UPDATED: MARCH 8, 2016 1:22 PM — Target Corp. is preparing some of its ample space off Oviedo Mall Boulevard for a retail or dining outparcel as large a 6,600 square feet, with the big box retailer having asked $1.6 million for the 1.3-acre parcel.
The final price for the land, which is freshly under contract, is unknown, along with who the potential buyer is and what use they intend. The land is undeveloped, and may require an architect, general contractor and subcontractors later this year.
Suzanne Hayes Washburn, CBRE broker handling the deal, would only say the property is under contract. A representative at Minneapolis-based Target declined to comment.
Epic Developmentof Clearwater is acting as the project's applicant, and did not respond to calls for comment. CPH Engineers is civil engineer on the project.
The outparcel for sale fronts Red Bug Lake Road, on the northwest corner of South S.R. 417.
The area is densely retailed, so the Target parcel could be a way of entry for a new restaurant or retailer to get a foothold in a high traffic area.
One possibility is a restaurant, given informational comments Seminole County planners have made to Target's agents about requirements for food service establishments and grease traps.