A consortium of international investors led by reclusive Orlandobillionaire Joseph C. Lewis paid an estimated $10 million or about$4.36 million per acre ($100 per sf) for the prime site. Thetransaction hasn't been recorded at the Orange County real estateoffice but principals in the deal confirm the purchase but not theprice.

They say a decision on the site's highest and best use will bemade over the next 12 months. The entire block, about the size of1.25 football fields, will be razed to make room for a newenterprise, legal and real estate sources familiar with the dealtell GlobeSt.com.

A major department store is what city officials dream of toreplace the former F.W. Woolworth and McCrory's stores thatanchored the property from the 1950s through the 1980s. New officestructures are out since the city already has three towers totalingone million sf either operating or opening their doors withinmonths. Multi-screen movie houses are also at the low end of thepecking order.