Burbank has initiated a series of funding deals to keep IKEA — a top sales-tax revenue generator — within city limits.
The Swedish furniture retailer — a retail powerhouse in Burbank for more than two decades — has outgrown its current building has been looking for about a decade to expand its operations, said IKEA spokesman Joseph Roth.
“Parking is challenging, the loading zone is challenging, the store itself is too small,” he said.
The retailer already has its eye on a property — located at 805 South San Fernando Boulevard — that is twice the size of its current location, but it’s occupied by Western Studio Service and a number of office tenants.
The owners of Crown Realty and Development are willing to sell the property to the retailer provided it can acquire the current IKEA building.
“We are very excited about this opportunity and are optimistic about staying in Burbank for the long term,” Roth said, adding, “At this point, we haven’t committed to anything yet.”