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This rendering shows the LoLoft industrial co-working space at 600 S. First Street in downtown Rogers.
Based in Bentonville RZC investmentStewart and Tom Walton, grandsons of Walmart founder Sam Walton, have invested an undisclosed amount in the investment platform’s commercial real estate startup. Loloft by Rogers.
Loloft is an acronym for “Local Logistics, Flexible Terms”. The business model works similar to a standard co-op concept, but is sold to start-up or growing companies by offering flexible warehouse space on leases starting at 30 days.
Amenities include Wi-Fi, dock access and daily shuttle service. Plus, a free drop-off service is included, so members don’t need a forklift or forklift.
LoLoft founder and CEO Brendan Howell introduced the concept late last year at Rogers, located at 2117 W. Walnut St. 45,000 square feet of industrial co-working space.
RZC’s investment in Loloff’s new 28,000-square-foot location at 600 S. First St. He is advocating for it to be built in Downtown Rogers. It includes 11 office spaces, two meeting rooms, a large conference room, three phone booths and 31 private and lockable mini-storage spaces ranging from 190 to 1,000 square feet.
“We are excited to partner with (Loloft CEO) Brendan (Howell) and the team at Loloft,” RZC said
Investments partner Matt Tarver said. “We believe in small storage and fulfillment centers.
For growth stage companies and established players, they represent a key element of the opening value
Similarly, when they want to invest in their supply chain, they also work to reduce their logistics costs
Capital investments and carbon footprints.
Chris Baribeau with Fayetteville design firm Modus Studio is leading the construction design of the former ice factory. It is expected to open by the end of the year. High Street Real Estate and Development in Johnson owns the building.
Howell said more than half of the new building is already leased. Members include:
- Small e-commerce companies are coming out of their garages.
- Beginners working on hardware projects.
- Walmart sellers.
- National brands looking for flexible micro-warehouse in close proximity to retail stores.
“Initially, we thought that Loloft would mainly attract small e-commerce companies
They fulfill orders in their garages but are looking to expand into commercial warehouse space.
Howell said. But we are getting bigger companies that want to use our space as a last mile.
Deliver micro-resources because you can quickly and cost-effectively place products close to customers
To achieve same day delivery times.
In addition to RZC’s investment, Loloft has raised more than $1 million. Part of that funding came from Revolution’s Rise of the Rest Seed Fund, led by Revolution Chairman, CEO and AOL Founder Steve Case.
