Grover Geiselman Of Living Spaces Acquires Former Ikea Showroom In Cordova For $22M

The property involved in the transaction is located at 7900 Ikea Way in Cordova, TN. It comprises 29.4 acres, with a total square footage of 271,150. The sale price for this retail asset was $22 million, reflecting a price per square foot of $81.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $22,000,000
• Address: 7900 Ikea Way
• Market: Cordova, TN
• Acres: 29.4
• Square Footage: 271,150
• Price per Square Foot: $81
• Buyer: Grover Geiselman - Living Spaces
• Seller: Juvencio Maeztu - IKEA
• Brokers: Stephanie Allen & Thomas Flynn - CBRE
• Brokers: Danny Buring, Lynn De Marco, Robert Sloan & Jon Isbell - The Shopping Center Group

Living Spaces intends to convert the property into its first store in Tennessee. The transaction was facilitated by brokers from both The Shopping Center Group and CBRE, who represented the buyer and seller in the deal.