The St. Joe Co. and Johnson & Johnson Inc., doing business as Busy Bee, have formed a joint venture to construct, own and manage a Busy Bee branded fuel station and convenience store in Panama City Beach, Florida.
The project is currently under construction at the corner of Nautilus Street and Panama City Beach Parkway on approximately 2.6 acres of land.
“We are thrilled to finalize this agreement with St. Joe and to see construction underway,” said Elizabeth Waring, principal and CEO of Johnson & Johnson. “This new Busy Bee will be ideally situated in close proximity to the Pier Park area and the new Panama City Beach Sports Complex, making it a convenient location for Panama City Beach residents and visitors.”
Busy Bee stores are known for their unique selection of gourmet foods and merchandise, as well as their clean and well-outfitted facilities and restrooms.
Plans call for the Nautilus Busy Bee to include an approximately 15,500-s.f. convenience store, an anticipated 32 fueling stations and a quick service restaurant. Johnson & Johnson, which owns and operates Busy Bee stores in Florida and Georgia, will be part owner of the Nautilus Busy Bee and manage day-to-day operations for the joint venture.
It is anticipated that, when complete, the Nautilus Busy Bee will be the largest convenience store in the region and is intended to be the first of multiple Northwest Florida locations owned by the joint venture.
“This joint venture aligns with our strategy to partner with best-in-class operators to continue to grow and diversify recurring operating income,” said St. Joe President and CEO Jorge Gonzalez. “Busy Bee has a proven track record of successful operations and strong brand loyalty. We are very pleased to have partnered with Johnson & Johnson and we look forward to introducing Busy Bee to Panama City Beach.”
Construction of the Nautilus Busy Bee is expected to be completed in early 2020.
