11/21/2012 09:27 am ET

IKEA Closes On Property For New Miami-Dade Store

More affordable furnishing options are coming to South Florida.

Iconic Swedish giant IKEA closed on the $31.5 million purchase of land to build a megastore adjacent to the Dolphin Mall and west of Doral, the South Florida Business Journal reports.

The Swedish big box retailer plans to construct a 417,000-square-foot store on the 15-acre site near the Palmetto Expressway and Florida's Turnpike.

Miami's first IKEA will be the first in Miami-Dade and the fourth in Florida. Other Florida locations include Sunrise, Orlando, and Tampa.

The company recently came under fire for recent claims its suppliers used forced labor in Cold War Germany. A company spokesman copped to the allegations, saying they "deeply regret" failing to vet providers.

The property was sold by Procacci Development Group. IKEA is one of the largest furniture companies in the world, selling ready-to-assembly desks, beds, and other home accessories.