The Southfield, MI-based REIT paid River Crossing Partnership $7.15 million or $115.32 per sf for the 100%-leased property, 20 miles north of Tampa and 80 miles west of Downtown Orlando. Publix Supermarkets Inc. of Lakeland, FL anchors the center with a 38,000-sf store on the northeast corner of River Crossing Boulevard and Little Road.

"Publix at River Crossing fits nicely into our acquisition plan," says REIT president and CEO Dennis Gershenson. "It is anchored by one of the most desirable supermarkets in the state of Florida; is well-located; and is in close proximity to a number of our existing assets, which will promote management cost efficiencies."

Besides Publix, the center has 14 smaller leased spaces. In addition to its community center assets, Ramco-Gershenson's portfolio includes nine power centers, three single-tenant properties and one enclosed regional mall.