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Calare sells Malden, Mass. Wesley Street CRE asset with storage and warehouse
The roughly 103,300-square-foot site includes a self-storage facility now managed by Extra Space Storage and a warehouse leased triple-net to UniUni, plus a retail kiosk occupied by Rocky Mountain Spring Water.
Calare Properties has completed the sale of 1 Wesley Street in Malden, Massachusetts, a roughly 103,300-square-foot commercial property that combines a repositioned self-storage component with an industrial warehouse and a retail kiosk, according to ConnectCRE.
The deal involved Calare and Equity Resource Investments as joint venture partners, with the investment dating back to its purchase in 2024. The self-storage facility was previously operated under a legacy local brand and has been brought up to institutional standards as part of the repositioning.
ConnectCRE reports that the storage facility is now managed under Extra Space Storage. The property’s approximately 25,100-square-foot warehouse was recently leased on a triple-net basis to UniUni, and the drive-up retail kiosk is occupied by Rocky Mountain Spring Water.
Marcus & Millichap, including Nathan Coe, Gabriel Coe, and Brett Hatcher with Thomas Shihadeh as broker of record in Massachusetts, represented Calare and procured the buyer.