Tuesday, November 24, 2015

Ikea Set to Open Fall 2016

Posted By on Tue, Nov 24, 2015 at 10:37 AM

architectural_rendering_of_proposed_ikea_memphis_could_open_.jpg

Ikea is set to open its $65 million store here next fall.

The Swedish retailer said Tuesday morning it expects to break ground on the project next month. Ikea said it hired Linkous Construction Co. to build the store on 35 acres behind Costco on Germantown Parkway.

“With a contractor onboard, plans can proceed towards opening the future Ikea Memphis,” said Lars Petersson, Ikea U.S. president. “This store will provide a more convenient Ikea shopping experience for current and potential customers throughout Tennessee and the Mid-South, growing our Ikea presence in the Southeastern U.S.”

Ikea said the 271,000-square-foot Memphis store will have nearly 10,000 items, 50 room settings, and three model home interiors. It will also have a 350-seat restaurant serving Swedish specialties like salmon plates and the store’s iconic meatball dish.

The store will also include a “Children’s Ikea” section in the showroom, baby care rooms, and play areas throughout the store.

The news comes after Ikea secured a deal with the Memphis and Shelby County Economic Development Growth Engine (EDGE) last week to extend its tax break deal, offsetting $1.2 million more in taxes.

That deal was struck after Shelby County Assessor Cheyenne Johnson re-evaluated the land Ikea purchased for the store, increasing the store project’s total price tag by $1.2 million.

Negotiations between Johnson’s office and the retailer delayed the project by many months.


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