Todd Graves set a record in buying this Nashville building

Raising Cane’s founder and CEO Todd Graves has reportedly closed on the Margaritaville building on Broadway in Nashville for $75 million, the Nashville Business Journal reports.

At a sales price of $2,870 per square foot, the deal for the 26,300-square-foot, three-story building eclipses previous records for Lower Broadway properties.

The deal comes a little more than six months after the Baton Rouge-founded chicken restaurant chain opened a flagship location on Broadway over the summer, just two blocks from the Margaritaville property. Raising Cane’s operates five flagships, with other locations in Time Square, Las Vegas, Miami Beach and Chicago.

A week before the Raising Cane’s on Broadway was set to open for business, Bloomberg reported that Graves had entered a contract to buy the most expensive condo ever sold in Nashville.

Graves reportedly paid $15 million for a roughly 4,000-square-foot penthouse apartment in the Four Seasons Hotel and Private Residences, a 40-story riverfront development completed in 2022. That condo is roughly three blocks from the flagship restaurant and Margaritaville property on Broadway.