IKEA closes on land for new store near San Antonio, prepares to start construction

IKEA last week completed its acquisition of 30 acres in Live Oak, about 15 miles northeast of downtown San Antonio, where construction will begin soon on a 111-acre shopping center with the Swedish furniture retailer as anchor tenant.

IKEA closed on its plot on Dec. 5, according to deeds records. The plot was bought by an entity called LOTC Holdings Ltd. and was last assessed by the Bexar County Appraisal District at $4.2 million.

Construction of IKEA’s 300,000-square-foot store is scheduled to begin in March. The estimated $30 million project is expected to be completed in March 2019 and will be designed by Ohio-based architecture firm WD Partners, according to construction documents.

Click to read more at Austin Business Journal.