Windsor retail center sells: $4.75 million

WINDSOR — A local investment group has sold the 3.5-acre retail center that has grown up around the Safeway supermarket in Windsor.
The $4.75 million deal does not include the market, which is owned by Safeway, but transfers the adjacent buildings from SF Properties LLC, an investment group headed by Dale Boehner, to Westminster-based Sidford Capital LLC.
The purchase price for the 23,000 square feet of retail space works out to more than $206 per foot.
“It’s probably the biggest investment transaction we’ve had in Northern Colorado so far in 2005,´ said Ryan Schaeffer, a partner in Loveland commercial real estate firm Chrisland Inc. that listed the property. “The seller did very well, but the buyer did also, recognizing the potential for Windsor and everything that’s going on here.”
Chrisland put the retail center on the market about two months ago, and within 30 days has several full-price offers, Schaeffer said. Demographic studies conducted by Chrisland provide part of the explanation for the attention the listing drew.
The population within a five-mile radius of the center — in other words, all of Windsor — grew at a rate of nearly 10 percent per year during the past decade. More significant, average household income in the same area stands at $87,000, more than 20 percent higher than the Northern Colorado average household income of $72,000.
Major tenants of the center at 1535 Main Street include Washington Mutual, Papa John’s, Mail Boxes Etc. and Subway.
SF Properties completed the sale as part of a 1031 tax deferred exchange. Purchase of an out-of-state property made up the other half of the exchange, Schaeffer said.

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