4750 S forty fourth Place spans practically 80,000 sq. toes in suburban Phoenix. Picture courtesy of CommercialEdge
Industrial coworking agency Loloft has signed a leasing settlement with Workspace Property Belief for 51,902 sq. toes at 4750 S. forty fourth Place, in Phoenix, Ariz. Member move-ins will begin in 2024’s second quarter, whereas preleasing is already ongoing.
The situation will present a mixture of shared micro-warehousing and coworking house, with out there areas starting from 125 to 1,500 sq. toes. Facilities on the property will embrace 24-hour entry, reception with visitor check-in, mail dealing with, kitchen and common-area workspace.
Accomplished in 2007, the property spans 79,496 sq. toes and is a part of the bigger Cotton Middle enterprise park, which encompasses 12 buildings totaling greater than 1.2 million sq. toes—in line with CommercialEdge information. It’s wholly owned by Workspace Property Belief which acquired it in 2016, the identical supply reveals. In 2018, 4750 S. forty fourth Place grew to become topic to a $15.3 million mortgage from Wells Fargo Financial institution.
Situated close to Interstate 10, the constructing is roughly 8 miles from downtown Phoenix, lower than 5 miles from the Phoenix Sky Harbor Worldwide Airport and a few 4 miles from Tempe. The property marks Loloft’s second enterprise. The corporate shaped in 2021 and debuted with a location in Downtown Rogers, Ark. Its development plans contain additional increasing into markets reminiscent of Minneapolis, Kansas Metropolis, Portland, Ore. and Tampa, Fla.
