FRAMINGHAM, MA (August 4, 2026) — Calare Properties (Calare) today announced the sale of 1 Wesley Street in Malden. The approximately 103,300-square-foot property includes a fully renovated self-storage facility, a fully leased industrial warehouse building, and a retail kiosk. Calare and Equity Resource Investments (ERI) were JV partners on the investment since its purchase in 2024.
“When we acquired 1 Wesley Street, we saw a self-storage facility that hadn’t kept pace with the market, paired with a vacant but very functional industrial warehouse building,” said Michael Sullivan, Senior Associate of Investments at Calare Properties. “Repositioning the storage component and bringing the site up to institutional standards is exactly the kind of value-add opportunity we look for, and it’s what made this an attractive asset for the buyer.”
Calare’s improvement program included replacement of the roof and HVAC system, renovations to the lobby and office, and the addition of an ADA-compliant entrance, among other enhancements across the site.
The self-storage facility, previously operated under a legacy local brand, is now managed under Extra Space Storage, a national manager of self-storage facilities. The facility features 717 climate-controlled units across nearly 74,800 square feet.
The property also includes an approximately 25,100-square-foot warehouse, which was recently leased on a triple-net basis to UniUni, a Vancouver-based logistics company, and a drive-up retail kiosk occupied by Rocky Mountain Spring Water.
“Self-storage demand across greater Boston remains strong, and a newly repositioned facility paired with leased industrial income is exactly the kind of asset institutional buyers are competing for right now,” added Todd Barclay, co-CIO of Calare.
The property sits on 4.65 acres on the Malden/Revere border near Route 1 and provides a large fully lit parking field (6.6/1,000 sf parking ratio). The property is visible from the highway, with convenient access to Boston and the surrounding market.
Nathan Coe, Gabriel Coe, and Brett Hatcher of Marcus & Millichap, in collaboration with Thomas Shihadeh, the firm’s broker of record in Massachusetts, represented Calare and procured the buyer.
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About Calare Properties
Calare Properties is a private real estate manager and operator focused on acquiring warehouse, manufacturing, research, retail, and flex/office commercial real estate for the economic benefit of our investors and strategic partners. Since the firm’s inception in 2003, Calare has led the acquisition of over 20 million sq. ft. of properties representing $1.2 billion in transactions through funds, direct deals and a multi-asset portfolio. Further information is available on our website www.calare.com.
MEDIA CONTACT
Meghan Segien
Calare Properties
msegien@calare.com
978-307-0303