Helping IKEA Break Ground in Portland
IKEA, a Swedish-based company, is one of the largest home funishing retailers in the world, with 235 stores in 34 countries. IKEA has opened over 20 new stores around the globe in the past two years. When they decided to expand to the Portland Metropolitan area, they turned to Tonkon Torp for help in securing the land and obtaining the necessary approvals for a 285,000 square foot store near the Portland International Airport.
Over a two year period, Tonkon Torp's real estate attorneys assisted IKEA in negotiating and documenting an extremely complicated transaction which involved the FAA, the Port of Portland, the Portland Development Commission, the City of Portland, the State of Oregon Highway Department, and the real estate departments of Bechtel and Trammell Crow. IKEA is now under construction on the new store, which is scheduled to open in August, 2007.
Because of the successful resolution of the Portland transaction, IKEA has retained Tonkon Torp's representation for its next land acquisition and construction project in the Northwest, a new distribution facility in Tacoma, Washington. The new distribution facility will be approximately 1,100,000 square feet in size and will be located on 66 acres.
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