A prominent business leader, recognized as a market leader nationwide and as the previous EY Entrepreneur of the Year – Western Region.
Before merging with Colliers International, Brandon was co-founder and owner of Coldwell Banker Commercial Advisors, where his leadership was critical to the firm being recognized for 14 years in a row as the number one office internationally for the Coldwell Banker Commercial brand (out of 220 offices), and where he was recognized as the #1 agent globally for many years. Currently, Colliers International is the number one commercial real estate firm in the Intermountain West.
Brandon was recently named CCIM Utah Agent of the Year and 2019 Office Broker of the Year, for which he has been recognized for the majority of the past decade. During the past 12 months alone, Brandon leased over 1.6 million square feet, negotiating over 150 major transactions (including numerous building and land sale transactions). As the only professional to truly bridge and dominate the office market in every county along the Wasatch Front, Brandon has developed unmatched market intelligence — delivering bottom-line results for hundreds of clients.
Brandon has developed a sterling reputation as a trusted advisor and business infrastructure expert on a national, regional and localized basis. Recognized as an authority in business, he has been interviewed and featured in the Wall Street Journal, Bloomberg, Money Magazine, Real Estate Forum, Commercial Property News, Real Estate Executive Magazine and Utah Business. Brandon was also featured nationally as one of Real Estate Forum’s Top 40 under Forty and a Top National Dealmaker.
David Pestana with Rise Utah realty broker and owner. Today I’m with Brandon Fugal who is the chairman of Colliers International here. Hey David. Nice to have you. It’s good to be with you. Good to be with everyone today. Brandon has a long and impressive resume. I believe for the last 16 years he’s been the number one agent in Utah. If not. Maybe you could correct me. The United States pretty close, yeah.
Well, when we were with Coldwell Banker commercial, I had the privilege of being ranked number one agent for many of those years globally for the brand and the entire global platform. Moreover, we’ve had the great fortune of leading the Utah market in the Wasatch Front and. Are currently involved with many projects. I started my career. Over 28 years ago focusing exclusively on the sale and lease of office properties office parks and that has expanded a bit to take in. Large mixed-use projects and other projects that are changing the skyline of our communities here along the Wasatch Front and creating. Really what many refer to as silicon slopes. So it’s much fun, and it’s a pleasure to join you today.
Well, what’s impressive it’s hard to be number one for a year but to do it for honestly as many years as you have. Now you’re only as good as your next deal. So in that also in real estate, especially if you’re in any professional sales you’re perpetually unemployed you’re always looking for your next project your next client.
Alternatively, a deal and a commercial real estate are no different; also, even with the economy being so dynamic and being blessed with so much good fortune and economic development activity we’re always working to come up with new methods of marketing our properties positioning our projects and, really think fueling growth along the Wasatch from participating in that. I think that leads us to our discussion today.
I think one of your secrets has made you so great. Is the market intelligence that you’ve been able to gather to understand the market the people the players the right going on. Which has been pretty incredible. So obviously I do residential to commercial, but it’s all real estate and we’re all related and.
Our fates are intertwined. And even though the residential and commercial markets require entirely different approaches and our different disciplines there really is a symbiotic relationship that exists between both communities and you can usually track market trends based on where you know the residential market is tracking and and and. You know. Where the commercial market is driving because you know the commercial activity is in large part. In response to population growth.
Business creation which also has an impact on the residential market.
So what are your clients asking you right now. As far as do they have any doubts at this point whether they should continue to invest in the Utah market.
It’s funny you know it’s no secret that we all stand in the middle of the longest economic expansion period on record. And.
