NASHVILLE, Tenn. — Raising Cane's founder and CEO Todd Graves made a record-breaking purchase of a building housing a Margaritaville in downtown Nashville, the Nashville Business Journal reports.

The $75 million purchase of the three-story building in downtown Nashville's Broadway Street broke records for the area. It cost a per-square-foot price of $2,870.

A Cane's spokesperson said that Graves intends to keep the Margaritaville, opened by late musician Jimmy Buffett, open. Graves sees the purchase as a "long-term generational investment." 

Nashville outlets also reported Graves' July 2024 purchase of a penthouse atop the city's Four Season's Hotel. 

According to Forbes, Graves, with a net worth of $9.1 billion, is the 270th richest person in the world and one of the richest people in Louisiana.