Aftert a few months on the market following the closure of IKEA in Cordova, the building has been purchased.
There has not been any confirmation on who purchased the enormous warehouse space, spanning over 270,000 square feet, or what the building will be used for, however the agents involved in the transaction indicated it was sold to a retailer that is currently not in the Memphis market.
After the closure in May, IKEA Property Inc. listed the building in June. CBRE listed the property for industrial use. Danny Buring with TSCG represented IKEA locally, said of the buyer, “I am not 100% sure, but I am guessing this is the largest sale of a single tenant retail box in Memphis.”