I think that that makes people both nervous for good reason and also excited. One thing that I’ve noticed compared to other cycles that I’ve lived through in the past I mean when I started my career in 1991 we were just coming out of the SNL crisis and recessionary period. And then you know following that cycle we saw the dot.com bubble burst and one yes and the telecoms correct and it sent shockwaves through various industries and then of course we all lived through the Great Recession the banking crisis and. And today we’re we’re in the midst of this great era of economic expansion. And I think many people are. Are trying to calibrate to where. Where the market is going to be headed in this next cycle and what to watch for right now Utah is uniquely positioned in that. We really haven’t participated in the wild upswings. And you know when markets have been red hot. And we also conversely haven’t participated in the wild down swings you know during the Great Recession. We. Really didn’t have. The the number of distressed assets that you might think in the Utah market fact we were entertaining investors on a regular basis. We’re flying into Utah looking at Utah as a potential. Target. For acquisition and most of them ended up leaving. Very disappointed because there were very few distressed assets and those assets that were distressed. Were for a reason I don’t know that it was really because of the recession that were it was really attributed to other factors. And so. We’re really fortunate and as we’re entering this new era and looking into 2020 the year 2020 ahead of us all of the fundamentals seem to be solid. There does not seem to be a large degree of speculation. In the market. And you know vacancy continues to be running in the single digits which is healthy and we continue to see positive absorption amongst all classes office industrial. Retail. And robust investment activity. So I think there’s a lot of reason to be optimistic and positive although we should always be cautious and temper our optimism with with with at least some. Degree of prudent caution as we’re looking at at the next wave of activity where we see some of that in residential. The speculation is much lower. The the idea that the last recession was really caused by bad loans subprime people that really did deserve stated income.
Right. And those things have fundamentally changed where everybody’s full documentation. Pretty pretty good credit. Credit scores overall. So people are who are buying houses legitimately earned them. Instead of having a huge speculative market that’s based on fraudulent lending. Right. So for some of those reasons I see. Whatever future slowdown we may have it’s definitely going to be much much milder.
Yeah. You really. Do not see either the speculation. Or the underwriting risk that really existed in past cycles. What you do see is a dynamic economy. That is driven by both hyper growth companies that are venture backed. And larger you know Fortune 500 type companies that are. Identifying Utah as a as a major market to expand.
And and grow in. And so long as. You see that that delicate balance of of growth and activity spread amongst many sectors. So it’s not really dependent upon any one sector. Or one. One factor I think that we have cause to be very upbeat and positive one thing about Utah is the fact that it is the most diverse economy in the country. As much as we are very excited about our tech sector our silicon slopes you know our market is a is a major location for financial services manufacturing health and wellness. In fact if you look at some of the biggest new headquarters built along the Wasatch Front in the last 24 months it really hasn’t been tech it’s been attributed to health and wellness and you look at employment. You know our major employers right now include Goldman Sachs you know who is really one of our largest tenants downtown with 3000 employees and growing and the Micron facility which in the past has been referred to as the IAM flash facility there in Lehi at the point of the mountain that is you know one of the world’s leading NAND flash memory chip manufacturing locations and you look at those locations. Those. Employment centers centers of gravity in this market and they really I think speak to the diversity. Within our economy and in the fact that our economy is poised for further growth. Yeah definitely seems like that I wasn’t aware of all those diversity.
Because the silicon slopes get so much more attention for good reason.
Yeah it’s sexy.
Yeah. I mean it just see the likes of Domo observed point Adobe you know Oracle Microsoft eBay. Plural site and others Facebook. I mean yeah I mean here there is tremendous growth in a lot of exciting activity and attention on Utah and our tech sector. But it’s also important to note that I mean if you have Doterra who just completed almost a million square foot campus in Pleasant Grove in North Utah County. That’s huge. You have young living essential oils in Lehi who just completed a major headquarters campus and I think is poised for further growth and development and you combine all of those companies along with the financial services manufacturing and others that are contributing to our economy. And it really bodes well for Utah versus other competing markets across the country. Well there’s a stat that I keep hearing from the government there economists that say that.
Utah is on a growth path that over the next 20 years we would double our population.
And I keep thinking that a little over a million people in the Salt Lake Valley. How are you going to put two point four million people here. Where are you going to put. We’re at 600000. In. Utah County. You know we’re going to go to basically the size of Salt Lake right. In that time and so.
I guess for a question for you what’s driving that is that the business that drives it or is it just is it the lifestyle that attracts people and that business naturally grow from that. What’s you know is the cart or the horse or what’s let’s come in first.
Yes all of the above. It isn’t really attributed to one. Particular. Factor. It’s it’s. It’s really driven by a host. Of of things that are working together I mean right now in Utah we are witnessing.
