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."

The Millenia Mall, which is a co-development of Taubman Centers Inc. of Bloomfield Hills, MI and Forbes Co. of Detroit, is tagged at $250 million and will occupy 1.3 million sf at Millenia. It will be anchored by Bloomingdale's, Macy's and Neiman Marcus. New tenants, revealed last month, include Kenneth Cole, Oilily, Brighton Collectibles, Na Hoku, Brooks Shoes for Kids and Benetton.