IKEA plans to build a second Denver-area store in Broomfield, the Swedish home retailer announced Thursday morning.
The mass producer of bed frames, shelves and other trendy furniture has not yet determined the exact time frame for opening the new store, but it will likely be several years, according to a news release.
The global retailer is currently in talks with Broomfield officials who are planning the “Denver Tech Center of the north.”
The city wants to add more than 30 million square feet of commercial and mixed-use development to an area along Interstate 25, said Bo Martinez, director of economic development for the city of Broomfield.
“We’ve been working to try to recruit IKEA and other regional retailers to this area in Broomfield for many years,” Martinez said. “We think they will be a major anchor as it relates to all the development along the north I-25 corridor.”
The new store would be near I-25 and Colorado Highway 7, on an approximately 123-acre parcel of land, 17 miles north of downtown Denver.
“A store in this retail corridor would complement our strong presence established in Centennial and eventually provide customers in the northern part of the Front Range an IKEA store closer to them,” IKEA U.S. president Lars Petersson said in a statement.
IKEA opened its first Colorado store in 2011. The new proposed location is about 30 miles north of that Centennial store.
An IKEA in Broomfield would generate “significant” annual sales and property tax dollars for local governments, the company said. The store would also create about 250 positions in addition the 500 jobs expected during the construction of the building.
IKEA generated $35.7 billion in sales during fiscal 2015 (September 2014 to August 2015). There are currently 42 IKEA stores in the U.S.