IKEA assembling land for second Colorado store

By: Burl Rolett, BusinessDen

You have to furnish all those brand new Denver apartment buildings somehow.

Swedish retailer IKEA is under contract to buy 123 acres of land in Broomfield, the company announced this week. The company plans is build the area’s second store and develop the leftover real estate for other commercial, retail or residential uses, company spokesman Joseph Roth said.

“We have always seen the Denver area as being able to support at least two stores in the long-term,” Roth said. “Based on the location of the current store, it definitely seemed like going north would be a good complement to be accessible to customers in that area. And it’s far enough away to minimize any sort of customer release from the Centennial store.”

The deal is scheduled to close this fall, Roth said. The site is at the northwest corner of Interstate 25 and East Baseline Road, about 17 miles north of downtown Denver.

IKEA has yet to submit any development plans to the city of Broomfield, and Roth said it will likely take until at least next year to produce any firm plans for the new IKEA store. A company press release said the store wouldn’t open for several years.

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