Dallas-based investment firm and developer Madewell Cos. has branched into coworking, launching a mixed-use office, retail, and warehouse space for small business owners at Bent Tree Plaza in Carrollton. Housed in a former Albertsons store, the 50,000 square-foot concept offers flexible floorplans and short-term leases, combined with the shipping and storage capabilities of a traditional warehouse. “A lot of mixes provide for a lot of needs of a variety of people,” says Jordan D’Silva, Madewell Spaces’ head of operations. D’Silva is also the CEO of Web City Properties, a partner in the project.
Madewell Cos. Launched in 2018 as a real estate development and investment firm, then expanded to include Madewell Construction Solutions two years later. Led by co-founders Joon Choe and Mohammad Qasim, the company’s portfolio includes the development of the 36-acre Mustang Square in Plano, 80-acre mixed-use project The Avenue in Allen, residential projects in Frisco and McKinney, and more.
The new co-warehousing space is designed to accommodate tenants as their businesses grow, with the capacity to scale the size of their space up or down during their lease—without cancellation or termination fees. Its 37 booths vary in size from 200 to 3,000 square feet and can be formatted to be storefront, office, or warehouse, spaces.
“We wanted to reverse-engineer our needs into a community,” says Choe. A huge part of that involved addressing common shipping and inventory woes. Two large loading docks at the rear of the facility, leftover from its days as an Albertsons, allow tenants to receive large shipments and deliver to customers efficiently.
“A large problem that businesses face is that you don’t have access to carriers like UPS and FedEx coming every day and taking shipments to deliver to customers on time,” says Choe. “Customers are expecting Amazon-level experience with small businesses. This really equalizes the playing field for small businesses.”
Additionally, the facility’s location inside a shopping center addresses safety concerns felt by many who lease traditional warehouse spaces. “The data has shown that a lot of women-owned businesses have been able to encapsulate here because of the safety aspects,” says Choe. “This space used to be a grocery anchor center, so it has high visibility traffic that also gives you a lot of amenities.”
Beyond foot traffic and visibility, amenities include two conference rooms and six office spaces for rent, a shipping and receiving concierge, event spaces, and more.
Madewell Spaces soft-launched earlier this month, with five tenants already onboard. A formal grand opening is planned for September 2023. Leaders say they have no plans to expand at present but hope to build a model that will be “easy to replicate.”
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