Craft Brewing Effects On Retail and Industrial Real Estate
Texas craft breweries expanded by 990% in the past twelve years, according to research by CBRE. Anyone who's been paying attention is most likely not blown away by the stat, however; Is this sustainable for the industry? Time will tell. What I do know, is the industry has had a major impact on commercial retail and industrial absorption in Texas, and more specifically, here in Austin. Zilker Beer (pictured above) and Austin Beerworks (pictured below) are establishing themselves as everyday neighborhood pubs with the ability to produce significant amounts of delicious amber nectar.
Austin Beerworks expanded earlier this year, more than doubling their capacity and giving their customers some great space to enjoy indoors or out. They weren't the only ones and so far, Austin has shown significant demand for the local breweries and brew pubs.
Types of Space & The Fun Factor
We want to meet and play as adults too, right? So, we need great meeting spaces and it certainly appears our local craft brewers are meeting those needs. From my experience, most owner's and brewer's are seeking existing spaces that have character. Austin remains a relatively new town, and this presents a challenge since we don't have lots of old buildings, industrial pockets, say, near rail lines. So, the team's behind these beers are getting creative and often times do settle for newer product. At that point, it's all about selecting materials that look and feel old. It's been really interesting to experience this process with a few of my client's.
Recently Opened:
Celis Brewery is very new and has an incredible story! They've built a tasting room like none other with a really neat copper distiller as the bar overhead. Pay them a visit.
Friends & Allies is in the heart of East Austin and next door to a rock climbing gym... Yes, please.
Hi Sign Brewing is tasty and located right near the airport. So, go watch some planes and drink their delicious blonde ale.
