13150 Breton Ridge is located just east of State Highway 249 and near major retail centers including the Willowbrook Mall. With more than 103,000 people within a 3-mile radius and nearly 150,000 cars passing by each day, the property benefits from a strong consumer base and high visibility.

JLL's Randy Hopper and Gunnar Holman led the transaction for the seller. Phillip Dunning and Robert Hantgan of Colliers International represented the buyer in the transaction.

“We continue to see experience-based concepts backfill space left behind by more traditional, soft goods retailers,” said Hopper. “Set in a high-traffic suburban retail hub and densely populated residential area, this offering presented a great opportunity for the end-user.”

Another experiential retail concept that is catching fire are craft breweries, according to research from CBRE. The number of craft breweries in Texas grew 990% in the past 12 years, up from 20 in 2005 to 218 in 2017.

The driving force behind the craft beer revolution in Texas is microbreweries, which grew by nearly 5,000%, up from three in 2005 to 152 in 2017. Brewpubs make up a second segment—with 55 today, this group of restaurant/breweries increased 450%.

“Local is the new global—from its cottage roots before the 2008 recession, to its emergence as a niche beer category during the economic recovery, the Texas craft brew industry represents the spirit of this perspective,” said Robert Kramp, director of research and analysis, CBRE.

The rapid growth of craft brewing in the state, both in number of breweries and volume of production, is equally reflected in the amount of commercial real estate space needed to run operations. Since 2005, the amount of industrial and retail space occupied by craft brewers has grown 265% to 4.8 million square feet across the state.

With more than 187,000 barrels brewed last year (the equivalent of 26.3 million bottles), Central Texas was the prominent production hub of Texas craft beer. The DFW and Houston metro areas act as secondary hubs that have buoyed Texas to the third highest economic output for US craft breweries, GlobeSt.com learns.

“Not all craft breweries started in the garage. For example, the Shiner, Texas-based Spoetzl Brewery, founded in 1909, dominates Texas beer production. Approximately 70% of the 1.1 million barrels of beer produced in Texas in 2016 came from Spoetzle operations,” says Kramp.

Prominent craft brewing acquisitions, such as MillerCoors' purchase of DFW-based Revolver Brewing and Anheuser-Busch's purchase of Houston-based Karbach Brewery in 2016, along with legislative regulations and consumer demand will each play key roles in the future of craft brewing in Texas.