It's 5 o'clock somewhere, and soon it'll be in Cleveland.

Jimmy Buffet's Margaritaville is coming to Cleveland, set to open on the East Bank of The Flats in late 2016.

The restaurant will be across from Punch bowl Social on Front Avenue. It will have several bars, a stage and a store.

"We heard some rumblings about it a few weeks back and then we got the official word today," said general manager of The Big Bang Cleveland Craig Emhardt.

Jimmy Buffett's Margaritaville is the second tenant named in the last few weeks after Flats East Bank revealed plans for Rascal Flatts' restaurant set to open this summer.

"We've had a lot of opportunities to lease this building, but there's a difference between being leased well and being well leased," said chairman of nonprofit Flats Forward Adam Fishman. "We want to be exact right merchant."

"It's the place to be," said Matt Lowe who comes to The Flats weekly. "It's happening."

The opening of the restaurant will mark 18 entertainment and restaurant options in The Flats.

"We don't view it as competition at all," said Emhardt. "We view it as family and more of a mall concept that the more foot traffic that is down here, the more establishments that are being built, that'll improve everyone's time down here."

This may be the first announcement that wont happen in time for the RNC.

"There's so much excitement happening in Cleveland for the RNC, but there are a bunch of exciting things that will happen after the RNC leaves," said Fishman. "The RNC is for the people of Cleveland and for the country to see how great our community is, but Clevelanders will still be here after the RNC leaves and we have phenomenal offerings that will open just after the RNC including Rascal Flatts, including Jimmy Buffet's Margaritaville and exciting announcements still to come."

Follow WKYC's Wale Aliyu on Twitter @WaleAliyu and on Facebook at facebook.com/WaleAliyuTV