A Landmark Memphis Property Is Ready for Its Next Chapter

The former IKEA property in Cordova is officially on the market, just two months after the retailer permanently closed its Memphis-area store.

The location on IKEA Way, just off Germantown Parkway, ceased operations on May 3 after nearly a decade in business, leaving Tennessee without a physical IKEA location.

The 271,000-square-foot showroom and warehouse, situated on approximately 29 acres, is being marketed for sale by CBRE and TSCG.

The offering also includes a 108-foot billboard and three Interstate 40 sign panels, providing prominent visibility along one of the region’s busiest transportation corridors.

An asking price has not been publicly disclosed. According to the Shelby County Assessor, the property and land have an appraised value of approximately $45.9 million.

The property listing can be found here.