Part 3 of 3
CHARLOTTE, NC—Piedmont Properties/CORFAC International managed the recent sale and lease of a 33,000-square-foot industrial building to NoDa Brewing Co. that will essentially triple the local craft brewery's footprint, its production capacity and public tap room. The maker of handcrafted, small-batch beers currently occupies approximately 11,000 square feet at 2229 N. Davidson St. in Charlotte and will move to its new location at 2921 N. Tryon St. when tenant improvements are completed later this year.
Jim Plyler with Piedmont Properties represented Ray Roofing in the sale of NoDa's future home on Tryon Street to Hop, Drop and Loco, LLC, for $1.35 million. Hop, Drop and Loco, LLC immediately leased the facility to NoDa Brewing Co. Frank A. McCleneghan, also with Piedmont Properties, represented NoDa in the lease. NoDa has its roots in Charlotte as the only brewery in town that started with the home-brewing scene.
NoDa's future facility has approximately 30 feet of clear height and was constructed in the 1920s as a vinegar manufacturing plant for Speas Vinegar. There are plans to designate the structure as a historic property.
McCleneghan tells GlobeSt.com that compared with the year 2000 when GlobeSt.com first started publishing commercial real estate news and information, the craft brewing industry has exploded and consumers are buying more locally made beer than ever.
Indeed, Bart Watson, Ph.D. and an economist with the Boulder, Colorado-based Brewers Association, the trade association representing small and independent American craft brewers, reports that the growth in craft brewing since 2000 “is like day and night.”
According to Watson, in 2014 craft beer captured 11 percent of the U.S. beer market, compared with 2.6 percent in 2000. In 2014, craft brewers made 21.8 million barrels of beer, versus 5.3 million in 2000. In 2014, there were 3,418 small and independent breweries in the U.S., compared with 1,509 in 2000. Watson said that in recent years, an average of 1.7 local/craft breweries opens in America DAILY! While sales figures are not available going back to 2000, in 2014 final retail/consumer sales reached $19.6 billion, which is up 22 percent on a growth-comparable basis from 2013.
And it is happening all over the country. In San Diego, for example, as GlobeSt.com previously reported, the craft industry has changed the local CRE.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
