The seller was St. Joe Co. of Jacksonville, FL, the largestlandowner in Florida. St. Joe owns 14 acres adjacent to the plannedtower. The Pope & Land building is scheduled to be completed inJanuary 2003.
That structure will be the first of three planned office towersat One Glenlake in the central perimeter submarket. St. Joe plansto build a hotel on the site at an undetermined date to complementthe three towers but hasn't disclosed details.
Regions Bank of Alabama is funding the venture. Pope &Land's equity partner is Dallas-based Granite Properties.
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