Porcupine Pub owners buy Market Street Broiler building near the U.
The former Market Street Broiler building near the University of Utah will soon become the Porcupine Pub at the U.
The company that owns and operates the Porcupine Pub in Cottonwood Heights recently purchased the historic Salt Lake City building from Gastronomy Inc., beating out at least a dozen other offers.
Sale of the building, which had been listed at $1.5 million, about $500,000 under appraisal, was finalized earlier this week, said Stacey Adams, marketing director with Canyon Culinary Inc. The company, owned by Byron Loveall and Bryan O'Meara, also owns and operates The Dodo in Sugar House.
Adams wouldn't disclose a final sales price for the Broiler building, but did say "it was higher than market value and there were bids that were higher than ours."
"Gastronomy really wanted to do what was right for the community and find something that would complement that neighborhood," she said.
On April 1, after more than 30 years in business, Tom Guinney and Gastronomy business partner John Williams closed Market Street Broiler and put the historic building, a former fire house, up for sale. It was a sudden decision that shocked the neighborhood and long-time customers.
Gastronomy still operates the Market Street Grill and Oyster Bars in Salt Lake City, Cottonwood Heights, South Jordan and the airport.
On Friday, they issued a news release announcing the sale and praising the new owners."We have had a wonderful business at this location and know all our customers, neighbors and members of the University family will enjoy the hospitality offered by the Porcupine group," Guinney said.
"There was a great deal of interest in purchasing the building by both restaurants and other commercial interests," he said. "But we think this is the perfect match for the building, neighborhoods and customers."
While Market Street Broiler did hold one of the state's coveted club licenses, it was not part of the sale. A Gastronomy spokesperson said that shortly after the restaurant was closed the club license was returned to the Utah Department of Alcoholic Beverage Control.
The Porcupine in Cottonwood Heights, which will now be called Porcupine Pub at the Mouth, has operated for many years with a full-service restaurant license, said Adams. The license requires customers to order food if they are drinking alcohol.
Adams said the Porcupine at the U. will likely operate under the same kind of license.
"The menu and the beer offerings will be similar," she said, noting that Porcupine does not brew its own beer, but does have 24 different Utah brews on tap.