Forte Real Estate Partners vice presidents Nancy Powell and John Young listed and sold a Hugo, Minnesota, property that included four office and industrial buildings and nearly 19 acres of land available for outdoor storage for $4.6 million.
The Highway 61 property received considerable interest from buyers due to its size, multiple property uses, outdoor storage and additional land.
The seller, Lametti & Sons, decided to scale back its sanitary tunneling and water pipelines business and wanted to list the property for sale. The company hired Forte’s team to advise it to determine the highest and best use for the unique property and identify prospective buyers.
The buyer, Bradley Investments Forest Blvd. LLC from Eagan, Minnesota, intends to use the property to round out its metro coverage by adding this northeast metro location. Its business, Dart Portable Storage Inc., intends to keep it in much the same condition.
