REBusinessOnline

IKEA ACQUIRES FLORIDA LAND FOR $31.5M

SWEETWATER, FLA. — Swedish home furnishings retailer IKEA has purchased a 14.6-acre land parcel fronting Florida’s Turnpike adjacent to the Dolphin Mall in Sweetwater for $31.5 million. The retailer is proposing to build a 417,000-square-foot store that would open as early as fall 2014 atop a two-level parking garage with 1,500 spaces. South Florida’s first IKEA store opened in 2007 in Sunrise, Fla. IKEA stores are also located in Orlando, Fla., and Tampa, Fla. Procacci Development Corp. sold the 14.6-acre Sweetwater land parcel to IKEA.

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