IKEA’s shopping plazas business has made its first U.S land procurement, purchasing the 6X6 shopping center in San Francisco, subsequent to telling Reuters in May it was occupied with a few arrangements for downtown acquisitions in the United States.
It purchased the 6X6 shopping center from Alexandria Real Estate Equities Inc and TMG Partners, an Ingka Centers representative said.
“We will be sharing subtleties of our energizing designs for the 6×6 property, where IKEA Retail U.S. will assume a vital function, sooner rather than later,” the organization said in a messaged articulation.
Ingka Centers is one of the world’s greatest shopping center proprietors, with 45 across Europe, Russia and China, each tied down by an IKEA store. With the furniture retailer, it is moving its concentration towards downtown area from away areas.
It said in May that areas in New York, Los Angeles, San Francisco and Chicago were high on its list of things to get.
Ingka Centers, a division of Ingka Group which possesses most IKEA stores around the world, had a leasable zone of 4 million square-meters worldwide and 480 million individual visits in the year through August 2019.
In the United States, it will be taking on shopping center goliaths, for example, Simon Property Group (SPG.N), General Growth Properties (BPY.O) and Westfield (URW.AS).
In January, it made its first obtaining of a current shopping center area, purchasing Kings Mall in London.