The close proximity of the locations is causing some residents and brokers to see an overkill strategy on the local retail market by Wal-Mart, according to a published report. Construction is expected to begin by first quarter 2004 on both stores.

Wal-Mart officials couldn't be reached at the store's headquarters in Bentonville, AR to learn the cost of the projects. But area construction industry estimators familiar with past Wal-Mart ventures tell GlobeSt.com the retailer could build the stores for about $50 per sf or a total $11.25 million for each location.

At Cagan Crossings, the newest Wal-Mart store will complement 700,000 sf of planned commercial and 8,000 apartments, condominiums and townhomes. About 1,000 homes have been built to date, says developer Isadore Cagan, president of Orlando-based Cagan Management. Wal-Mart has existing north Lake County supercenters in Mount Dora, FL and Leesburg, FL, both about 25 miles north of the two planned new stores.