King County Records show that Fairwood Shopping Center’s former owner, Terramar Retail Centers, recently sold Covington Square shopping center for almost $42.3 million. Covington Square is located near Costco and includes tenants Safeway, Pier I Imports, and Dollar Tree.
The buyer is DS Covington Square LLC, connected to Donahue Schriber of Costa Mesa, CA. Locally, this private group acquired Maple Valley’s Four Corners shopping center in 2012. They reportedly also own shopping centers in Auburn, Tacoma, and Seattle’s Interbay/Magnolia neighborhood.
Earlier this year, Terramar sold Fairwood Shopping Center for $77.5 million.