The St. Joe Company Breaks Ground on a Watersound® Real Estate Sales Center at Watersound West Bay Center, the Real Estate Brokerage's Third Location
MWN-AI** Summary
The St. Joe Company (NYSE: JOE) has officially commenced construction on its third Watersound Real Estate sales center, located at the Watersound West Bay Center—a burgeoning lifestyle hub at the entrance to the Latitude Margaritaville® Watersound community. This new center complements existing locations in WaterColor® Town Center and Watersound Town Center, making Watersound Real Estate the only brokerage present in all three lifestyle centers, strategically situated in high-demand areas.
Slated to open in May 2025, the sales center will enhance Watersound Real Estate’s reputation as a specialist in home sales along Northwest Florida’s Gulf Coast. In a short time, the company has successfully assembled a team of over 50 experienced agents, collectively generating over $230 million in sales volume. Senior Vice President Diane Hausler expressed pride in the rapid growth and highlighted that the new location will expand their reach within Bay County, catering to the increasing interest in the Watersound lifestyle—particularly along the thriving State Road 79 corridor.
The Watersound West Bay Center will house Watersound Title Agency and Watersound Insurance Agency alongside the real estate office, fostering a streamlined homebuying experience by centralizing essential services. This integrated approach mirrors the model established in the Watersound Town Center sales center, aimed at simplifying processes for customers from contract to closing.
The expansion aligns with St. Joe’s strategy of fostering “asset-light” businesses, cultivating recurring revenue streams through investments in its residential communities. For further details regarding Watersound Real Estate, interested parties can visit their website. The company promotes itself as a diversified real estate developer in Northwest Florida, focusing on maximizing its real estate assets for residential and commercial developments.
MWN-AI** Analysis
The St. Joe Company (NYSE: JOE) has made a strategic move by breaking ground on its third Watersound Real Estate sales center at the Watersound West Bay Center. This development enhances its already robust presence in the real estate market of Northwest Florida, particularly in the desirable Gulf Coast region, which has shown significant demand.
From a market perspective, the creation of this additional sales center positions St. Joe as a leader in a fast-growing real estate arena. With the Bay County area experiencing an influx of residents and real estate activity, this expansion will likely allow Watersound Real Estate to capture a greater market share, especially as the region sees continued growth along the State Road 79 corridor.
St. Joe's integrated approach, with co-located title and insurance services, offers seamless solutions for homebuyers, simplifying the purchasing process. This level of convenience is likely to appeal not only to prospective buyers but also to real estate investors looking for investment opportunities in a flourishing market.
Investors should also note Watersound Real Estate's already impressive sales performance, generating over $230 million in less than a year with a team of over 50 agents. The firm's asset-light business model aligns well with current real estate trends, focusing on recurring revenue streams from essential services like title and insurance.
As the company continues to leverage its existing assets for residential and commercial ventures, analysts may find JOE shares to be an attractive investment. However, potential risks such as market fluctuations and the dependency on the continued growth of the local economy should be monitored. Overall, St. Joe’s expansion strategy is well-timed, and its integrated service model could bolster its competitive advantage in the real estate sector this coming year.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
The St. Joe Company (NYSE: JOE) (“St. Joe”) has broken ground on a third sales center for Watersound Real Estate, its boutique real estate brokerage, to be located at Watersound West Bay Center—the developing lifestyle center at the entrance to Latitude Margaritaville ® Watersound community. With offices currently in WaterColor ® Town Center and Watersound Town Center, Watersound Real Estate will be the only real estate brokerage in these three lifestyle centers, each positioned in highly sought-after areas of the region.
Opened in May 2025, Watersound Real Estate specializes in home sales along Northwest Florida’s Gulf Coast with listings from as far east as St. George Island and as far west as Sandestin. In less than a year, Watersound Real Estate has assembled a team of more than 50 accomplished agents who are well established in their respective markets and have generated over $230 million in sales volume.
