Co-working space crashes before takeoff

445 Broadway is back on the market. Photos by Burl Rolett.

445 Broadway is back on the market. Photos by Burl Rolett.

With plans for a startup incubator and co-working outfit snuffed out, a chunk of Broadway real estate is back on the market.

The founders of Ignitrr have pulled the plug on a planned 9,000-square-foot co-working space, putting a storefront at 445 Broadway back up for lease. Real Estate Revolution brokers Curtis Elliott and Aaron Tajchman are marketing the space.

“I see a retail business going into that space,” Elliott said. “It’s such a great location and a unique space, but we just haven’t found the right combo yet.”

The property is a 9,150-square-foot barrel-roof building with another 9,150 square feet of basement space. Elliott said he’s leasing both the basement and the ground floor as one package at an all-in rate of about $30 per square foot.

He expects that one tenant will take the entire building.

“With the right type of business or the right combo of businesses, it could be divisible,” Elliott said. “But it would have to be something that really goes together well.”

Haritos (left) and Predovich are setting up a shared office space on Broadway. Photo by Burl Rolett.

Haritos (left) and Predovich are setting up a shared office space on Broadway. Photo by Burl Rolett.

The property was an empty, industrial-type building when Ignitrr leased the space in December 2014. Ignitrr planned to build a shared office space that also offered members mentorship programs taught by business veterans.

In an email exchange, Ignitrr co-founder Brock Predovich said he and partner Dean Haritos pulled the plug on the project in September after unforeseen construction delays drained their capital at a rate of about $20,000 a month.

While Ignitrr is giving up on the brick-and-mortar office development, Predovich said he’s working on an online mentorship program similar to the one he hoped to offer at the Ignitrr office building.

Ignitrr will fill a 9,000-square-foot industrial building.

Ignitrr is giving back a 9,000-square-foot industrial building.

445 Broadway is back on the market. Photos by Burl Rolett.

445…

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