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This rendering represents the Loloft Industrial Coworking Space at 600 S. First Street in downtown Rogers.
Based in Bentonville RZC Investmentthe investment platform of Stuart and Tom Walton, grandsons of Walmart founder Sam Walton, has invested an undisclosed amount in a commercial real estate startup. Roloft at Rogers.
Loloft is an acronym for “Local Logistics, Flexible Terms”. This business model works similarly to the regular co-working concept, but is marketed by offering flexible warehouse space with lease terms starting from 30 days for early-stage or growing businesses.
Amenities include Wi-Fi, loading dock access, and daily carrier pickups. A free unloading service is also included so members don’t need a forklift or pallet truck.
Loloft co-founder and CEO Brendan Howell introduced the concept to Rogers late last year in a 45,000-square-foot industrial co-working space at 2117 W. Walnut St.
RZC’s investment is supporting the development of a new 28,000 square foot location at 600 S. First St. in downtown Rogers, Rolovt. Includes 11 office spaces, 2 conference rooms, a large conference room, 3 phone booths, and 31 locked private micro-warehouse spaces ranging from 190 to 1,000 square feet.
“We are delighted to partner with (Loloft CEO) Brendan (Howell) and the team at Loloft,” said RZC.
Investment partner Matt Tarver said: “We believe in microwarehousing and fulfillment centers
Represents a key factor in unlocking value for growth stage companies and entrenched players
As we are looking to invest in our supply chain while reducing logistics costs,
Capital expenditures and carbon footprint. “
Chris Baribeau of Fayetteville design firm Modus Studio is leading the redesign of the former ice factory building. It is scheduled to open by the end of the year. Johnson’s High Street Real Estate and Development owns the building.
More than half of the new building’s available space has already been pre-leased, Howell said. Members are:
- A small e-commerce company came out of the garage.
- A startup working on a hardware project.
- Walmart vendor.
- National brands that require flexible micro-warehouses close to retail stores.
“Initially, we thought Roloft would primarily attract smaller e-commerce companies.
We fulfill orders in our garage, but are looking to expand into commercial warehouse space. “
Howell said. “But big companies also want to use our space as the last mile.
It provides micro hubs because it allows you to quickly and cost-effectively place products close to your customers.
To achieve same-day delivery timeframes. “
In addition to investing in RZC, Loloft has raised over $1 million. Part of the funding came from Revolution’s Rise of the Rest Seed Fund, led by Revolution Chairman, CEO and AOL co-founder Steve Case.
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