People dogging BYU Basketball because of their conf record or losing leads has no clue. This team is playing at such a high level. Coaching staff is doing a great job getting the team to play with confidence against the best athletes in the country. Compared to historical teams
Closed Friday, looking forward to breathing new life in this tower and reimagining some traditional amenities for CBD office. No we are not converting to apartments and no we are not crazy (completely).
Be sure to check out Siegfried’s in downtown SLC for the best German food! We just signed a deal to keep them as a tenant long term. As the new owner of their building this was a top priority to keep them happy and in business, place is always packed
#wienerschnitzel
What a game!!!! Go Cougs! Roll into Allen Fieldhouse and beat down
#7
@KUHoops
Love this team! So many stone cold killers… going to make some noise in the tourney. Deep, balanced, shooting, size, this team has everything. Let’s go!
@BYUMBB
My brother has a pretty sweet set up in Alberta. 300 acres, big ranch house with renovated 100 year old barn used for events, full rodeo arena. Farm life looks tempting sometimes…
Excited for Brody and his family. I have been able to watch him improve and define his game the last few years. Here is my short summary of what i think he adds to the cougs:
- Very smart player, doesn't take bad shots or get himself into difficult situations, knows his spots
-
NEWS: 2024 four-star SF Brody Kozlowski, a former USC signee, is staying home and has committed to BYU and new head coach Kevin Young, he tells
@On3Recruits
.
Decided to commit to a monthly plan with today. BYU Basketball has given me a lot and its time to give back. Easy to sign up and you can participate at any level and direct the $$ towards any program. I plan to support
@BYUMBB
and
@byuwbb
Feb of 2020 we closed on this 50% vacant office building in SLC. Despite Covid we completed the remodel by fall 2020 and signed 5 new leases and now 100% occupied. Ended up being one of our best deals. How? We bought it right and delivered space that was in demand in its
There is nothing like the BYU Father Sons camp. Such a great experience every Memorial weekend. Get to do all the sports and then some with your son with a ton of life lessons taught by players, coaches, and camp directors.
With both my wife and I being foreign born (Canada & England) we pushed all our kids to earn their “great American award” at their school. Esme got hers today and is reminding me of my promise to make a trip to all the New England American history sites. Start in Boston I assume?
Just broke ground on a 15K SF single tenant medical facility in Stansbury Park, UT. We are chasing the new rooftops in one of Utah's fastest growing communities. This is our third building with this similar design and think its my favorite.
Almost one year ago I made a call to the owner of Glen Eagle Golf Course about developing their hard corner. What started with a purchase offer for the land… turned into us closing today on a long-term partnership through a contribution agreement. Here is Rick (our project
My sons 1st grade teacher called today letting us know he had a stack of cash on his desk. I guess he sold a jibbitz (little rubber things you stick in crocs) to another kid for $13. Pretty good markup for something worth $.05. Make him return the money or tell him good job?
I make my boys do 100 push ups if they want to play games on my phone while watching their siblings sports events. Today they have done 200 each at my daughters tennis tourney. Win win!
My last (significant) capital raise for my deals was January… 29m for a value add office tower. Been chasing deals all year but nothing good until this week we go UC on two monsters. 100% leased medical portfolio and large multi deal. Golf season is over
Progress (and muscles check) on our 40k SF medical office in Lehi, UT. Have a great tenant mix pre-leased including a HCA surgery center on 1st floor. This will be a good one for our investors.
Rendering for our new Eagle Mountain medical center. Currently 50% pre-leased and hoping for a few more tenants before we break ground. Eagle Mountain is the modern day gold rush for medical providers, so many new homes!
Puzzled take away from
@REconveneLA
everyone is putting their stuff in storage, living in multi-fam, WFH and recreating in the metaverse. I believe
@EllliotttB
is the only other to buy office post Covid? No chatter about office except for those concerned with my sanity
@CriddleBenjamin
Ok here it is:
- If you watch a show together, shut it off when she stops watching
- if you run out to grab some quick food don’t meet up with a buddy for lunch
- basically don’t talk until spoken to or fall asleep
- dig deep to find some emotional tears when you first hold
One week post close on 170 S. Main I have been presented more potential acquisitions, debt and equity partners than my previous 16 years in CRE. Starting to see why the big SLC developers are in front of every juicy deal.
Full circle moment: met with my former mentor's son today who's looking for an internship in commercial real estate. His Dad gave me a chance out of college so it was an auto yes from me. Also, he is super bright
In 2023 our team had a busy year!
•Signed 33 new leases throughout our portfolio
•7 new loans/refinances
•Completion of 29 tenant improvement projects
•12 capital expenditure projects
•Completed 3 medical office buildings
•Construction commenced on two new medical office
Check out our new tenant amenity floor at 170 S Main. 100 person training center, full serving kitchen, lounge, and library. Will this make it worth it to take off the PJ’s and come into the office?
Leaving today for a 10 day sailing trip through islands in Tahiti. Allocating 4 items each to my kids bags to mule some American food on the boat. Hopefully you don’t read about us on the news stranded somewhere ✌️
The only person her that has a problem is the teacher and she is technically not a party to the transaction. My son and his friend feel great about the deal
Life goals haven't changed much since becoming an adult.
