Telfair Capital, a Private Equity firm focused primarily on the hospitality industry, has recently purchased the waterfront property and businesses located at 1 Old Hwy 80 including Coco’s restaurant and the beloved Captain Mike’s Dolphin Adventure, and the wooden shrimp boat The Agnes Marie all very visible upon entering or leaving Tybee Island on Lazaretto Creek.  Telfair Capital, founded by Donald McGraw, currently owns and operates additional properties in Texas and New York.

Donald McGraw, who has been coming to Savannah/Tybee Island since he was in college, working as a bartender for The Crab Shack and Kevin Barry’s pub, states he has always wanted to own a business in our area.

“My wife and I were living on the Upper West Side of NYC when Covid-19 happened.  She is a teacher who works with children who have severe special needs and I was working in private equity.  Our private equity firm having been a lead investor in Allyance Media which produces such hit TV shows as Hot Ones the Game Show and Million Dollar Beach House.  Working with Hot Ones got us thinking about the hospitality space but after looking at several restaurant opportunities we remained on the sidelines until Covid 19 happened.  Once Covid hit, opportunities started to present themselves more readily. 

When asked about why he bought on Tybee, McGraw replied “It started by accident really.  Stephanie and I had moved down to Tybee to get away from our apartment in NYC and we looking for houses to buy on Tybee.  She come across the listing for the land located at 1 Old Highway 80 for sale.  It sort of snowballed from there.”

After long discussions with business partners we all came to the same conclusion, we feel strongly the recent growth in the area will continue to build the region and the regional economy.  We identified this area on Tybee as an excellent opportunity to create synergy between three independently operated businesses in Coco’s Grille, The Agnes Marie and Captain Mike's Dolphin Tours,” according to McGraw.  “By running them side by side we are able to create efficiencies that would not exist otherwise. When Captain JB, the previous owner of the Agnes Marie, let me know he was going to put the icon boat up for sale my heart sank.  The Agnes Marie has been under Lazaretto Bridge for as long as I can remember.  Our goal is to keep Tybee looking like Tybee with some improvements to be sure but the thought of losing the shrimp boat was unthinkable.  We worked out a purchase agreement with JB so that the Agnes Marie can enjoy another forty years in the exact same spot she’s spent the last forty.  Our feeling is that by catching our own shrimp to supply fresh shrimp to our customers we can offer the very unique experience of being able see the shrimp go from sea to table.  We also plan on running tours in the off season so that people interested in the workings of a shrimp boat can experience it first hand!  The other two businesses are very interrelated as well and by combining human resources, point of sale technologies, and scheduling we are able to maximize customer experience at both properties.”

When further asked how the community has responded to the change in ownership McGraw responded.  “We are very excited to be a part of the Tybee Island community where everyone has been very inclusive and welcoming.  We are very grateful to our neighbors on Tybee Island who really have made us feel a apart of such a beautiful and dynamic city.   

CoCo’s Tybee Island is nestled in the marsh behind Tybee Island on the shores of Lazaretto Creek, is one of the very few restaurants located at an operating marina offering amazing views of the sunset over the creek.  For more details about Coco’s Sunset Grille go tococostybee.com.

Captain Mike’s Dolphin Tours, a favorite Tybee Island tourist attraction, coordinates one hour boat tours from Lazaretto Creek to “Dolphin Bay” to watch the bottle-nosed dolphin playing in their natural habitat, as well as enjoying views of the North coast of Tybee Island, the Cockspur lighthouse, and views of Hilton Head and Daufuskie Island. For more information go to tybeedolphins.com.

The Agnes Marie is the last wooden shrimp boat in Georgia and is located at Lazaretto Creek on the dock it has called home for over 40 years.  You can visit the Agnes Marie when she is not out fishing by reservation at theagnesmarie.com

McGraw said Telfair Capital plans to make announcements about additional investments in our region later this year.

For more information or potential interview opportunities with Donald McGraw/Telfair Capital, please contact Jennifer Abshire/Abshire PR via email at [email protected].