If Zimmerman were parked on the road near the mailboxes past the clubhouse (using the map posted earlier in this thread), Trayvon had to "come towards" him on his way down the street. When I hear Zimmerman say "he's coming towards me," then "he's checking me out", then "he's walking away from me", I see Trayvon walking down the sidewalk or street from the entrance, past Zimmerman's vehicle, and towards the houses beyond.
At some point Zimmerman gets out of his vehicle, Martin notices and runs. Zimmerman gives chase but "loses him", probably because Martin ran around back of the houses, perhaps hiding; the dispatcher tries to get Zimmerman to return to his vehicle, but Zimmerman refuses and tells the dispatcher to have the responding officer call him to get his location instead, ends the call, and continues around behind the houses to search.
Meanwhile Martin, who (according to his telephone friend) thinks he's "lost" his stalker is no longer in a hurry, and is either walking or coming out of his hiding place; Zimmerman catches up to him because he's no longer running, but at some point Martin suddenly notices Zimmerman right behind him as he tells his girlfriend; he challenges Zimmerman, who challenges him right back, and that's it.
