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Foodie culture and hipster millennials have propelled craft beer into the national spotlight, having a positive sway on national and local commercial real estate markets, according to the Craft Brewing Revolution report released by Cushman & Wakefield.
Cushman & Wakefield reports that “Cool Street” markets, up-and-coming areas within urban communities, where millennials have been drawn to for some time, have been the main beneficiary of this American beer trend.
The number of brewpub establishments in the U.S. has more than doubled between 2006 and 2016, according to the Brewers Association and Cushman & Wakefield. Arizona had a 152.9 percent increase in the number of breweries in five years from 2011 to 2016, the report notes, with 86 craft breweries located in the Grand Canyon State.