The greatest renaissance of development. You know what I mean by renissance new development creativity we see thinking thought leadership collaboration occurring. On an unprecedented level. And you also see new construction. Fueling so much of this growth and providing the facilities for not only people. To work but also where they’re going to be shopping in the future living you name it. Right now presently. As we move into the end of 2019 there is over four point one million square feet under construction. Along the Wasatch Front four point one million square feet. That’s a lot. It is. And it’s a record. Amount. Of new office construction. That may be cause for concern. If it wasn’t for the fact. That 75 percent of that is already absorbed. Is already committed. To by cutting down almost. So we roughly have a million square feet that that is under construction available. And based on projections should be absorbed over the course the next six to 12 months.
You couple that with the fact that we continue to maintain single digit vacancies even with rates rising to try to keep pace with the cost of construction. And it’s good.
It’s giving us reason to be excited about our future. My concerns really center on. Rising construction costs you know with with construction costs rising you know can we can we. Continue to underwrite these projects wisely. I worry about residential lot pricing even though that isn’t my. Area of focus that’s yours but I’m seeing you know higher prices. Per lot pricing than ever before and the residential segment and I think is that. Oh yeah.
Well what you’re observing as well well what we have is a shortage of labor to build enough homes to accommodate this growth. And coupled with one of the a blessing and a kind of a curse is the airport construction Sure. They’ve taken so much of the labor force like electricians and all sorts of helpers that would typically be working on a home site. Right. And have caused a lot of builders to have to pay more. For home or for them for this labor. Thus there it’s going to all roll into the home eventually. So they’re not building fast enough and they have to charge more because now they’re paying higher labor costs. And part of it’s that supplies. Sure. So it all. Is it’s all put a crimp on the housing and thus we’ve seen you know. Somewhere between. 8 to 12 percent growth in our market for six straight years. Which for residential is unheard of Utah that stunning. And.
2.8 percent unemployment last month. Yeah. We see unemployment. Hovering right around 3 percent plus or minus and you. You add into that equation. That which you just mentioned the airport. You know we have this. Four or five billion dollar. I mean who knows what the total cost will be when the when the airport is completed this coming year. That a massive multi-billion dollar project. Expanding our international airport. You have. An unprecedented number of. Projects with the Utah Department of Transportation in fact I believe there is over 160 projects that have been approved. And you have the new prison. That is just starting construction. Which according to most recent estimates will cost around eight hundred million dollars. So between the public. Projects. Yeah. You know you have. Incredible. Demand for labor. In a market that is scarce. You know is labor scarce and then you look into the private sector at again over four million square feet of new office construction. Housing. I mean some of the fastest growing companies in the state. And it’s creating this this perfect storm of driving prices up and creating some market dynamics that I think give us some cause for concern. But it has not created enough concern. To really result in a correction. Or any type of slowdown.
Right. No it hasn’t. I mean if there was a correction I don’t think it’s going to start in Utah. No it’s going to be somewhere else with something.
Well the coastal markets are much more volatile. You look at the East and the West Coast. You know the first tier markets have a lot more volatility and they usually lead a either and an uptick or a downturn. And I think we’re we’re watching those markets closely to see what happens. I moved here 11 years ago from Southern California. Who was is basically the epicenter of the.
Loan crisis that started right. And. I came here and I think it’s not that bad here because in spite of all that you do have a lot of Californians migrate to Utah because of the favorable housing situation where they can.
Basically almost buy the house of their dreams for cash because of what they owned in California. And they usually are here because their children are working here. Have gone to local universities and chose not to leave. Right. So that’s a big trend is that. As a state we’ve done. I don’t know if I can include myself but you know they have done something good where people have the ability they have a life here. Where they can create a job you know they have a job they can have a nice lifestyle. Right. And then obviously they have kids and it perpetuates from there. And then eventually Grandma and Grandpa come from out of state to be with them. Well one of Utah’s greatest strengths is the fact that it’s a college town.
In Utah County we have Brigham Young University and the largest institution in the state which is Utah Valley University with over 40000 students here in Salt Lake Valley. You have the University of Utah Westminster Salt Lake Community College up to the north.
You have Utah State University and the famed Space Dynamics Lab. I mean we we really are a college town and the amount of technology transfer and innovation. That is coming out of our. Our institutional base is something that I think often gets overlooked but is a key driver for growth. And it’s hard to quantify at times. I think that’s something that we can continue to watch with great interest.
Yeah you’re right. Because most of those guys who start the Well I think predominantly I think of tech companies. I. Was in college.
Quits. To continue his tech company.
