Does IKEA do smaller-format stores anywhere? Even the "small" (relatively) IKEA in Memphis, TN is still a 270,000 square foot space-- close to double the footprint of the Costco next door, and two stories in a good chunk of the building.
It seems to me like it would be hard to scale an IKEA down-- the showroom side needs to be large because assembled furniture is large, and the warehouse side also needs to be large to stock everything (unless IKEA changes up their business model to do everything by delivery, but then they've lost their big distinction from all the other furniture stores around).