IKEA is officially coming to downtown SF in 2021

The vacant shopping center at 945 Market St. that has not once seen a customer in almost five years has a new owner.

Ingka Centres, the mall owner division of IKEA’s parent company, has purchased the mid-Market building, as first reported by The San Francisco Chronicle.

An IKEA store will occupy about 70,000 square feet, while the rest of the space will be leased out to a mix of food, entertainment and other retail tenants, as well as some office space, the company told The Chronicle.

Rent for commercial building in SF is as cheap as suburb?

I read somewhere it’s Ikea’s new retail concept. Will have other entertainment and dining elements within the building, not your typical big box Ikea locations. Also they bought the entire building. People are scooping up commercial real estate deals in the city now.

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Will only be 20% of the average ikea. This should be a game changer for market street.