Why Brewery Closures Are Leading to Big Opportunities | First Key Consulting

Cellarmaker's Berkeley, California, location formerly housed the Rare Barrel.

Modern brewing arose from bygone industry. Early American breweries like Sierra Nevada churned out pale ales on old dairy equipment. Fledgling breweries breathed fresh life into shuttered factories, warehouses, and storefronts, business bubbling up with each pint. Retrofitting spaces, though, requires digging drains, installing tanks, and navigating red tape. Starting a dream brewery can fast become a construction nightmare.

Instead of calling contractors and lawyers, breweries are perusing real estate listings and finding turnkey opportunities to ferment new futures. Keg & Lantern Brewing in Brooklyn opened its third taproom in January in the old Randolph Beer space. In March, Structures Brewing opened its second Bellingham, Washington, location in the old Chuckanut Brewery, while June saw Denver’s Monolith Brewing announce plans for the former Black Project Brewing space.

For First Key Consulting, I explore the opportunities and challenges of taking over a former brewery or taproom.