IKEA moves toward small format Phoenix store opening at Village Square II across from the PV Mall Redevelopment

3/10/2026

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Phoenix Business Journal

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• Subcategory: Retail: Shopping

• Tag: Lease | Strategy

• Additional Filters-Subcategory: Retail: Community Center, Retail: Flooring-Home Décor-Furniture Showroom

• Company: IKEA

Highlights
IKEA set to open its third Phoenix-area location at Village Square II shopping center
The 75,312-square-foot store replaces Hobby Lobby in the North Central Phoenix submarket
Village Square II achieved 100% occupancy as lease rates rose $3 to $5 per square foot