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COCOA BEACH, FL-Spotting a new revenue niche in licensing its brand, the 42-year-old surf shop retailer is partnering with Milwaukee-based Towne Group in developing Ron Jon Resort Cape Caribe, a $130-million, 525-unit timeshare resort near Port Canaveral, 1.5 miles from the beachfront store.

The 27-acre project is scheduled to open in January with one-week, unit prices from $8,000 to $25,000, according to Towne Group officials. Ron Jon will not be actively involved in the management or operations of the resort but will establish general standards for the enterprise.

Towne Group has three existing timeshare projects in the metro area. They are Ocean Landings, Discovery Beach and Resort of Cocoa Beach. The company also owns and operates Whitley Bay, a high-rise condominium community in Cocoa, FL.

Ron Jon and Towne Group officials hope to cross-market their products, banking on an estimated one million customers who pass through the local Ron Jon surf shop each year, area retail brokers following the undertaking tell GlobeSt.com.

Cape Caribe is expected to sell out in about 12 years, grossing about $500 million, according to Towne officials. Annual maintenance fees for individual owners are $500 annually.

Besides Cocoa Beach, Ron Jon has retail outlets in New Jersey where it began in 1961; Fort Lauderdale, FL; and California.

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