#1
Have a lot of kids
#2
Make a bunch of money
#3
Get jacked
So far
#1
✅,
#2
TBD,
#3
long list of excuses
That’s a wrap on a great season for Ford and his team the “Fort Street Heat”. Had to prepare, research and learn from other youth coaches to help these 2nd graders (in a 3rd grade league) get better and enjoy the game. We lost a lot of games but the boys never quit and gave 100%.
|
@jbecktwelve
on when young kids should start specializing towards one sport or one position.
"It's never too early to start training. You can get some good training, you can learn some good fundamentals. You have to make sure that it's the right stuff."
"I've seen kids that
Here is a look at our planned amenity floor at 170 S Main. I am a believer in functional amenities... less roof top decks (don't work great in Utah with extreme weather), pickleball courts etc... more training rooms, all hands meeting space, event type space. These provide value
Took a break from twitter the last month to work on my golf game. Me and the boys had a rough day today. My ball there but my buddies putter got stuck in the tree. Was a great toss tho
#degenerates
#golfrage
@CriddleBenjamin
@rtmccombs
Ben I’ve worked with Brody the last few years and he is going to be really good. Still growing, has an edge, but key part just knows how to get buckets. Unfortunately that’s not always the driving factor in recruiting…
Had 10 minutes of personal time today so went to driving range and hit 20 drivers as hard as I could. Proven to have more health benefits than cold plunging and eating vegetables
@realEstateTrent
Your missing the point that many of the 3-4%cap buyers are utilizing a 1031 and just need to park the cash somewhere safe to avoid the gain and recaptured depreciation. Friend of mine right has a 50% tax coming so a 3-5% cap is a smart move for him
Transitioning from brokerage to full time development has been a good change for me.
Yesterday-majority of time in team strategy meetings
Today-update calls with brokers and tenants
Tomorrow-flying to Denver to tour potential acquisitions, meet brokers
No day is ever the
Finally received some good news on our medical dev in Lehi, UT. The home builder is moving forward and scheduling close on the 7 resi lots that we subdivided. 2 previous home builders cancelled prior to DD. Rate hikes and banking scare killed the first 2. Third buyer was the one!
With 20+ buildings things like property insurance can be put in a master policy that creates better coverage and efficiencies. At least that’s the pitch we heard today
I’ve been told by many the last few years the market has been too hot/difficult to find good deals. Now it seems it’s pencils down waiting out the recession. At some point you got to do something, always a reason to stand on the sidelines
Road biking in Utah has a different look and feel. I have no interest in stopping at lights and weaving in and out of traffic. Either mtn bike or climb canyons on the road bike
In the last week, I have received three appraisals (different appraisers) on three very similar medical buildings. 5.5cap, 6cap, and 6.25cap. Looks like it’s time to re-order from the 5.5cap appraiser
We start most our office meetings talking families, religion, politics, and the latest conspiracy theories. This is the best part of NOT working for a big public company. It’s real life, you be you. Nobody agrees with each other but that’s ok.
Fort Street Partners currently has 12 employees. Sometimes I can't believe how much payroll we're dishing out but then i see them solving really hard problems and I'm grateful
Kind of a weird feeling… this week is the first time since I graduated college (07) that I haven’t been with a major brokerage:
Palo Alto - BT Commercial (now Cushman)
Utah - NAI Utah (now Newmark)
Utah - JLL
I guess the training wheels are officially off
Right now professional service firms are really the only ones growing/moving. Big tech, call center, or large back office corporate space have the most vacancy. Smaller spaces 3K,5K,10K are most active everywhere along with Trophy A+ space.
Finished a whirlwind out and back tour of Denver office market. Saw some great product and others that need to be burned to the ground. Highlights:
1- beautiful lobby/cafe (gensler design)
2- activated common space
3- interactive tenant lobby
4- saw a lot of these!
Enjoyed a Cubano at Ponce City Market with my daughter on the way out of town. What a great (re)development, the food hall was packed. Thanks for the recomend
@themarshpit
Kind of a joke that
@NAIOP
Utah Symposium is not having a discussion panel on office this year. 60m SF of office space in Utah and organizers don’t think there is interest to understand what is going on there
Adding a few new ponies to the stable, working towards a close in June. Been an interesting time to raise debt/equity but good real estate finds a way.
#parkcity
Playing Riviera CC next Wednesday with some buddies and can’t really focus on anything else right now. 2 goals for my round… 1) get the first tee shot airborne 2) bump into
@markwahlberg
or Larry David
@moseskagan
We buy value add office, build medical office and net leased retail. Most concerned with eventual perm debt on projects under construction (medical/retail). With that said our pipeline is full with a bunch of new projects… just modeling in the higher rates and lower LTV’s
I get the WFH is real and hybrid seems to be the new norm but I believe it’s short sided to ignore opprt. in an entire asset class. Outside a few submarkets, Utah maintains very high office space occupancy. Maybe just Utahns that prefer being in office? Escape the kids?
We are really excited about this deal. New highway going adjacent to the property and the main road being significantly widened. Currently have a medical center set for Q2 groundbreaking, car wash, and c-store (thanks to
@TannerA_Olson
and
@NNNIncome
)
Gave notice to a large credit tenant (renewal window expired) we won’t be renewing their lease. Another tenant in the building needs the space. Class B office still going strong
#itshappening
Ran into some roadblocks on our financial models for new deals i am tracking. Found an analyst through Bullpen who is a legit phd level excel wizard. So far really impressed and helpful. Anyone used Bullpen or other contract CRE freelancers for modeling?