CENTENNIAL, CO-With company representatives, local officials and community leaders on-hand, IKEA officially broke ground for its future Denver-area store in Centennial, CO. The 415,000-square-foot IKEA Centennial, with approximately 1,500 parking spaces, will be built on 13.5 acres along the western side of Interstate 25, north of the Park Meadows area, accessible from connections to Dry Creek Road and County Line Road exits.
When it opens, the store will employ approximately 400 coworkers and reflect the same architectural design for which IKEA stores are known worldwide. Also, IKEA Centennial will, according to a statement from the company, be the first IKEA store in the US to incorporate a geothermal component as part of its heating/cooling system, meaning heat will be pumped either from or into the ground, depending on the weather.
“This location will help us to bring our unique family-friendly shopping experience closer to more than 47,000 IKEA customers in Colorado, and to attract new customers from along the Front Range and beyond who value good design, good function and affordable prices,” says Mike Ward, IKEA US president, in a prepared statement. Until IKEA Centennial opens in Fall 2011 as the 38th IKEA store in the US, customers from Colorado and can shop at IKEA stores in Draper, UT and Tempe, AZ, or online.
As GlobeSt.com previously reported in March, IKEA had hired and a site-work permit was already pending for its development at the time. As GlobeSt.com also previous reported, the retailer releaved plans for the Centennial story—the first in the state—in September of 2008.
“We appreciate the reception by officials and community leaders here as we begin construction. It is exciting to see physical progress towards the future IKEA Centennial,” adds Doug Greenholz, IKEA US real estate director, in a prepared statement.
The construction of the IKEA will also result in about 500 construction jobs and will generate tax revenue for local governments and schools, the statement says. There currently are more than 300 IKEA stores in 38 countries, including 37 in the US.
According to a Denver Post article, IKEA will receive up to $18 million in financial invcentives for its new story. The incentive, according to the paper, is structured as a partial rebate on city taxes that IKEA will pay on sales from the store. The paper reported that Centennial officials said that, “Providing an incentive makes sense because high-traffic IKEA stores typically stimulate nearby development of additional home-furnishing stores or other types of retailers.
The future IKEA Centennial will present nearly 10,000 exclusively designed items, three model home interiors, approximately 50 room settings, a supervised children’s play area, and a 500-seat restaurant. Other family-friendly features will include a ‘Children’s IKEA’ area in the showroom, baby care rooms, preferred parking and play areas throughout the store.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
