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Craft Beer Boom Causes High Demand for Industrial Space
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(Posted on Mar 26, 2016 at 01:00PM by Michelle Bogle)
There’s something big “brewing†in East Vancouver – a craft beer revolution is taking over the industrial parts of the area now known as “Yeast Vanâ€.
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This shift started to take root nearly three years ago when then province changed the liquor rules for craft breweries. Previously, beer lovers were only allowed to taste free samples and purchase one meager 12-ounce beer on the premises.Â
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However, the new rules changed these archaic ways – patrons are now allowed to purchase product and pints while visiting their favourite craft breweries. A much-welcomed change for the local economy and a change that has beer connoisseurs “hoppingâ€.
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Today, there are 23 craft breweries open, or about to open, in Vancouver – 14 of which opened their doors in the last three years since the legislation change. All are thriving and the industry as a whole is experiencing much growth as the demand for local, quality beer soars.
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As the demand rises, so does the need for available industrial space for prospective brewers looking to quench the thirst of local beer lovers. At minimum, these brewers are in need of industrial space around 5,000 sq. ft., but that number has been known to climb between 15,000 and 30,000 sq. ft.Â
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And, the competition is fierce in the emerging heart of East Vancouver’s brewing district – when space becomes available, it’s often sought after by a number of eager groups ready to invest in this growing market.Â
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The timing couldn’t be better for commercial real estate investors looking to get into East Vancouver’s industrial sector. To learn more about available opportunities, please contact our office to speak with one of our skilled advisors.
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