What's a billionaire to do when they want a piece of Nashville? For Todd Graves, CEO of Raising Cane's, the answer was clear: pick up a downtown building with a slice of tropical paradise. Earlier this month, Graves paid a whopping $75 million for the three-story building on Broadway Street. This isn't just any building; it's home to a Margaritaville restaurant, the island-themed brainchild of late musician Jimmy Buffett. This purchase broke records in the area, costing around $2, 870 per square foot. A spokesperson for Cane's noted that Graves aims to keep the beloved Margaritaville open, viewing it as a smart, long-term investment.

Graves isn't new to Nashville's real estate scene. He previously snagged a penthouse at the city's Four Seasons Hotel, set to be ready for occupancy by July 2024. When you're worth $9. 1 billion and ranked 270th on the Forbes list of the world's richest people, it seems spending big on prime properties is just part of the game. But why the splurge on a building with a Margaritaville? It could be a savvy bet on Nashville's thriving tourism and entertainment scene, a perfect fit for a businessman who knows a thing or two about turning a casual dining spot into a global phenomenon.

Cane's CEO Graves Snaps Up Downtown Nashville Building with a Margaritaville

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