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BETHESDA, MD-IKEA, the Swedish furniture store, said it will build a new 340,000-sf store in College Park, MD. The project will be constructed on 45 acres, which is the result of the store acquiring four adjacent parcels. Ray Whalen and Kathy Reitz of Transwestern Commercial Services represented IKEA in the parcel acquisition strategy along with Fidelity Commercial Services of Philadelphia.

The site of the planned store is along Route 1, at Interstate 95, and includes a parcel of 6.95 acres sold to IKEA from Marriott International. The store would be IKEA’s third and largest store in the region. Construction is planned to begin in the spring of 2002, and the store is set to open in 2003. Additional mixed-use zoning on the parcel will allow IKEA to develop office space and restaurants in later phases of the development process.

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