Ikea finalizes land purchase for Broomfield store

BROOMFIELD — Swedish home-furnishings retailer Ikea backed up its announced plans for a Broomfield store by closing last week on the $11.25 million purchase of the land at the northwest corner of Interstate 25 and Colorado Highway 7.

The move, Ikea spokesman Joseph Roth said Thursday, doesn’t accelerate or establish any sort of timeline for breaking ground or opening a store at the roughly 120-acre site. Ikea officials, when they announced their intentions in early August, didn’t commit to a timetable, though Broomfield mayor Randy Ahrens told BizWest at the time that he anticipates a 2018 or 2019 opening.

“(The purchase) just shows we were serious and continue to be serious and committed toward this vision for a second Denver-area store in Broomfield,” Roth said.

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Roth said Ikea officials don’t anticipate submitting any sort of development plans with the city any time soon. The land, which was sold by an affiliate of Greenwood Village-based Alberta Development Partners, had already been platted into 18 parcels. Alberta, more than a decade ago, had planned a $275 million retail center at the site called Northlands that never came to fruition.

Ikea’s typical store site occupies 25 to 35 acres. The retailer’s plan in Broomfield is to build its own store and then likely sell off other parcels to other retailers. But until Ikea plans out where it decides to build and makes a formal submittal to the city, he said, it’s unlikely that any other retail activity would begin taking shape.