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IKEA is under contract to acquire 160 acres in McCord Development's Generation Park, bolstering its distribution network in Houston.
IKEA will build at least 1.2M SF in Generation Park, the Houston Business Journal reports.
IKEA's last big move in Houston was leasing 1M SF by the Port of Houston in 2016, an unusual move for a company that typically owns its own space. Though that deal was short — five years with an option to exit early — it was far and away the largest industrial deal of that quarter, and it triggered other distribution deals in the area.