“We are incredibly proud of the momentum we have achieved in such a short period of time,” said Diane Hausler, Senior Vice President, Residential Sales for Watersound Real Estate. “Expanding our presence to Watersound West Bay Center is a natural next step for us. This additional location will allow us to broaden our reach within Bay County and provide even greater access and convenience for those seeking the Watersound lifestyle, particularly along the fast-growing State Road 79 corridor.”
Upon completion of the sales center at Watersound West Bay Center, Watersound Real Estate will be co-located with Watersound Title Agency and Watersound Insurance Agency with the goal of creating a cohesive and streamlined process for homebuyers. This integrated model currently exists at the sales center in Watersound Town Center, located at the entrance to the Watersound Origins ® community.
“The co-location of our title and insurance agencies alongside Watersound Real Estate at Watersound West Bay Center represents a meaningful step forward in delivering a seamless homebuying experience in Bay County,” said Hausler. “By bringing these essential services together under one roof, we seek to simplify the process for our customers and create a more efficient, transparent path from contract to closing.”
In addition to providing much-needed services to a growing market, the expansion of Watersound Real Estate is consistent with St. Joe’s strategy of growing “asset-light” businesses like Watersound Insurance and Watersound Title agencies. These businesses are structured to generate recurring revenue streams from the capital investments St. Joe is making in its residential communities.
For more information about Watersound Real Estate, visit watersoundrealestate.com or click here to view all Watersound services.
Important Notice Regarding Forward-Looking Statements
This press release contains “forward-looking statements,” within the meaning of Section 21E of the Exchange Act, including statements regarding the construction and opening of offices for Watersound Real Estate, Watersound Title Agency and Watersound Insurance Agency in the Watersound West Bay Center. These forward-looking statements are qualified in their entirety by cautionary statements and risk factors set forth in St. Joe’s filings with the SEC, including its Annual Report on Form 10-K for the year ended December 31, 2024, its Quarterly Reports on Form 10-Q and subsequent current reports on Form 8-K, as well as the following: 1) the ability of the Company to complete the office building and 2) the interest of consumers in the three businesses to be located within the building.
About the St. Joe Company
The St. Joe Company (“Company”) is a diversified real estate development, asset management and operating company with real estate assets and operations in Northwest Florida. The Company intends to use existing assets for residential, hospitality and commercial ventures and has significant residential and commercial land-use entitlements. The Company actively seeks higher and better uses for its real estate assets through a range of development activities. More information about the Company can be found on its website at www.joe.com .
©2026 The St Joe Company. “St. Joe ® ,” “JOE ® ,” the “Taking Flight” Design ® ,” “St. Joe (and Taking Flight Design) ® ,” “WaterColor ® ,” “Watersound ®” and “Watersound Origins ® ” are registered service marks of The St. Joe Company. Latitude Margaritaville ® is a trademark of Margaritaville Enterprises, LLC and used under license.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260219032002/en/
Media Contacts
The St. Joe Company, Investor Relations
Marek Bakun
866-417-7132
Marek.Bakun@joe.com
The St. Joe Company, Media Relations
Mary Beth Lovingood
850-231-6583
marybeth.lovingood@joe.com
FAQ**
How does the St. Joe Company (The JOE) plan to leverage the new Watersound West Bay Center sales office to enhance its market presence in Northwest Florida?
2. What strategies is the St. Joe Company (The JOE) implementing to attract more consumers to the co-located Watersound Title Agency and Watersound Insurance Agency within the new sales center?
3. In what ways does the expansion of Watersound Real Estate align with the St. Joe Company (The JOE)'s vision for developing "asset-light" businesses and generating recurring revenue streams?
4. What risks does the St. Joe Company (The JOE) anticipate in the construction and operational success of the new office, as highlighted in their forward-looking statements?
**MWN-AI FAQ is based on asking OpenAI questions about St. Joe Company (The) (NYSE: JOE).
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