{"id":413518,"date":"2021-01-12T16:10:02","date_gmt":"2021-01-12T21:10:02","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=413518"},"modified":"2021-01-12T16:10:02","modified_gmt":"2021-01-12T21:10:02","slug":"the-st-joe-company-announces-the-sale-of-5-8-acres-of-land-in-the-cedar-grove-commerce-park-in-panama-city-florida-for-a-new-coca-cola-sales-and-distribution-facility","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/the-st-joe-company-announces-the-sale-of-5-8-acres-of-land-in-the-cedar-grove-commerce-park-in-panama-city-florida-for-a-new-coca-cola-sales-and-distribution-facility\/","title":{"rendered":"The St. Joe Company Announces the Sale of 5.8 Acres of Land in the Cedar Grove Commerce Park in Panama City, Florida for a New Coca-Cola Sales and Distribution Facility"},"content":{"rendered":"

<\/p>\n

The St. Joe Company Announces the Sale of 5.8 Acres of Land in the Cedar Grove Commerce Park in Panama City, Florida for a New Coca-Cola Sales and Distribution Facility<\/b><\/p>\n

PANAMA CITY BEACH, Fla.–(BUSINESS WIRE<\/a>)–
\nThe St. Joe Company (NYSE: JOE) (\u201cSt. Joe\u201d) announces the sale of 5.8 acres of land at the Company\u2019s Cedar Grove Commerce Park in Panama City, Florida for a new Coca-Cola sales and distribution facility. Coca-Cola Bottling Company UNITED, Inc. (\u201cCoca-Cola UNITED\u201d) intends to construct a facility to include a distribution center, warehouse, fleet maintenance center and administrative offices.\n<\/p>\n

This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20210112006013\/en\/<\/a><\/p>\n

\"A<\/p>\n

A new Coca-Cola sales and distribution facility is coming to Cedar Grove Commerce Park in Panama City, Florida. (Photo: Business Wire)<\/p>\n<\/div>\n

\nCoca-Cola UNITED, a Birmingham, Alabama-based company, is the second largest privately held Coca-Cola bottler in North America and the third largest bottler of Coca-Cola products in the United States with more than 60 locations throughout the Southeast. \u201cWhen Panama City became a part of the Coca-Cola UNITED family in 2017, we made a commitment to employ, serve, refresh and invest in the Emerald Coast area,\u201d said Bo Taylor, Vice President of Coca-Cola UNITED\u2019s Central Region. \u201cFollowing Hurricane Michael, which caused severe damage to our existing facility, we moved quickly to assess opportunities for making a positive, long-term impact for our associates, our consumers and this community.\u201d\n<\/p>\n

\nPlans call for the distribution center to be approximately 24,000 square feet and feature 18 loading docks with a workforce of approximately 80 employees.\n<\/p>\n

\n\u201cWe are very excited to welcome Coca-Cola UNITED to Cedar Grove Commerce Park,\u201d said Dan Velazquez, Senior Vice President of Commercial Real Estate for St. Joe. \u201cThis well-located commerce park has received significant interest over the past few years and we are thrilled to see such a prominent operator come into this location.\u201d\n<\/p>\n

\nIn 2020, St. Joe completed construction on two light industrial buildings in Cedar Grove Commerce Park offering nearly 20,000 square feet of rentable space. Currently, those buildings are 90% leased.\n<\/p>\n

\nCoca-Cola UNITED intends to begin construction on the sales and distribution facility later this year.\n<\/p>\n

\nInformation on land available for sale and space available for lease in Cedar Grove Commerce Park can be found by visiting www.joe.com<\/a> or by calling 850-231-6400.\n<\/p>\n

Important Notice Regarding Forward-Looking Statements<\/span><\/b><\/p>\n

\nThis press release may contain \u201cforward-looking statements,\u201d within the meaning of Section 21E of the Securities Exchange Act of 1934, including statements regarding the construction of a Coca-Cola distribution facility at Cedar Grove Commerce Park. These forward-looking statements are qualified in their entirety by cautionary statements and risk factors set forth in St. Joe\u2019s filings with the SEC, including its Annual Report on Form 10-K for the year ended December 31, 2019. Quarterly Reports on Form 10-Q for the quarters ended March 31, 2020, June 30, 2020 and September 30, 2020 and subsequent current report filings, as well as Coca-Cola UNITED\u2019s ability to complete construction of the proposed facility on the expected timeframe, or at all, as well as other factors related to Coca-Cola UNITED\u2019s business generally, which are outside the control of St. Joe.\n<\/p>\n

About The St. Joe Company<\/span><\/b><\/p>\n

\nThe St. Joe Company, together with its consolidated subsidiaries, is a real estate development, asset management and operation company. The Company owns land concentrated primarily in Northwest Florida and has significant residential and commercial land-use entitlements in hand or in process. More information about the Company can be found on its website at www.joe.com<\/a>. More information on the Company\u2019s current project pipeline can be found at www.joe.com\/project-updates<\/a>.\n<\/p>\n

