The old IKEA building near Germantown Pkwy and I-40 could be getting a second life soon, as the California-based furniture retailer Living Spaces bought the 271,150 square-foot property last month for $22 million.
Additionally, Studio8 Architecture & Interiors filed for an $8.1 million permit to renovate the building, and the Memphis & Shelby County Division of Planning & Development approved changing the site’s former street name from IKEA Way to Cordova Market Drive during their latest meeting Tuesday.
Interestingly, Living Spaces had previously considered building a store in Cordova in 2021 on 26.6 acres at 7260 Goodlett Farms Pkwy, but this proposal never came to fruition.
Further details on Living Spaces’ current plans for the former IKEA building are unclear at this time, but what is clear is that this renovation would make it the company’s first location in the Volunteer State.
