It's official: Ikea buys 21 acres for St. Louis store

Swedish retailer Ikea has officially purchased land for its first store in the Show-Me State.

While construction is expected to be complete this fall on Ikea's new Kansas City location, the megastore is being constructed in Merriam, Kan., just over the border.

The St. Louis Business Journal reports Ikea has purchased 21 acres at the southwest corner of Forest Park Parkway and Vandeventer Avenue in St. Louis from SLLC Real Estate, or Cortex, in a deal that closed in mid-May. Ikea paid $30 million for the land.

The planned 380,000-square-foot store will cost $50 million to build, in addition to the $30 million land investment, and the company plans to break ground later this month.

The store is slated to open in fall 2015.

Read more from the St. Louis Business Journal.