Melt the butter in a skillet over medium-low heat and cook the onions for 15 minutes until soft and golden.
Stir in the brown sugar, balsamic vinegar and water and cook for 5 to 7 minutes until the onions are dark, sticky and nearly dry.
Shape the beef into 4 patties, season with salt and press the cracked pepper onto both sides.
Heat a separate heavy skillet over medium-high heat and cook the patties for 4 to 5 minutes on the first side.
Flip and cook for another 4 to 5 minutes without pressing until the centers reach 160°F.
Divide the blue cheese over the patties, cover the skillet for 1 minute and let it soften without fully disappearing.
Toast the split pretzel buns for 1 minute, then build each with spinach, one patty and a generous spoonful of onion jam.