Area brokers in Orlando and Tampa tell GlobeSt.com on condition of anonymity the talks are preliminary and other firms have made similar inquiries since St. Joe announced its plans last week. St. Joe is the largest corporate property owner in Florida.
The company's prepared statement on March 29 says the commercial and development sectors of the company and the residential development division are not involved in plans to divest only the residential brokerage arm.
St. Joe would not comment on which national firms are interested in the asset or if St. Joe has made a firm decision to sell the business.
Equity Residential Properties Trust executives couldn't be reached either in Chicago, Orlando or Tampa at GlobeSt.com's publication deadline today.
Based on St. Joe's last publicly disclosed financials, Arivida Realty Services helped St. Joe's fourth quarter 2001 revenue total of $244.4 million by posting $66.9 million. St. Joe's common is trading on the New York Stock Exchange at $30 per share.
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