TOWN AND COUNTRY, MO-Ramco-Gershenson PropertiesTrust, based in Farmington Hills, MI, recently bought theTown and Country Crossing retail center here for $37.8 million. The282,000-square-foot property, anchored by a Whole Foods market andshadow-anchored by a Target, shows how well grocery-anchored retailis faring in today’s volatile retail sector.

A group of investors built the center in 2008, includingPhiladelphia-based Amerimar Enterprises Inc., St.Louis-based Emerald Properties Group and NewYork-based Angelo Gordon & Co. A specialtaxing district was created during the development to finance morethan $10.5 million in roadway improvements around the center.

The property, at the southwest corner of Woods Mill and Claytonroads, is 81% leased, and includes other tenants Five Guys Burgers,FedEx, PNC Bank, Qdoba Mexican Grill, Sprint and Verizon. This isthe second St. Louis center purchased by the trust, which boughtHeritage Place for $39.4 million from PaceProperties in May.