Forte Team Sells 20+ Acres Site in Hugo for $4.6 Million

Forte Vice Presidents Nancy Powell and John Young listed and sold a Hugo property that included four unique office and industrial buildings, and nearly 19 acres of land available for outdoor storage for $4.6 million. The well-located 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 scaleback its sanitary tunneling and water pipelines business and wanted to list the property for sale. They hired Forte’s team to advise them to determine the highest and best use for the unique property and identify prospective buyers.

The buyer, Bradley Investments Forest Blvd. LLC from Eagan, intends to use the property to round out its metro coverage by adding this northeast metro location. Their business, Dart Portable Storage Inc., intends to keep it in much the same condition.

“We were thrilled to be brought to the table to help the seller navigate this market, where a shortage of inventory and high demand persist.  We know that with our guidance, the seller achieved their goal,” said Powell.

“I really relied on the Forte team to lead me to the best possible solution in the sale.  Their knowledge, professionalism and excellent communication skills kept us informed, even when we caused a delay in the timing, they continued to give us the best service.  We are extremely happy with the outcome,” Mario Lametti, owner of Lametti & Sons.