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Dec 22

The Orlando Business Journal reports that Buffett plans to relocate his Margaritaville Enterprises LLC headquarters to Orlando: "Parrothead empire to roost in Orlando"

Jimmy Buffett may croon about wasting away in Margaritaville, but the reality is quite different. Buffett’s Margaritaville Enterprises LLC — which earns an estimated $100 million annually through music, restaurants, casinos, beer, tequila and clothing — recently signed a 10-year lease for 62,502 square feet of industrial space at Crownpointe Commerce Park.

Tom McFadden of Southern Commercial Real Estate Advisors, who represented the landlord, says the Buffett-owned company plans to use the space as its corporate headquarters. The company will build 12,000 to 15,000 square feet of office space and use the remaining space to store merchandise for Buffett’s Parrotthead empire.

If you crunch the numbers: 62,500 sq ft that Margaritaville is renting it comes out like this at 6.85 sq/ft/yr. = $428,125 year, $35,677 month rent!!! x 10 years: $4,281,250 deal.

written by phjim


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