An announcement is expected soon about the retailer that will be moving to the old Lynnwood High School property across from Alderwood Mall.

As we reported in April, Cypress Equities was negotiating with a “major tenant.” They signed a deal earlier this week. Some people are wondering if it will be IKEA. The Edmonds School District would neither confirm nor deny the rumor.

However, here’s what we know. Cypress’ list of clients include IKEA, Sears, Target, Coldwater Creek, Ethan Allen and Barnes & Noble. All of those stores already  have Lynnwood locations except IKEA.

Also, the company recently opened a distribution center near Tacoma that would likely be able to support a store in Lynnwood. Right now it supplies stores in the western U.S. and Canada, including the Renton location.

We’ll cover the announcement as soon as it’s made.