TSCG Helps Broker Sale of Former IKEA Property to Retailer Entering Memphis Market

TSCG was part of the brokerage team that sold the former IKEA property at 7900 IKEA Way in Cordova, Tennessee, to a retailer entering the Memphis market. The buyer has not yet been identified.

The 271,150-square-foot building sits on approximately 29.3 acres. IKEA closed the store, its only Tennessee location, in May and listed the property for sale in June.

Danny Buring, Robert Sloan and Jon Isbell of TSCG represented IKEA locally alongside Lynn De Marco of TSCG’s New York office. Stan Myers of JLL represented the buyer.

“We were part of a team that co-listed and sold the former IKEA at 7900 IKEA Way this week,” Buring told The Daily Memphian. He described the transaction as a smooth collaboration among the brokers and their clients.

“All the brokers and the respective clients were very professional, and I hope every transaction we work on in the future can be this smooth,” Buring said. “I am not 100% sure, but I am guessing this is the largest sale of a single-tenant retail box in Memphis.”

Details about the retailer’s plans for the property have not been announced.

Additional press can be found on The Daily Memphian