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JOLIET, IL-Ikea has signed a contract to purchase 72 acres inthe 352-acre Laraway Crossings Business Park, an industrial anddistribution park at Route 53 and Laraway Road. Ikea is purchasingthe property from Ryan Cos., the developer of the park. Ikea willconstruct a 650,000-sf facility that will open as early as spring2009 and may expand the facility an additional 770,000-sf. Thesales price was not disclosed. The closing will be some time thissummer, says Joseph Roth, director of public affairs for Ikea.

The location will be near the CenterPoint Intermodal Center, inElwood, which will make it easier for Ikea to receive product tothe distribution enter by rail, says Tim Hennelly, vice presidentof development at Minneapolis-based Ryan Cos. Ikea thought theJoliet location would allow them to be close to the rail center andwould also allow them to have easy access to Interstate 80.