Sure. Well you look at Qualtrics one of the greatest examples and success stories in Utah history if not the greatest example when you were sold for the. Highest price in history. Yes. So they were just recently acquired by SAP. Global software giant SAP for eight billion dollars and this is a company. That was was really. Incubated and launched out of Provo out of BYU. Professor Smith and his sons Ryan Jared. Their team. Really I think created something special and it really it speaks to how. Unique our entrepreneurial environment really is. I mean the pioneer spirit. That really established Utah in the first place back in the eighteen hundreds when Brigham Young you know drove the Mormon settlers to. To build communities and in that same pioneer spirit that created the crossroads of the West I think is alive and well today. In our tech sector and others. Is there really kind of I think reshaping the landscape in Qualtrics is one of those great examples of technology transfer at least. You. Know. New innovations spawned from our youngest most talented. Students.
Within our university system. Well I know I can speak for that just seeing other people’s response to their success. Just getting blown away and seeing.
Everybody who wants to go into the tech industry.
It’s inspiring. It’s inspiring. And you know what the beautiful thing about Utah is everyone believes. That they have a shot. I think everyone. Everyone has. A dream. That they can they can contribute whether they’re an innovator. Thought Leader. Inventor. You name it. It’s a special place that I think fosters growth. And success and innovation like no other on the planet. I mean it’s no coincidence that you have the largest concentration. Of. Network marketing companies. That did have global sales distribution channels. Based here in Utah. And it’s really due to that spirit and also the fact that we have more multilingual talent here. Concentrated along the Wasatch Front than. Than ever. I think that’s one of the reasons why you see Goldman Sachs Fidelity Investments American Express Morgan Stanley discover and others.
Really establishing and expanding major operations in this market. I mean where else can you go. In the country. And in. And. Recruit. That kind of talent. That is young. Educated industrious has a great work ethic and I think the demographic with the low crime rate and the emphasis on family sets Utah apart from many places across the country and it’s something that we probably don’t tout enough.
I think people are recognizing it though. I mean. They come here and they experience pretty fairly wholesome area. Great mountains all the Skiing and mountain biking and want to do and I just love I fell in love with this area myself having grown up in Southern California and coming here where else in the country can you fly into an international airport and within 20 minutes be standing in any number of world class resort destinations doesn’t happen doesn’t happen. You fly to Denver and I don’t know about your experience I fly to Denver and every time I land there I wonder where the hell are the mountains and where is are far away they work whereas the business center the. We’re very fortunate to have a major international airport that is now completing its expansion. That offers proximity to quality of life benefits. To our entire workforce and population and then you add to that the fact that mass transit. Has been playing a key role in our expansion. And we have. High speed light rail which we call tracks and then we have our commuter rail system that spans the entire Wasatch Front known as front runner. And I think that that emphasis on mass transit and combining that with all of our other infrastructure that continues to grow really positions us well. I think the dark side of that is the constant construction. I joke all the time that we should be changing the status symbol from the beehive to the orange construction cone or barrel if you will because we are plagued by constant. Road construction in order to keep pace with the growth that we’re experiencing in these communities. And you know it’s it’s a two edged sword. Well OK so let’s assume that this projections actually come. To pass. That we really do double.
In 20 years. What do you think needs to happen. From a state’s perspective. And just how would that. How would this I’m looking at here at your view. What would this look like to you.
Wow. Well I that’s a pretty grandiose idea.
Well without question we’re going to see our skyline transformed. It’s inevitable. With that population growth. With that kind of momentum. The skyline across the Wasatch Front is going to continue to grow. I predict also that that growth will be centered. In the suburban market. Over 80 percent of our growth and absorption over the last decade has been in our suburban market. It’s been out in our communities.
And that was just to clarify how what are those areas are we talking about the Salt Lake Valley. So you know valleys.
