Vacant island off the coast of Tampa known as 'Beer Can Island' goes on the ... trends now
A vacant island off the Tampa coast that earned the moniker of 'Beer Can Island' has landed on the market for $14.2 million, six years after investors bought it for just $65,000.
Pine Key, more commonly known by its nickname, officially closed to the public in February. Located on the northern tip of Longboat Key, the island is situated between MacDill Air Force Base and Apollo Beach.
It is the brainchild of four dedicated investors who poured roughly $5 million into renovations for the property after buying it in 2017.
While it was originally intended as a place to anchor their floating Tiki bar, the island has hosted weddings, parties and concerts with thousands in attendance.
'We’re grateful for the outpouring of support we have received from the community and our members over the years, but all good things must come to an end at some point, and for us, that time is now,' majority owner Cole Weaver said in a press release.
A Florida island deemed 'Beer Can Island' has hit the market for $14.2 million, six years after investors snapped it up for just $65,000
The island, formally known as Pine Key, officially closed to the public in February
Four investors - Russell Loomis, James Wester, Cole Weaver and John Gadd - poured an estimated $5 million into the property for renovations
Before Weaver and his partners scooped it up, the island was a popular party spot for locals. Its sands would be peppered with beer cans after the informal get-togethers - hence the nickname.
Six years ago, Russell Loomis was inspired by the story of Richart Sowa, a British artist who created an artificial island using thousands of plastic bottles.
The tech developer and Wisconsin native, who relocated to Tampa in the nineties, decided he wanted to do the same.
So he recruited his friend of two decades, James Wester. With experience in nightclub promotion and subcontracting, Wester, also known as 'DJ West,' seemed like the ideal business partner.
Next came Weaver, a friend of a friend. The trio constructed the bar from 258 plastic barrels atop a motorized platform.
They began to search for a parking spot for their for-profit project, which became a party venue for rent, and settled on Pine Key.
The partners reached out to Imperial Island, the company that owned the island, to inquire about renting part of
