Former IKEA Property in Cordova Sold to Mystery Retailer

The former IKEA store in Cordova has sold to a national retailer preparing to enter the Memphis market. Danny Buring of TSCG, which represented the seller, confirmed that the transaction closed Monday. The buyer has requested that its identity remain confidential.

The approximately 271,000-square-foot showroom and warehouse occupies a 29-acre site near Germantown Parkway and Interstate 40. At the time of reporting, the sale price had not appeared in public records. The county’s appraisal valued the property at $45.9 million this year.

IKEA permanently closed the location on May 3 after nearly a decade of operation. The store opened in December 2016 as Tennessee’s first and only IKEA and the company’s 43rd U.S. location.

The property’s street address, previously named IKEA Way, has since changed. Further details about the buyer’s plans have not been disclosed.

The largest single retail store in the United States is a two-story, 260,000-square-foot Walmart in Albany, N.Y. The former IKEA building in Memphis is larger by 10,000 square feet.

Additional press can be found on News Channel 3, WREG.com, Action News 5, and Commercial Appeal