Chairman & Co-founder, Mountain West Strategic (Newmark Mountain West, MW PM, Mountain West Pod). 1.5k+ CRE deals done a yr / $6b annually. UTAH/ CRE OBSESSED

Salt Lake City, UT
Joined September 2009
There is a war of survival being fought by independent restaurants in Utah right now.  Sadly, they are losing. Closures of restaurants in the state YTD are at or have exceeded historic levels.  What are the causes:  1. High labor & food costs  2. Rent inflation.  3. Shift and/ or contraction in discretionary spending.  We are witnessing a historic shift in the restaurant industry.
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I actually love touring old bldgs. They are like time capsules.
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American Breakfast is the GOAT.
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Great momentum in downtown SLC. Love it.
We’re excited to share the next phase of what’s coming to downtown Salt Lake City. The new district will have something for everyone. It’ll have a new convention center, updated Abravanel Hall, new art museum, transformed Delta Center, Live Nation venue, strong local vibe combined with new iconic brands, hotel, housing, restaurants, and a central pedestrian walkway connecting the whole downtown from City Creek all the way to the new front door of the Delta Center.
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Jonathan Owens, a Director here at Newmark Mountain West is this week’s guest on the podcast for an all-new episode; Commission Impossible: Bet on This. Full video: mwcre.com/podcast/betonthis
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Sometimes renovating bldgs can be fun.
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Anyone know a commercial painter that can paint a really, REALLY big water tower at our bldg in downtown SLC?
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They slightly underestimated the construction timeline.
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Imma say it, some ppl are gonna be mad: Utah food game is getting good.
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Expensive/ health conscious QSR is a very hard space rn……
True Food Kitchen has filed Chapter 11. The company plans to close 12 locations, leaving it with 34. It plans to initiate a sale process. The company was created in 2008 by restaurateur Sam Fox and Dr. Andrew Weil, with Oprah and Howard Schultz among its early backers. The concept’s mission was to serve healthier food. The company has $42 million in debt and blamed a host of factors for the filing, including management turnover, frequent changes in expansion strategy, shifts in brand strategy that often strayed beyond its core mission, a few weak locations and naturally the pandemic.
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About every 30 yrs gas stations replace the underground storage tanks. It ain’t a pretty process.
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Owning CRE is fun…… Got a call from my contractor that the demo boys accidentally severed the live main power trunk going into our 100,000 SF bldg….. Grateful , no one was injured or killed.
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UPDATE: all new lines being pulled through from outside to inside.
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Fall Leaves w/ Dexter never misses…
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Best cheese steak in the state of Utah?
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Is the dirty soda trend dying? Our research shows that all soda shops in Utah saw a YoY decline in traffic except Thirst. Is the consumer shifting on drive thru soda shops?
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We are soooo back!
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