord, Sabal Island and Brewton Lane—have received considerable interest from buyers across the country and internationally. The St. Joe Company, one of Florida’s largest landowners and developers, took a proactive step in selecting the LFC Group of Companies, a California-based Internet real estate auction marketing firm, to offer these three properties on their website LFC Online (www.LFC.com/706R6). St. Joe felt that the online auction process would deliver the broad market exposure they were looking for and allow them to explore a different marketing and sales method. All three properties, located in the Florida Panhandle, have tremendous development potential, affording their future owners an incredible investment opportunity.
Concord is more than 3,000 acres of recreational property located in Gadsden County, just 15 miles from downtown Tallahassee. The parcel’s prime location, development potential and unique features, such as its rolling terrain, oak canopies, river frontage and abundant wildlife make it ideal for various uses.
Located in Port St. Joe, Sabal Island is roughly a 56-acre parcel with plans in place for an 18-lot residential subdivision on the upland area of the property. Included within this parcel lies a 1.3-acre isolated upland area/island along beautiful St. Joseph’s Bay, known for its white sands, pristine waters and some of the best fishing in Florida. In addition to the home sites, a kayak launch has been constructed on a deep-water canal that empties into St. Joseph’s Bay, and current plans and permits call for the development of a pedestrian boardwalk, from the upland area of the property to the small private island. Its proximity to picturesque WindMark Beach and St. Joseph’s Bay Aquatic Preserve prevents future development around the property and preserves its secluded feel. The property is situated approximately two hours from Tallahassee, an hour from Panama City and a stone’s throw from St. Joseph’s Peninsula State Park Beach. Valued at $5 million, a bid deposit of only $10,000 is required to place a bid, and an investor may be able to purchase the property at a bargain price, with its minimum bid of only $1 million.
Located along Deer Point Lake in Bay County, Brewton Lane is approximately 29.5 acres of residential property. The lake, which covers about 5,000 acres, offers recreational activities like swimming, fishing and boating. The property is conveniently located less than 15 miles from Panama City, near shopping, dining, hospitals, schools and an international airport, making it a perfect place for future high-end residential development. Though the property is valued at $4.5 million, a buyer has the opportunity to get a deal with its minimum bid of only $1 million and a $10,000 bid deposit.
“We have received substantial interest for these properties from prospective buyers,” says Kelly Lovegrove, Director of Operations at the LFC Group of Companies. “With about a month until the bid deadline, these prospects are doing their ‘homework’ and due diligence, by downloading and reviewing the detailed property documents on the website and scheduling appointments to tour the properties in person. In the current market, The St. Joe Company is really leading the way and setting the standard for others in the industry, by offering their land assets through this innovative process.”
The bid deadline is Thursday, May 1, 2008, so there is still plenty of time for interested buyers to conduct their due diligence, visit the properties and place their bids. Visit www.LFC.com/706R6 for important property and auction information.
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