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Buffett Licensing “Coral Reefer” for Medical Marijuana Venture

posted September 11th, 2018 at 7:52 am

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by Josh Martin

An article in Fortune details Jimmy Buffett’s latest venture: licensing the use of “Coral Reefer” to a medical marijuana company.

Jimmy Buffett has been playing with the Coral Reefer Band for well over four decades now, so it’s less than surprising to see the veteran singer-songwriter finally getting into the weed business.

The “Margaritaville” singer will license the “Coral Reefer” brand to Surterra, a big medical marijuana company whose board has since last month been chaired by William “Beau” Wrigley, Jr.—the former CEO of the Wrigley confectionery firm.

Georgia-based Surterra is currently licensed in Florida and Texas, and plans to build out cultivation space in the former state while conducting research trials on cannabinoid treatment for issues such as pain and post-traumatic stress disorder. The company has raised more than $100 million in the last few years, most recently in a $65 million round last month that was led by Wrigley’s Wychwood Asset Management.

Read more here.


Tagged in Business Empire, Coral Reefers



Third Margaritaville Retirement Community Coming

posted May 26th, 2018 at 11:41 am

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by Josh Martin

A third Latitude Margaritaville active adult community is being planned, this one in the Florida panhandle. The first two announced locations are Daytona Beach and Hilton Head.

From 55places:

Now, they’ve announced the location of the third Latitude Margaritaville, which will be built in Bay County near Panama City Beach in Florida’s Panhandle.

Latitude Margaritaville Watersound will be located in the St. Joe’s Bay-Walton Sector Plan close to the 30A corridor. Minto and Margaritaville Holdings are partnering with The St. Joe Company, which owns roughly 15 miles of frontage property on the Intracoastal Waterway that connects West Bay and Choctawhatchee Bay.

“Minto is proud to work with St. Joe and Margaritaville to bring Latitude Margaritaville Watersound to this beautiful part of Florida,” said Minto’s Latitude Margaritaville Division President William Bullock. “Our audience has been asking for a Gulf of Mexico location, and this is a perfect complement to our other coastal destinations in Daytona Beach and Hilton Head.”

The community is expected to open in early 2020.

Read the full article at 55places.


Tagged in Business Empire



Margaritaville Resort Hotel Coming to New York City

posted April 24th, 2018 at 7:14 pm

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by Josh Martin

We reported back in November that a Margaritaville Hotel may be coming to Manhattan and today the plans were officially announced:

Margaritaville Holdings, the global lifestyle brand synonymous with fun and escapism, today announced it’s building a new Margaritaville Resort in New York City. Located in Times Square at 560 Seventh Avenue, blocks away from the bright lights of the entertainment district and New York’s most popular attractions, the 234-room, 29-story property is expected to open in late 2020. Once complete, the $300 million project will boast several Margaritaville food and beverage concepts, a rooftop LandShark Bar & Grill and pool, retail space and more.

“From the beaches of Florida to the Great Smoky Mountains to the corner of Seventh Avenue and 40th Street, Margaritaville brings fun, relaxation and a much-needed escape from the every day to any set of coordinates,” said John Cohlan, chief executive officer of Margaritaville. “The Margaritaville Resort Hotel and the lifestyle experience it offers will be the perfect complement to the exciting, fast-paced energy of Times Square and we can’t wait to bring this destination to the travelers and residents of New York City.”

The Margaritaville Resort in New York City will bring an authentic “no worries” vibe to the city that never sleeps with Margaritaville’s signature ‘casual-luxe’ design elements, a rooftop pool, St. Somewhere Spa and lounge areas overlooking the city’s famous skyline.

In partnership with International Meal Company (IMC), food and beverage venues include a Margaritaville Restaurant, LandShark Bar & Grill, 5 o’Clock Somewhere Bar, Floridays Airstream Café, and an all-new concept, Chill Bar. Retail space is planned for the lobby, allowing guests a way to extend their visit to paradise and bring the island life home.

The resort will be developed by Sharif El-Gamal’s Soho Properties, in partnership with Chip and Andrew Weiss and MHP Real Estate Services.

“Margaritaville at 560 Seventh Avenue is a perfect addition to the pulsing energy of the Times Square submarket, which continues to thrive as one of the city’s most visited neighborhoods,” said Sharif El-Gamal, chairman and chief executive officer of Soho Properties. “We are thrilled to collaborate with one of the world’s most beloved brands and bring New York’s first Margaritaville to Times Square, where it will undoubtedly be a top destination for visitors and NYC residents alike.

Additional details regarding the resort’s amenities will follow in the coming months.



Tagged in Business Empire, Margaritaville Hotel



Margaritaville Hotel May be Coming to New York City

posted November 28th, 2017 at 9:41 pm

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by Josh Martin

You may be able to waste away in a Margaritaville Hotel in downtown New York City soon, according to therealdeal.com:

Sharif El-Gamal’s Soho Properties, in partnership with MHP Real Estate Services and Flintlock Construction Services, is in late-stage negotiations to revive their plans for a distressed Times Square site once slated for a Dream Hotel. Now, the developers are working out a deal to build a Margaritaville hotel and restaurant, the first of its kind in New York City, The Real Deal has learned.

The Related Companies is expected to provide a $180 million construction loan for the project at 560 Seventh Avenue by year’s end, according to sources familiar with the negotiations. Related, which launched a $2 billion fund for commercial real estate debt last year through its subsidiary Related Fund Management, would not serve as an equity partner.

Though the exact size of the Margaritaville hotel was not immediately clear, sources said it would be similar to the Dream Hotel the developers once envisioned: 29 stories, 243 hotel rooms and nearly 120,000 square feet.

Representatives for Related, Soho Properties and MHP declined to comment, and a Margaritaville spokesperson could not be reached.



Tagged in Business Empire, Margaritaville Hotel



Buffett Heading to Advertising Week

posted September 25th, 2017 at 7:53 pm

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by Josh Martin

According to the New York Post, Jimmy Buffett will stop by Advertising Week in New York City next week:

The biggest trade show in the city, Advertising Week New York, is slated to kick off Monday, pulling over 100,000 people to five days of seminars, panel discussions and pop-star entertainment.

Among the entrepreneurs and pop culture figures who will be turning up on various panels throughout the week: Jessica Alba, Sarah Jessica Parker, Jimmy Buffett, Venus Williams, Harvey Weinstein and, Elizabeth Banks, with a VIP closing dinner by Mario Batali at La Sirena.



Tagged in Business Empire



Forbes Details Buffett’s Business Empire

posted August 14th, 2017 at 8:01 am

2 Comments »
by Josh Martin

Forbes has an article on Jimmy Buffett’s business empire: How Jimmy Buffett Turned Hit Song ‘Margaritaville’ Into A Multibillion-Dollar Empire

Jimmy Buffett’s classic hit “Margaritaville” is celebrating its 40th anniversary this year. The song debuted on the 1977 “Changes in Latitudes, Changes in Attitudes” album and quickly took on a life of its own, becoming a state of mind and way of life rooted in fun and escapism for those “growing older, but not up”.

The song about life in this euphoric place where days are wasted away nibblin’ on sponge cake and watchin’ the sun bake has also morphed into a global lifestyle brand that currently has more than $4.8 billion in the development pipeline and sees $1.5 billion in annual system-wide sales. This year, Margaritaville Holdings announced a partnership with Minto Communities to develop Latitude Margaritaville, new active adult communities for those “55 and better”, including the $1 billion Daytona Beach, Florida location and a second in Hilton Head, South Carolina.

Read more at Forbes.


Tagged in Business Empire



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