About Coca-Cola Bottling Company UNITED, Inc.<\/span><\/b><\/p>\n

\nCoca-Cola Bottling Company UNITED, Inc., founded in 1902 and headquartered in Birmingham, Alabama, is the second largest privately held Coca-Cola bottler in North America and the third largest bottler of Coca-Cola products in the U.S. Coca-Cola UNITED has approximately 10,000 associates located in more than 60 facilities across six southeastern states (Alabama, Florida, Georgia, Louisiana, Mississippi and Tennessee). Historically significant franchises within our Coca-Cola UNITED family include Chattanooga, the world\u2019s first Coca-Cola bottler; Atlanta, home of the worldwide Coca-Cola System; and Columbus, Georgia, development site of the original Coca-Cola formula.\n<\/p>\n

\nCoca-Cola UNITED is engaged in the production, marketing and distribution of a diverse portfolio of leading sparkling (Coca-Cola\u00ae, Diet Coke\u00ae, Coke Zero Sugar\u00ae, Dr Pepper\u00ae, Sprite\u00ae and Fanta\u00ae) and still (smartwater\u00ae, Dasani\u00ae, POWERADE\u00ae, BODYARMOR\u00ae, Fairlife\u00ae, Gold Peak\u00ae, Monster\u00ae and Minute Maid\u00ae) non-alcoholic brands under exclusive franchise agreements principally with The Coca-Cola Company\u00ae and Keurig Dr Pepper\u00ae.\n<\/p>\n

\nFor 118 years, Coca-Cola UNITED has remained true to its foundational core values of: Quality, Excellence, Integrity and Respect. Local relationships, personalized customer service, and strong community engagement have been the foundation of our business for more than a century. Each year, millions of dollars are invested in our local communities, supporting education, community development, sustainability and nonprofit organizations that empower and impact those in need.\n<\/p>\n

\n\u00a9The St Joe Company 2021. \u201cSt. Joe\u00ae<\/sup>\u201d, \u201cJOE\u00ae<\/sup>\u201d, the \u201cTaking Flight\u201d Design\u00ae<\/sup>, \u201cSt. Joe (and Taking Flight Design) \u00ae<\/sup>\u201d, <\/i>are registered service marks of The St. Joe Company or its affiliates.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210112006013\/en\/<\/a><\/span><\/p>\n

\nSt. Joe Investor Relations Contact:
\n
Marek Bakun
\n
Chief Financial Officer
\n
1-866-417-7132
\n
marek.bakun@joe.com<\/a><\/p>\n

\nSt. Joe Media Relations Contact:
\n
Mike Kerrigan
\n
Corporate Director of Marketing
\n
1-850-231-6426
\n
mike.kerrigan@joe.com<\/a><\/p>\n

KEYWORDS:<\/b> Florida Alabama United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Retail Commercial Building & Real Estate Construction & Property Food\/Beverage<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n\n\n\n
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A new Coca-Cola sales and distribution facility is coming to Cedar Grove Commerce Park in Panama City, Florida. (Photo: Business Wire)<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

The St. Joe Company Announces the Sale of 5.8 Acres of Land in the Cedar Grove Commerce Park in Panama City, Florida for a New Coca-Cola Sales and Distribution Facility PANAMA CITY BEACH, Fla.–(BUSINESS WIRE)– The St. Joe Company (NYSE: JOE) (\u201cSt. Joe\u201d) announces the sale of 5.8 acres of land at the Company\u2019s Cedar Grove Commerce Park in Panama City, Florida for a new Coca-Cola sales and distribution facility. Coca-Cola Bottling Company UNITED, Inc. (\u201cCoca-Cola UNITED\u201d) intends to construct a facility to include a distribution center, warehouse, fleet maintenance center and administrative offices. This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20210112006013\/en\/ A new Coca-Cola sales and distribution facility is coming to Cedar Grove Commerce Park in … <\/p>\n

Continue reading “The St. Joe Company Announces the Sale of 5.8 Acres of Land in the Cedar Grove Commerce Park in Panama City, Florida for a New Coca-Cola Sales and Distribution Facility”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-413518","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nThe St. Joe Company Announces the Sale of 5.8 Acres of Land in the Cedar Grove Commerce Park in Panama City, Florida for a New Coca-Cola Sales and Distribution Facility - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/the-st-joe-company-announces-the-sale-of-5-8-acres-of-land-in-the-cedar-grove-commerce-park-in-panama-city-florida-for-a-new-coca-cola-sales-and-distribution-facility\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The St. Joe Company Announces the Sale of 5.8 Acres of Land in the Cedar Grove Commerce Park in Panama City, Florida for a New Coca-Cola Sales and Distribution Facility - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"The St. Joe Company Announces the Sale of 5.8 Acres of Land in the Cedar Grove Commerce Park in Panama City, Florida for a New Coca-Cola Sales and Distribution Facility PANAMA CITY BEACH, Fla.–(BUSINESS WIRE)– The St. Joe Company (NYSE: JOE) (\u201cSt. Joe\u201d) announces the sale of 5.8 acres of land at the Company\u2019s Cedar Grove Commerce Park in Panama City, Florida for a new Coca-Cola sales and distribution facility. 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Coca-Cola Bottling Company UNITED, Inc. (\u201cCoca-Cola UNITED\u201d) intends to construct a facility to include a distribution center, warehouse, fleet maintenance center and administrative offices. This press release features multimedia. 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