IKEA Parent Company Launches Event Space in San Francisco

A Swedish-linked firm is looking to brighten up downtown San Francisco.

Ingka Centres, the Netherlands-based parent company of IKEA that operates locations around the world, is gearing up to open “L4,” a flexible event venue at its building on a critical stretch of Market Street, the San Francisco Chronicle reported. The space spans 3,900 square feet and has capacity for 250 guests.

Ingka Centres purchased a vacant 250,000-square-foot mall at 945 Market Street in 2020. Last year, it completed the transformation of the six-story property into San Francisco’s first IKEA store. The outpost came with a 46,000-square-foot co-working space on the fifth floor known as Hej!Workshop and a multi-level food-hall called Saluhall.

L4 is part of Ingka Centres’ plan to create a so-called mixed-use meeting place in downtown. When Ingka’s work on the building is complete, the property will offer a mix of retail, office and entertainment options. The third floor of the building is vacant, while the fourth floor is closed to the public and mainly used for IKEA’s offices.

The food hall hosted 11 vendors when it launched, and several other restaurant spaces on the second floor of the venue are available.

Ingka Centres is hopeful that its revamp of a blighted Market Street property will work in tandem with other similar projects to help revive foot traffic on the corridor. This includes renovations across the street at 934 Market, slated to house a long-awaited Jollibee location, the latest opening of a Ross Dress For Less at 901 Market, and Uniqlo’s announcement that it’s returning to the city at 801 Market.

The 945 Market building is “about contributing to the development of downtown San Francisco, with community at the center,” said Miia Kautovaara of Ingka Centres. The company has been “focused on creating a place where people feel welcome, where they can gather, connect and experience something new,” all while “staying flexible, listening closely to its neighbors and building strong local partnerships.”

— Chris Malone Méndez