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Press Release

Consolidated-Tomoka Announces Opening of Two Single-Tenant Net Lease Restaurants on the 6.0 Acre Beach Parcel

Company Release - 1/26/2018 9:10 AM ET

DAYTONA BEACH, Fla.--(BUSINESS WIRE)-- Consolidated-Tomoka Land Co. (NYSE American: CTO) (the “Company”) today announced the opening of two free-standing restaurants on the six-acre beach front parcel owned by the Company leased to the operators of LandShark Bar & Grill and separately Cocina 214. The two single-tenant properties front the “World’s Most Famous Beach” and share a common green space and parking area. Rent from both tenants will commence during the first quarter of 2018.

LandShark Bar & Grill (“LandShark”) is a full-service restaurant and bar operator affiliated with Margaritaville Enterprises, Inc. with locations in Biloxi, Mississippi, Myrtle Beach, South Carolina, Hollywood Beach, Florida and Atlantic City, New Jersey and a LandShark Landing in Pensacola Beach, Florida. Margaritaville is a global brand inspired by the lyrics and lifestyle of singer, songwriter and author, Jimmy Buffett, whose songs evoke a passion for tropical escape and relaxation.

The Cocina 214 Mexican Restaurant & Bar (“Cocina 214”) is an Orlando, Florida based restaurant operator with a location in Winter Park, Florida, and a five-time winner of Orlando Magazine’s Dining Awards for Best Mexican/Tex-Mex and the recipient of more than 30 other culinary awards such as the Orlando Sentinel’s “Foodie Award.” For more information, go to www.cocina214.com.

About Consolidated-Tomoka Land Co.

Consolidated-Tomoka Land Co. is a Florida-based publicly traded real estate company, which owns a portfolio of income investments in diversified markets in the United States including over 2.1 million square feet of income properties, as well as nearly 8,100 acres of land in the Daytona Beach area. Visit our website at www.ctlc.com.

We encourage you to review our most recent investor presentations which are available on our website at www.ctlc.com.

SAFE HARBOR

Certain statements contained in this press release (other than statements of historical fact) are forward-looking statements. Words such as “believe,” “estimate,” “expect,” “intend,” “anticipate,” “will,” “could,” “may,” “should,” “plan,” “potential,” “predict,” “forecast,” “project,” and similar expressions and variations thereof are intended to identify certain of such forward-looking statements, which speak only as of the dates on which they were made, although not all forward-looking statements contain such words. Although forward-looking statements are made based upon management’s expectations and beliefs concerning future developments and their potential effect upon the Company, a number of factors could cause the Company’s actual results to differ materially from those set forth in the forward-looking statements. Such factors may include the completion of 1031 exchange transactions, the availability of investment properties that meet the Company’s investment goals and criteria, the modification of terms of certain land sales agreements, uncertainties associated with obtaining required governmental permits and satisfying other closing conditions for planned acquisitions and sales, as well as the uncertainties and risk factors discussed in our Annual Report on Form 10-K for the fiscal year ended December 31, 2016 as filed with the Securities and Exchange Commission. There can be no assurance that future developments will be in accordance with management’s expectations or that the effect of future developments on the Company will be those anticipated by management. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release.

Consolidated-Tomoka Land Co.
Mark E. Patten, 386-944-5643
Sr. Vice President & Chief Financial Officer
mpatten@ctlc.com
Facsimile: 386-274-1223

Source: Consolidated-Tomoka Land Co.