The Burn first learned about IKEA’s interest in a local location back in February. Multiple sources told us discussions were underway, but since no one would confirm it on-the-record and no deal is apparently signed, we held off reporting it.
However, word is starting to leak. Managers of stores at other developments in the area are being told IKEA is in the works. Local politicians confirm they’ve heard about it.
Most telling, a recent map of the Kincora project shows a 350,000 s.f. anchor store at the site. Folks, we can tell you, there aren’t many stores that need 350,000 s.f. besides IKEA.
Again, it’s important to stress — our understanding is that no deal is signed, and it’s unclear if discussions are still underway or if they have ended. This all means it very well might not happen. Many deals are discussed that never come to fruition.
The Burn reached out to Kincora reps this morning and they declined to respond.