Good question. So traditionally in major markets across the country your business growth is usually centered in a central business district or the CBD although the Salt Lake CBD is vibrant and healthy and boasting new skyscrapers like the one we’re sitting in here we’re on the second floor of 1 1 1 main with our Colliers International office and we have another tower under construction just one block away. It’s important to note that the majority of the growth 80 percent of it give or take is really out South Valley. It’s out in the midst of the suburbs and it’s really centered between South Salt Lake County and North Utah County and that is really the heart of what people refer to as Silicon slopes. And when people ask me what what is driving that why are you seeing 80 percent of the absorption in the new construction activity really centered in a relatively small area. I mean. 12 mile. Area. And it’s really attributed to the fact that it’s about recruitment retention. In a market with you know 3 percent unemployment give or take. Companies are trying to position themselves. For better recruitment and retention. As they grow and the ability to draw from both the Salt Lake County and the Utah County demographic is key. To succeeding with those growth initiatives. We’re going to see growth in Davis we were county as well to the north of Salt Lake City. The only problem with Davis we were county up until now is that they have not seen. The amount of business creation or entrepreneurial activity that we’ve seen down in Utah County and there are a number of reasons that I can point to. For that. Most notably I think BYU and UVA you spawned a lot of entrepreneurs and just the sheer size of the universities. Yeah they’re gonna be pumping out more entrepreneurs. Sure. And it’s a younger demographic. We already rather than more talented or not. Yeah, I think I think perseverance and you know I think. I think drive is to a large degree. Definitely. The.
Force. Well so yeah I agree. I skyline is gonna change we’re going to I mean you get to see more. Approvals now for mid-rise buildings and areas where it is typically just two storey. And. You know that’s going to change a lot.
Well you see mixed-use. You see Master Plan projects that are combining. In true form live work play. Where they have.
High-density residential components matched with class A office matched with retail service amenities. I mean Station Park in Farmington in Davis County is a good example of that. I mean we are fortunate to work on the master planning of that project which is over a million square feet. You have the combination of lifestyle retail with three hundred thousand square feet of class A office and right across the street you know living space and you you happen to be right at the center of a mass transit hub you’re at the convergence of I15 Highway 89 Legacy Highway and front runner in one location you’re going to continue to see. Transit Orient development drives a lot of the growth along the Wasatch Front. If. Properly. Master-planned.
Utah County’s vineyard project. We have a couple of the four Geneva the former Geneva steel property which is arguably one of the largest infill sites in the United States that has undergone development for redevelopment over the course of the last decade is one good example of mixed-use where you have thousands of residential. Units. Under construction being completed coupled with everything from a new megaplex I think it’s a 20 screen megaplex theater. And restaurant services and really new office development that will be poised to break ground in the months ahead. Graduate campus right there. Exactly. Well. Precisely Utah Valley University chose that site. Strategically. Because of its access.
To the entire market. It’s centralized access to. Front runner. To really mass transit and you know.
It’s it was a brilliant move to acquire two hundred and thirty acres in the heart of that project not just for the next few years but for decades to come. We’re really seeing legacy developments created that I think will fuel. A lot of the growth into the future and provide opportunities for generations. Yeah, the area down there at the water’s edge community has been the hottest residential side in Utah accounting for the last two or three years and. It’s pretty exciting. I. Have to pinch myself some days but you know I wake up scared to death every morning as well because as long as buildings stand vacant or we have vacancy that needs to be absorbed or inventory that needs to be moved. It’s an unsettling feeling and I think that’s one thing that has is. Kept. My fire in the belly alive over the course of the last twenty-seven twenty-eight years is really. Always. Always conditioning myself. To never take for granted. The. The. Growth. The activity. The Prosperity that we’ve seen here along the Wasatch Front because as fast as that has seemingly come it can be taken away and I think it’s important that we all stay very very mindful and watch the indicators and not get too far ahead of ourselves. I think tempering that optimism. With with with prudence I think will serve not only our entrepreneurial community well but also our state leaders as we go into the future. We’ve been very fortunate to have. Unmatched public-private engagement. A lot of people that fly into Utah ask me what makes Utah so special what why is Utah ranked consistently at the top of all of the charts whether it be business week or Forbes or Fortune. U.S. News World Report and you know there are a dozen different. Different things you can point to. But really I think one of. One of the things that I’ve been most proud to watch over the years is that public private engagement where you have a governor. And state legislature and local municipal.
Leadership that joins with the business community and sees them as partners. And I think the business community and the development community sees the governor’s office. As a partner. In. In really I think forging new approaches to economic development. And I hope to see that continue into the future.
I’m a big fan of Governor Herbert. I think Governor Gary Herbert has set a tone. That the rest of the nation has watched and learned from over the course the last decade. And you know he was fortunate in that he had it. He had a very wise predecessor in Jon Huntsman Jr. That was part of setting the stage. But Governor Herbert has really done an incredible job presiding over this era.
