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Consolidated-Tomoka buys share in oceanfront parcel

DAYTONA BEACH — Consolidated-Tomoka Land. Co has bought a half interest in a vacant six-acre oceanfront parcel on South Atlantic Avenue here just south of International Speedway Boulevard.

The Daytona Beach-based real estate investment and development company paid about $5.7 million for the 50 percent ownership share, according to John Albright, Consolidated-Tomoka’s president and CEO.

“It’s an attractive beach site with terrific potential,” Albright said. “We’ll reposition the property and see what’s the highest and best use is and market it”

 

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