Runaway Bay Caribbean Grill, Seafood, Steaks and More in Panama City Beach, Florida. Be sure to check out their awesome location on Grand Lagoon, just a mile from the Gulf of Mexico and conveniently located on south, Thomas Drive next to the bridge. Come by boat, car or walk in. Enjoy the outdoor pool, tiki bar, indoor bars and the beautiful location. And don't forget your favorite drinks and their caribbean fare on a diverse menu, including fresh oysters. Check out the video to see this special place at Panama City Beach!