Of economic expansion that will go down the history books.
So I think the fact that he had a real estate background helped.
Indeed I love that he gets small business. We have a governor who actually knows what it feels like. To be. You know opening a business on Main Street and really having to go out and eat what you kill if you wish or if you will. It’s refreshing to have. You know leadership here in Utah that understands the business community and understands that.
That it’s important to continue to incentivize people. I mean socialism.
Doesn’t work. I mean free-market capitalism. Is the key driver of our great nation. And I would hope that. That this next generation that the millennials will help carry that torch forward and help us. Strengthen that.
You mentioned You’re looking at some key. Stats indicators. What are those key steps that you’d like to pay attention to you know.
In our market. It’s usually it’s vacancy lease rates absorption. Cap rates. Low vacancy has continued to remain in the single digits in spite of. New construction at a record pace. We’re still seeing I mean the class a market we’re seeing 5 percent vacancy.
Which is virtually nonexistent when you take into account that that will hopefully be absorbed over the course of the months ahead. Lease rates rising and keeping pace with the cost of construction. Really denote a healthy market. And as long as our rates remain competitive. Versus the rest of the country which they are. I think I think we can continue to participate in this growth on a national. Level absorption is is is simply. The. Statistic that tracks you know how much space is being taken down net positive. You know as companies move out of space is their space not only being backfilled but is that resulting in net positive absorption and you know we’re projecting well over a million square feet of positive absorption right now year to date and that will continue. And then you look at cap rates you know the investment rates and what investors can expect and Utah is a bargain. You look at Utah versus the rest of the country. You can come into Utah and buy an income-producing asset. An institutional great asset. At a 7 percent cap rate give or take. That in. Other markets in first-tier markets on the east and west coast would be commanding four or five percent cap rates. I think. It really does speak to how competitive Utah has continued to be in really providing an opportunity for investors. And for those who are looking to our market as a safe haven. And I think that. You know.
Having a willing will continue to see that trend play out.
I don’t want to minimize the fact that we also have a world headquarters of a global religion here. I mean right outside of our window we have the headquarters of the Church of Jesus Christ of Latter-day Saints. And I have to credit. The LDS church and their investment in the community as a major economic driver. During the Great Recession if it wasn’t for the LDS church. Building on a speculative basis out of cash with not one penny. Of tax incentive. What has become the multi-block City Creek development which I mean we’re talking billions of dollars of investment. I mean it. It’s scary to think of where our downtown would be. Without. Their leadership and their role and I don’t care what religious persuasion you are. The LDS Church continues to. To I think contribute to this market in a unique way. That that is perhaps the. The X Factor. Along the Wasatch Front that.
Often gets overlooked and I think is something that we should look to as a positive and be proud of. So. A lot of things to point to in this great renaissance that we’re were experiencing.
That’s what’s exciting to me is it’s so diverse. I had a client actually just recently ask me like where you know what. Basically what I was asking is there anyone business that if it went out of business would make this area. Like, go down. And I couldn’t think of you know anything I’m like well we’re businesses everywhere and I can’t say that it’s not like you live right next to Wal-Mart or Microsoft and everybody. Works there. Right. Everybody does everything.
That’s the benefit of being the most diverse economy in the United States. We are not dependent upon any one sector. Or business.
You know we’re not just a travel state to go skiing. We’re no we’re not. We got everything. Yeah. You look at Hawaii. Hawaii beautiful state. I mean we have a couple of projects there. That we’re involved in and Hawaii is it’s no secret it is driven by tourism. Utah although we have a very robust healthy tourism. Focus here and tourism is it’s a very good contributor to our economy.
It’s just one of many. You know we have a Building film industry. I mean we have the park city film studios and a lot of movies motion pictures television shows that are being filmed right here in our backyard. Why. Talent access to talent. It’s cost-effective. We have some of the most scenic backdrops on the planet. Forget the United States on planet Earth that exist here in Utah. That can be taken advantage of and all of that really helps fuel our economy and I think there’s a creative. Element here there’s a creative component to our demographic that gets overlooked sometimes but is manifest in the fact that I think we have the second-largest comic con which is now called Fan X. But we just you know two weekends ago had over 100000 people. Converge on the Salt Palace Convention Center for fan X or Salt Lake Comic-Con. But fan X has become a cultural event. That brings together celebrity.
