The Target by Oviedo Marketplaceis carving out some of its land to sell to a retailer that will operate separately from the big box store.
Target, which has 12 acres at the 820 Oviedo Mall Blvd. address, will sell 1.1 acres to house a 6,650-square-foot establishment.
The name of the retailer and the price Target will charge is not yet being disclosed, but the new store will join an area rich with retail.
Oviedo Marketplace has Macy's, Dillard's and Sears as its anchors. Nearby retailers include TJ Maxx, Ross Stores, Lowe's and Chili's.
Target is "carving out an outparcel of their parking lot," to create room for the store, said Andrew Hupp, head of developer Hupp Realty of Clearwater.
Hupp said it was "too early in the process," to disclose specifics, such as the name of the coming retailer.
The store will in no way be related to Target, Hupp said.
A Target spokeswoman did not respond to a request for comment.
Not even Seminole County, which is reviewing Hupp's application for the outparcel, knows the store's identity.
"At this time the only thing known about the proposed establishment is that it is retail, which is permitted," said Joy Giles, senior planner with Seminole County government. The type of retail company "does not play a role … as long as the use is permitted," Giles said.
Target is doing what some other retailers do after settling in with a lot of indoor and outdoor space. They lease or sell off pieces to improve scale.
Retailers may also act to put their real estate to work when they find that fewer customers require less operational space.