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Concord Pacific Acquires Molson Coors Brewery Lands In Blockbuster Deal

Vancouver’s Molson Coors brewery lands south of the Burrard Street Bridge have been acquired  by Concord Pacific in a blockbuster real estate sale.

According to a statement released by Molson Coors, the deal was officially sealed on March 31st, 2016, for a price of $185 million.

The statement adds that Concord has agreed to allow the brewery to continue operations while a new brewery is being constructed elsewhere in British Columbia..

“Concord has agreed to lease back the existing property for Molson to continue brewery operations while a new brewery is being constructed.”

Once the lease is up, Concord plans to redevelop the site as a “mixed-use residential neighborhood”, along with a “knowledge-based work centre” to target tech firms.

It’s important to note the property is currently zoned for industrial use only, and Concord will have to submit a rezoning application to the city of Vancouver.

 

 

Image via Google Maps

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