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Ikea’s Parent Eyes $260M San Francisco Project

by cpexecutive.com posted 2weeks ago 19 views
Ingka Centres plans to transform the 6X6 retail property into its first mixed-use shopping center in the U.S.: Just one year after TMG Partners and Alexandria Real Estate Equities acquired 6X6 in San Francisco, the joint venture partners have sold the 250,000-square-foot, cutting-edge retail asset to Netherlands-based Ingka Centres, a division of Ingka Group that owns most IKEA stores worldwide. With a $260 million investment, including the acquisition and redevelopment of the asset, Ingka Centres will transform 6X6 into its first mixed-use shopping center in the U.S., anchored by sister company IKEA.

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