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Shark Tank guest investor and Raising Cane's founder Todd Graves has acquired the Margaritaville building in downtown Nashville for $75 million, per reports from Nashville Business Journal. This has set a record price of $2,870 per square foot for Lower Broadway properties. The three-story, 26,300-square-foot building at 322 Broadway will maintain its current operations under the new ownership.
The January 2025 transaction follows Graves' $15 million Four Seasons penthouse purchase in July 2024. Graves stepped into Shark Tank as a guest investor for season 16 episodes 2 and 6, which aired on ABC. Across both episodes, Graves shared the panel with regular sharks Mark Cuban, Kevin O'Leary, Lori Greiner, and Daymond John.
Shark Tank guest investor Todd Graves buys Nashville building for 75 million dollars
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The Margaritaville building transaction achieved the highest per-square-foot price in Lower Broadway history at $2,870. The three-story Margaritaville structure spans 26,300 square feet at 322 Broadway. The property has operated as a key entertainment venue since 2010.
Under previous ownership, Corner Partnership developers Mark Bloom and Larry Papel managed the property's transformation into a major tourist attraction. The building houses the Jimmy Buffett-themed restaurant and bar concept. Current operations will continue under the new ownership.
The Shark Tank guest investor’s property sits in a prime location in Nashville's entertainment district. Building records show recent infrastructure updates and maintained commercial zoning status.
The Nashville Business Journal reported the deal surpassed previous area sales such as the Ernest Tubb Record Shop sold for $2,000 per square foot in 2022. The Dierks Bentley's Whiskey Row property brought $2,400 per square foot that same year.
Graves' other Nashville investments
The Margaritaville building purchase follows Graves' previous Nashville real estate acquisition in July 2024. Shark Tank guest investor’s purchase of a Four Seasons Hotel & Residences penthouse set a residential record at $15 million. The 4,000-square-foot luxury residence commanded $3,750 per square foot.
The high-end residential purchase marked his initial entry into Nashville's premium real estate market. The strategic timing of these investments aligns with Nashville's expanding commercial and residential sectors. Metro property records show both purchases were completed as direct acquisitions without external financing.
Todd Graves in Shark Tank
Todd Graves brought his restaurant expertise to Shark Tank season 16 through multiple guest appearances. His debut in episode 2, aired October 25, 2024, saw him partner with Danielle Mahon of Top Sail Steamer.
Graves and Lori Greiner jointly invested $350,000 for 18% equity in the seafood business, with each taking a 9% stake. Graves also backed RigStrips, offering $300,000 for 15% equity in their magnetic gear-securing system for winter sports equipment.
His return in episode 6, aired November 23, 2024, marked two more strategic investments. Graves offered $150,000 for 17.5% equity to Pepper Pong, aiming to boost their portable ping-pong business through his social media marketing expertise.
He also invested in Kaans Designs, a family clothing brand, providing $75,000 as a loan for 10% equity to help grow their social media presence and sales. Along with Todd Graves, the season's guest roster includes IT Cosmetics co-founder Jamie Kern Lima, venture capitalist Rashaun Williams, and lifestyle brand creator Kendra Scott.
Business background
Todd Graves brings substantial financial expertise to his real estate ventures. His company, Raising Cane's, currently manages over 800+ locations worldwide, per CNBC.
The company reached a key financial milestone in 2024 with its first billion-dollar quarter. Bloomberg data places Graves' current net worth at $9.5 billion, ranking him as Louisiana's most affluent resident. His business track record includes maintaining over 90% ownership of his company while pursuing controlled expansion strategies.
The company maintains locations across the United States and Middle East markets, with additional expansion plans under development.
Fans can watch new episodes of Shark Tank on the ABC network.
