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ST. LOUIS — Taubman has closed on its purchase of a 50-acre parcel near the Boone's Crossing exit off Highway 40 in St. Louis. The company plans to develop a 450,000-square-foot retail center on the site that will include approximately 65 stores. More than 40 retailers have already committed to space including Banana Republic Factory Store, Gap Outlet, J. Crew Factory and Furla. David Biales and John Langa of Jones Lang LaSalle represented Taubman in the transaction. The company also recently broke ground on the project, which is expected to be complete in the fourth quarter of 2013.