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Cary officials say IKEA not coming after all

(WCTI photo)

Cary town officials said Wednesday that Swedish furniture giant IKEA will not put a store in Cary after all.

Cary Town Manager Sean R. Stegall tweeted that "because of IKEA's evolving business model, there will be no store in Cary."

The iconic furniture seller has changed strategy and is looking to push into new markets, such as India and into South America while developing smaller-format stores in cities such as London and Tokyo.

The IKEA was expected to revitalize Cary Towne Center.

"We are obviously very disappointed," Stegall said.

Stegall said he got the news Friday morning from IKEA's real estate manager, Bob Grimsley.

IKEA is moving away from suburban big-box retail into global city centers, Stegall said in a statement.

"We are thankful that the decision came before the store was built and people were employed there. And the timing also gives the mall's owners, CBL, an incredible opportunity to reimagine the entire site and the future of this part of the Eastern Cary Gateway," the Town said in a statement.

Construction was expected to begin in 2019 and the store was slated to open as early as 2020.

"When I asked whether there was anything Cary could do to influence IKEA's decision, I was told that there was nothing; not even an incentive would make a difference," Stegall wrote. "IKEA said they had an extremely positive view of and experience with the Town Council, our staff, the mall site, and Cary as a whole.

CLICK HERE to read more at WTVD

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