Commerce creativity unlike anything else. And it’s an exciting time to see so much diversity. Contributing to our communities to our market. And. I think people you know even though we are predominantly Latter-day Saints driven demographic I think people also would be surprised to hear that we have a very. Vibrant. Very active. You know. Diverse. Demographic that is embracing all cultures. I mean our pride day in Salt Lake City. From what I’ve heard is one of the largest in the country. And I don’t want to misquote but it seems like I heard a statistic that it was the second-largest pride day outside of San Francisco. And I think that’s.
That’s indicative of where our state is moving as far as being more inclusive and diverse. And I think with that diversity comes.
Comes great opportunity. I think it becomes a place where. You don’t have to be a member of the Church of Jesus Christ of Latter-day Saints. You can. You can enjoy this place for who you are right and for what you believe in. And it’s a great place to live and. And to feel included not to feel.
Excluded. Indeed. No there’s a lot to be proud of. A lot of exciting. Things that lie in store. For. For those of us here in Utah and for the next generation. Real estate is the backbone of that. I mean the thing I love. About real estate. I do not know. I cannot identify. Another career path that gives one a more tangible manifestation of their labors. To be able to participate. In building communities in changing the skyline. So the communities we serve and helping people. Within your case and you’re helping people with the single largest purchase they make in their lives. And I’ve had the privilege of working with entrepreneurs and business leaders to create places where they can work and prosper and grow and benefit the communities in ways that. That I think are hard to quantify.
And I think real estate is at the center of all of that. And if you’re in business you have to have a real estate strategy. I don’t care whether you are a. One man show working out of the basement of your house or whether you’re growing into a company that ultimately employ hundreds or thousands. It is critical to have a real estate strategy guiding. Your growth and helping you to be able to I think properly establish the roadmap for success. And I applaud your efforts with your show with this podcast if you will as this podcast or if we do a little of everything with it. So I think it’s important that people realize that. There are resources out there. There are trusted advisors that can help them that can guide them to make the right decisions along their path. And I think that’s a great privilege to have a seat at the table to be a trusted advisor. To people. To help improve their lives to help improve their bottom line create wealth. Save money and position them for the future.
It is a great privilege. Yeah. I agree with that and I can see the sincerity when you say how you feel about it. Then you have changed Utah and all the projects that you’ve been a part of. I’m sure. You know to be able to drive down. 15 Freeway and for it to have you point out to all the different things that you’ve been a part of. It’s pretty spectacular. It’s humbling and it’s really gratifying too. To play a role In that growth and development and to have the privilege. Of being involved with so many incredible leaders. Community leaders business leaders and really seeing.
Their dreams become a reality. And you know seeing that brick and mortar as a representation of those dreams and that growth this is exciting. And I think we’re just getting warmed up. Well and really the purpose I should’ve said earlier when you ask me about this podcast that we do is really.
It’s just a forum to educate people on the questions that everyone has and needs answers to. But I after talking with you I feel more excited than ever.
There’s a lot to be said. Go do something in real estate to have a. Not just as a realtor but as an individual wanting to invest in this area.
And the growth potential. It’s kind of like a tie. You know if this area’s just going to go up it’s. I don’t want to say it’s hard to go wrong but in many ways, you can. It’s a good or a great investment. Though.
Right. It’s not a matter of whether we will continue to succeed it’s. How much success hopefully. We’ll be able. To participate in and. You know what. What do we need to do? In the community. To help. Others. Succeed and realize their dreams. What can we do to help lift. Our communities and those people that that are the next wave of entrepreneurs the dreamers the risk-takers. I often say that if it wasn’t for the dreamers and the risk-takers we’d all be out of a job right now. It takes great risk. And perseverance to be able to. To succeed in today’s market even though. You know our country. Remains the greatest. Country on the planet. You know it’s you know this is. This is such an incredible place. I think it’s important that we. Not lose sight of our core principles and really what established. Our country. In the first place and really. Speaking of Utah. You know that industrious. Spirit that the pioneering spirit that we see manifest today with our entrepreneurs. I think making sure that we’re incentivizing them encouraging them in the right direction will be key to our success.
Well I think we should just end it there. It’s been great it’s been a great interview. Thank you Brandon. For your time.
Thank you. It’s a privilege to come together.