Target Buys 22 Acres Near Millenia Site for 175,000-SF Superstore

ORLANDO-Target has purchased a 22-acre site at the intersection of Millenia Mall Boulevard and Conroy Road in an $8.7-million deal. The big-box retailer is planning to build a 174,000-SF Super Target on the parcel.

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.