Key Developments: Consolidated-Tomoka Land Co (CTO)
36.63USD
24 May 2013
$-0.12 (-0.33%)
$36.75
$36.51
$36.82
$36.34
3,914
7,805
$40.28
$25.50
Latest Key Developments (Source: Significant Developments)
Consolidated-Tomoka Land Co Announces Settlement With St. Johns River Water Management District
Consolidated-Tomoka Land Co announced the settlement of the administrative litigation with St. Johns River Water Management District (the District), which dates from 2010. Pursuant to the settlement, the Company deeded approximately 665 acres of undeveloped land to the District. These acres are a portion of undeveloped land that the Company originally acquired in 2003 for the purpose of wetland mitigation. The Company previously recorded the cost of this settlement in 2012 and does not expect the settlement to further impact earnings. Full Article
Consolidated-Tomoka Land Co Acquires Two-Building 133,000 Square Foot Office Complex In Orlando, FL For Approximately $14.6 Million
Consolidated-Tomoka Land Co announced the acquisition of a two-building, 133,000 square-foot office complex leased to Hilton Resorts Corporation in Orlando, Florida. The property is located in the Metrowest submarket. Both buildings are under a long-term lease, with over eight years remaining on the term, which provides for annual lease payment escalations. The total purchase price was approximately $14.6 million. Full Article
Consolidated-Tomoka Land Co Acquires Big Lots Store In Glendale, Arizona For Approximately $5.0 Million
Consolidated-Tomoka Land Co announced that the acquisition of a 34,512 square-foot free-standing building situated on 3.62 acres leased to Big Lots in Glendale, Arizona. The property is an outparcel to the 1.2 million square foot Arrowhead Towne Center, which is owned and managed by Macerich.The total purchase price was approximately $5.0 million. Full Article
Consolidated-Tomoka Land Co Acquires Four Triple Net Properties For $8.0 Million In Los Angeles County And Orange County, CA
Consolidated-Tomoka Land Co announced that it has acquired four properties leased to Bank of America, N.A., in both Los Angeles County and Orange County, California for $8.0 million. The four properties are leased to Bank of America, N.A., with an initial term of 15 years. Including the five-property acquisition completed in December 2012, Consolidated-Tomoka Land Co. purchased a total of nine properties leased to Bank of America, N.A. for approximately $20.8 million. The properties are located in both Los Angeles County and Orange County, California. Full Article
Consolidated-Tomoka Land Co Acquires Five Triple Net Properties for $12.8 Million in Orange County, CA
Consolidated-Tomoka Land Co announced it has acquired five properties leased to Bank of America, N.A., in Orange County, California for $12.8 million. The five properties are leased to Bank of America, N.A., with an initial term of 15 years. Full Article
Consolidated-Tomoka Land Co Declares Semi-Annual Dividend
Consolidated-Tomoka Land Co announced that the Board of Directors declared a semi-annual dividend of $0.02 per share, payable on November 28, 2012, to shareholders of record as of November 9, 2012. Full Article
Consolidated-Tomoka Land Co Announces $1.8 Million Acquisition of Corporately Owned Buffalo Wild Wings Location in Phoenix, Arizona
Consolidated-Tomoka Land Co announced that on September 28, 2012 it acquired a 1.5-acre site in Phoenix, Arizona, under a long-term ground lease to a corporately owned Buffalo Wild Wings, for $1.8 million. The Company acquired this property, in part, through the investment of proceeds from the June 2012 sale of vacant land in Daytona Beach, Florida. This property is leased to Buffalo Wild Wings for an initial term of 15 years with rental rate escalations every 5 years. Full Article
Consolidated-Tomoka Land Co. Declares Dividend
Consolidated-Tomoka Land Co. announced that it declared a semi-annual dividend of $0.02 per share payable on May 25, 2012 to shareholders of record on May 10, 2012. Full Article
Consolidated-Tomoka Land Co. Announces New Chief Financial Officer
Consolidated-Tomoka Land Co. announced that Mark E. Patten has been named Senior Vice President and Chief Financial Officer of the Company, effective April 16, 2012. Full Article
Consolidated-Tomoka Land Co. Funds $7.4 Million Acquisition Of Walgreens Retail Store In Boulder, Colorado
Consolidated-Tomoka Land Co. announced that it funded a two-step transaction to acquire a 14,280 square-foot Walgreens store in Boulder, Colorado, in the amount of $7.4 million. The Company is acquiring this property in part through investment of proceeds from the December 2011 sale of the Barnes & Noble property in Lakeland, Florida. The completion of this transaction is anticipated to occur during second quarter 2012.This property is leased to Walgreen Co. for an initial term of over 20 years. Full Article
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