Loloft Launches Exclusive Co-Working Warehouse Concept in Tampa

Arkansas-founded coworking startup Loloft is set to launch in Tampa in 2024, converting a suburban flex building near Brandon into a space adorned with stylish interiors and amenities typically associated with downtown office towers.

“My background is in engineering, so I’ve spent plenty of time in dirty old aircraft hangars with pretty basic break rooms,” Loloft co-founder Brendan Howell told the Tampa Bay Business Journal. “We wanted to create a more elevated experience.”

Loloft has secured a 13-year lease for 45,600 square feet at 206 Kelsey Lane, a flex building owned by Workspace Property Trust. The flex building, suitable for both office tenants and light industrial users, will undergo a transformation to exude chic interiors and offer amenities commonly found in downtown office towers. The focus is on catering to startups requiring modest office and warehouse spaces, or a combination of both, complemented by standard coworking facilities such as a kitchen, conference rooms, and phone booths.

The launch of the Tampa location represents a $2 million investment, according to Howell. Loloft is specifically targeting businesses that have outgrown garage or storage unit setups but are not yet ready for the commitments and uncertainties associated with traditional long-term office or industrial leases. Backed by Bentonville, Arkansas-based RZC Investments, the investment fund controlled by Walmart heirs Steuart and Tom Walton, Loloft initially debuted in Rogers, Arkansas.

Notably, the Tampa site marks Loloft’s second lease agreement with Workspace; the first is in Phoenix, with a third currently under negotiation, as mentioned by Howell. While Workspace and Loloft are not exclusive partners, both parties express the intent to explore additional collaborative deals, according to statements from Howell and Roger Thomas, co-founder, president, and chief operating officer of Workspace.

“There is a lot of runway with [Howell] and with this concept,” Thomas said. “We’re working on our third lease with him now, and I expect there to be more in the hopper.”

In Tampa, Workspace possesses ownership of 34 buildings, collectively comprising 1.8 million square feet. These structures are situated within two industrial parks: Woodlands Corporate Center and Silo Bend Industrial Park. As of now, 80% of Workspace’s Tampa portfolio is occupied.

Managing property and construction responsibilities internally, Workspace operates in-house teams dedicated to these functions, as highlighted by Thomas.

“You can do this very cost effectively, which from the landlord’s perspective — that’s important,” Thomas said. “[Howell has] designed these spaces so that he can build out these individual warehousing facilities at a good price point and devote more of that money to the common areas.”