Fargo Retail Building Acquisition to Support Expansion

The purchase of two downtown buildings will allow Stabo Scandinavian Imports to grow its retail footprint in January 2027.

Updated on Oct. 24, 2026 in Openings & Closings

Bold flat-color editorial illustration of an ornamental historic brick building facade, evoking urban retail redevelopment and commercial architectural scale. — Matt and Lindsey Lee will acquire two historic downtown Fargo buildings for $1.5 million to expand their Scandinavian imports retail shop. AI Illustration. Upload story photo >

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Matt and Lindsey Lee are set to acquire the Hancock and Douglass buildings in downtown Fargo for $1.5 million on November 1, 2026. The purchase will facilitate the relocation of Stabo Scandinavian Imports to 109 Broadway N. by January 2027.

Why it matters

The relocation allows for a 50% increase in retail space compared to the current 900-square-foot storefront, helping the shop manage its inventory of 1,800 products more efficiently. The move also secures prime frontage for the business near high-traffic downtown event venues.

The $1.5 million deal covers both the Hancock and Douglass buildings, which were constructed in 1903. The new retail footprint for Stabo Scandinavian Imports will be 1.5 times the size of its current sales floor.

The players

Matt and Lindsey Lee

Local investors who recently acquired ownership of Stabo Scandinavian Imports and downtown commercial real estate.

Stabo Scandinavian Imports

A retail business specializing in imported goods that carries approximately 1,800 different products.

Moonrise Cafe

A food service operator currently conducting business within the Douglass Building.

WalkWise by Drive

A commercial entity currently occupying space on the second floor of the newly purchased buildings.

The details

Operators purchasing historic 1903-era real estate must navigate complex interior reconfigurations. The new owners plan to install an interior wall in the Hancock Building to create distinct retail units, while simultaneously repurposing the third floor into art studio space. This phased renovation strategy requires maintaining current operations for existing tenants like the Moonrise Cafe and WalkWise by Drive during the transition period.

1903: Construction of the Hancock and Douglass buildings.
July 2026: Lindsey Lee acquired Stabo Scandinavian Imports.
November 1, 2026: Official closing date for the building purchase.
January 2027: Planned opening for Stabo Scandinavian Imports at the new location.

Market Landscape

The acquisition reflects a growing trend of long-term investment in Fargo’s historic corridor to modernize vintage storefronts for modern retail requirements. This project updates the utility of properties established during the 1903 construction period of downtown Fargo by integrating studio space with retail.

Operators planning similar real estate expansions should anticipate construction delays when retrofitting properties over 100 years old. Review lease terms and building code requirements for partition walls before committing to a larger floor plan.

The takeaway

The move highlights the importance of matching footprint size to inventory volume for specialized retailers managing large product catalogs. Owners should track renovation costs against projected sales increases when transitioning to historic buildings that require structural modification.