The concept was to take an urban mainstay, the artist’s loft, and give it a suburban flavor.
The result has been the full-meal deal for Creative Workspaces.
The company’s principals, Jeff Silesky and Mark Rogers, are bringing the idea they first found success with in Renton to Lynnwood with two new buildings set to open in September at 168th Street Southwest and 48th Avenue West.
The concept is “extremely affordable, no-frills space for your business, hobby, craft or studio,” according to the company.
“We used as a model the buildings in the city, in Fremont and West Seattle,” Roger said recently. In those buildings, he said, the tenant mix tends to be about 30 percent artists and 70 percent some type of business, or professional, use.
“From that, we were expecting a trend toward 20 percent artists and 80 percent professional. What we got was 95 percent professional,” he said.
The spaces at the Renton building are small, ranging from 72 square feet, 9-feet by 8-feet, to the largest ground-floor retail space at 600 square feet. “Like executive suites on a budget,” Rogers said.
All spaces are heated, include a window and have a private, locking entrance. Also, phone, fax and high-speed Internet access are available in each space for a small additional charge. Many of the spaces have utility sinks and all have access to common restrooms. The buildings also have 24 hour on-site supervision.
The result is a sort of mixed-use business building, with some retail on the bottom, along with drive-up storage space, to a smorgasbord of other businesses.
“It’s a unique concept in office space,” Rogers said. “We have 70 businesses in Renton. They’re across the board, from real estate agents, family counseling, massage, insurance agents and general contractors.”
Rogers said the Renton facility has 135 total spaces, with 92 currently leased to 70 separate businesses. While of course they’d like more, that occupancy rate is enough to make money for the company, Rogers said.
They are learning from the Renton building and making some changes in Lynnwood, Rogers said.
The smallest space at the Lynnwood location will be 10-feet by 12-feet. In addition, the Lynnwood property has room for a separate, 2,450-square-foot building that will be broken up into just two, 1,200 square-foot spaces, Rogers said.
Because of that, the $199 a month entry-level cost in Renton will be $275 in Lynnwood, he said.
Rogers said the concept works in places like Renton and Lynnwood. “The vacancy rate equals cash flow. It is hard to make this pencil out in Bellevue, Kirkland or Redmond, the rent is too high,” he said.
The Lynnwood buildings will also have some upgraded materials, he said.
“People are sensitive to the type of finish work, a little more upscale,” Rogers said. “It gets down to having a professional look.”
The building has on-premises parking and there are a limited number of parking passes that tenants can give to clients.
“The reality is that most tenants don’t use their spaces 9 to 5 like a regular office building,” Rogers said. “In Renton, there are 40-50 spaces and there are always some spaces open.”
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