ATLANTA-St. Joe Co.’s decision to exit Atlanta and other major cities is putting a prime tract on the market at a prime price–$26 million for 18 acres, or $1.44 million per acre ($33.16 per sf). The land is at Glenake, just off Ga. 400 in North Fulton county, 15 miles from Downtown.

The Jacksonville, FL-based company had planned to develop a $200 million mixed-use project. But the firm bought out its development partner, Boss Properties, and has hired First Fidelity Investments Corp. to market the tract. St. Joe’s Advantis company will also help sell the dirt.

The 18 acres are being offered as a total package or in three separate parcels. Two of the parcels, slated as office sites, are going for $9.5 million each. The third parcel, a hotel site, is priced at $9 million. St. Joe purchased the property about two years ago for $18.9 million or $1.05 million per acre ($24.10 per sf). UPS headquarters is at Glenlake. Cingular Wireless and Coca-Cola’s Fountain group have also signed leases.

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