Ikea announces plans for huge new Burbank store
In a surprise announcement Thursday, Ikea announced plans to go ahead with a new store in Burbank that will be nearly twice the size of its current location.
The new store –- if approved by the city –- would be open in 2016 and be built on 22 acres west of San Fernando Boulevard and south of Providencia Avenue, less than one mile from the current location, according to the company.
"Because of this store's success, we are excited about the opportunity to build upon our established presence in Burbank with a new, roomier store so close to the existing one, and in the same city," Ikea U.S. President Mike Ward said in a statement.
The announcement comes just days after city officials said the state had temporarily squashed a series of deals put in motion by the Burbank City Council last month to keep Ikea within city limits because they involved land owned by the now-defunct Redevelopment Agency. A decision on those deals was not expected until mid-2013.
Meanwhile, Ikea agreed to buy a larger property at 805 S. San Fernando Blvd. from Crown Realty and Development.
As part of the deal, Crown Realty also agreed to buy out the remainder of Ikea's 72-year lease in which the retailer pays no rent for occupying the property.
"This is something most cities would be dying for today, not a lot of retailers are expanding," said Jim O'Neil, executive vice president of Crown Realty.
The current 242,000-square-foot Ikea building -- which opened in 1990 on 6.4 acres to become the first store in California – will remain open while the new, larger version is being constructed.
-- Jason Wells and Alene Tchekmedyian, Times Community News
Photo illustration: A rendering of new Ikea in Burbank that will be nearly twice the size of the current location. Credit: Ikea