Consolidated-Tomoka Land Co. (NYSE MKT: CTO) (the "Company") today announced that the Company is in negotiations with Cocina 214 and LandShark Bar & Grill for leases that will lead to the development of two free-standing restaurants on the six-acre beach-front parcel owned by the real estate venture in which the Company owns a 50% stake (the "Beach-Front Property"). 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. 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. The two restaurants will front the ocean and share a common green space and parking area, with a design that will capitalize on the unparalleled oceanfront location with visibility and access to "The World's Most Famous Beach." The development will bring a much needed oceanfront dining experience to the Daytona Beach area, offering residents and visitors alike with two restaurant brands that have regional and national followings. The Company has retained Miami, Florida based DPZ Partners LLC ("DPZ"), the acclaimed urban planning design and, architectural firm known for designing beautiful complete communities such as Seaside and Rosemany Beach on the Florida Panhandle. DPZ approached the site design as a step in the transformation of the Daytona Beach Tourist District into a more vibrant, pedestrian-friendly resort community. The design architect for LandShark is Vermont based McBride Associates, and the design architect for Cocina 214 is also DPZ.