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January 24, 2012

Clarion pays $31M for shopping center

By JOURNAL STAFF

COVINGTON — Clarion Partners acquired a 32-acre shopping center called Covington Esplanade for nearly $31.3 million.

“This is meant to be a fairly unexciting, core, delivers-the-cash-flow investment,” said Steve Latimer, who heads Clarion's Puget Sound operations. Clarion likes the demographics and growth potential in Covington, which Latimer said has relatively high barriers to entry for new development.


 
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