CLEVELAND, Ohio -- No more wasting away. Jimmy Buffett's Margaritaville is coming to the Cleveland Flats.

The bar and restaurant chain will move into the 20,000-square-foot building on the corner of Front Avenue and West 11th Street, in the Flats East Bank. The space was originally supposed to house Toby Keith's I Love This Bar and Grill.

Named after Buffett's iconic ode to booze-induced escape, Margaritaville will feature a full-service restaurant, multiple bars, a retail store and a performance stage for live entertainment. It will boast an island theme and a casual menu that pairs entrees such as beach tacos, jambalaya, fried chicken and steaks with tropical elixirs and, of course, a wide range of margaritas. And, yes, it will also serve the "Cheeseburger in Paradise" - Margaritaville's signature burger named after Buffett's 1978 hit.

Margaritaville is expected to open in late 2016.

The chain, which was founded in Key West, Fla. in 1987, has developed a cult following among "Parrot Heads." The term refers to the colorful apparel of Buffett's fans -- Hawaiian shirts, grass skirts, coconut bras and straw hats adorned with plumes.

There are more than a dozen Margaritavilles across the country, including in Cincinnati and Chicago's Navy Pier. Most are located in entertainment zones that attract locals and tourists alike, including Parrot Heads that follow Buffett around on tour.

"A nationally known brand like Margaritaville will really help drive tourism to our area," said Scott Wolstein, developer and partner of The Wolstein Group. "Adding such a recognizable establishment provides yet another exciting and diverse option for everyone that makes Flats East Bank their entertainment destination."

Margaritaville Cleveland's parent, International Meal Company U.S., also points to increased tourist traffic - and the chain's role to that end.

"We look forward to bringing escapism to the city and becoming active members of the Cleveland community," said David Crabtree, President/CEO of International Meal Company U.S.

Toby Keith's, an early entrant into the Flats project, was initially seen as a nightlife anchor for the $750 million development, which includes bars and restaurants such as Alley Cat Oyster Bar, The Big Bang, Beerhead, FWD, Punch Bowl Social and the Crop entertainment complex.

The hulking building ended up collecting dust amid the financial collapse of Boomtown Entertainment - the Phoenix-based corporate parent of I Love This Bar and Grill.

It continued to sit empty even as other operators opened their doors last summer. Getting a tenant for such a sprawling space required a large-scale operator -- most likely a national chain with a mass following and deep pockets.

"The reality is national chains can go into a market such as the Flats and invest real money and wait it out, especially when you have such a large space," says Crop owner Steve Schimoler. "Independent operators don't have that luxury."

Conventional wisdom often sees an adversarial relationship between independents and chains. However, Schimoler sees the benefits - especially in an area still trying to create awareness and an identity.

He points to the Margaritaville and the Rascal Flatts bar and restaurant, which is scheduled to open this year between Crop On Air and Beerhead.

"A place like Margaritaville or Rascal Flatts will bring a whole new crowd and degree of exposure to the area," he adds. "And you don't want an empty building just sitting there, because there needs to be a cumulative marketing approach to make a new area like this work."