PANAMA CITY BEACH, Fla.–(BUSINESS WIRE)–The St. Joe Company (NYSE: JOE) (“St. Joe”) and Electric Cart Company, LLC announce a joint venture to bring golf cart and low speed vehicle (“LSV”) sales to two of St. Joe’s lifestyle shopping centers. Plans call for a sales and service location at Watersound® West Bay Center adjacent to the Latitude Margaritaville Watersound community in Panama City Beach, Florida and a sales showroom at Watersound® Town Center in Santa Rosa Beach, Florida.
An approximately 11,000-square-foot full-service dealership is planned for Watersound West Bay Center offering sales and service of golf carts and LSVs. This lifestyle shopping center is being constructed adjacent to the Latitude Margaritaville Watersound community. This active-adult community, which welcomed its first residents in late 2021, is planned for 3,500 homes with multimodal connectivity to Watersound West Bay Center. At Watersound Town Center, located at the entrance to the master planned Watersound Origins community, plans include a sales showroom. Both locations plan to offer a wide variety of golf carts and LSVs from manufacturers such as Club Car, Evolutions, Garia, GEM, Pilotcar EV, Moke of America, Star EV, Tomberlin and Yamaha, among others.
“Entering the golf cart and LSV business at our lifestyle shopping centers with an experienced partner like Electric Cart Company, LLC is consistent with our strategy of expanding our recurring revenue streams…
