Spencer Bomar, a vice president in Staubach Retail Services' Atlanta office represented Target in the purchase. Seller Millenia Collection Ventures LLC was self-represented. Ground is expected to break as early as next month and the store should open in the summer of 2003. Bomar says the Target project is a "flagship deal" in a "very high-end trade area with incredible exposure" to major traffic routes.

Millenia Collection principal and well-known Orlando developer Toby Hardy bought the Target Parcel from Orlando Southwest Partners, a joint venture of Orlando-based Schrimsher & Rife Properties and Jones Lang LaSalle of Chicago. Orlando Southwest is the owner/landowner of the Millenia project, a planned 400-acre, five million-sf mixed-use development. Target later bought the parcel from Hardy and the new store will be located about a quarter mile north of the under-construction Mall at Millenia, which is located on the Millenia mega-site and is expected to open in October.

Hardy also bought a second parcel, a roughly 175,000-sf parcel situated just east of the mall site where he is planning a major lifestyle center, Staubach's Bomar tells GlobeSt.com. "There will be a street walk, boutiques, furniture stores and large high-end restaurants."