Taproom Traffic Has Not Recovered to Pre-Pandemic Levels

New Holland Brewing Company has secured a 50% reduction in base rent at its Grand Rapids taproom on Bridge Street. The company announced the renegotiated lease terms as it continues to navigate financial headwinds that have impacted the broader hospitality sector.

According to mlive.com, the rent cut addresses a significant drop in customer volume at the location. Foot traffic at the Bridge Street building is down approximately 35% from pre-pandemic levels, the company's marketing and sales director said.

A Renegotiated Lease for a Local Icon

The Bridge Street taproom is one of the most recognizable brewing locations in Grand Rapids. New Holland Brewing Company is a staple of the city's beer culture. The lease adjustment allows the company to keep the doors open while it works to rebuild patronage.

The rent cut is part of a renegotiated lease at New Holland Brewing Company's Bridge Street building, where foot traffic is down about 35% from pre-pandemic levels, its marketing and sales director said. — mlive.com

What This Means for Grand Rapids Breweries

The move highlights the ongoing challenges facing brick-and-mortar hospitality businesses in Grand Rapids. Many taprooms and restaurants have struggled to regain the foot traffic they enjoyed before 2020. New Holland's decision to renegotiate its lease rather than close the location signals a commitment to staying in the city despite the financial strain.

• Company: New Holland Brewing Company
• Location: Bridge Street, Grand Rapids
• Rent Reduction: 50% base rent cut
• Foot Traffic Drop: Approximately 35% below pre-pandemic levels
• Source: mlive.com, The Grand Rapids Press

The company did not disclose the total dollar amount of the rent savings or the length of the new lease term.