Press Releases
Marcus & Millichap Closes Self-Storage Facility Sale in Boston Suburb
August 05, 2026
MALDEN, Mass., Aug. 5, 2026 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a 717-climate-controlled-unit, 74,795-net-rentable-square-foot Extra Space Storage managed facility in Malden, Massachusetts. The sale includes a 25,095-square-foot triple-net warehouse and a 3,400-square-foot tenant-occupied kiosk.
“This REIT-managed self-storage asset was completely renovated and rebranded in late 2024,” said Nathan Coe, senior managing director investments in Marcus & Millichap’s Columbus office and the lead agent involved. “The strong buyer interest and competitive process was evidence of the continued strength of the self-storage sector, especially for stabilized assets in larger markets such as this. The sellers did a tremendous job taking this asset to institutional investment-grade level. The overall site and the industrial building received upgrades in summer 2025 and the buyer is adding a tremendous asset to their growing portfolio.”
Nathan Coe, Gabriel Coe, and Brett Hatcher, in association with Thomas Shihadeh, Marcus & Millichap’s broker of record in Massachusetts, represented the seller, Calare Properties, and procured the buyer, Hearthfire Holdings.
“The Marcus & Millichap team did an excellent job in managing the sales process to a successful close,” noted Michael Sullivan of Calare Properties. “We are actively looking for new opportunities and look forward to working with them in the future.”
The property is situated on 4.65 acres off U.S. Route 1, less than two miles from Cambridge, approximately seven miles from Downtown Boston. At the time of the sale, the self-storage facility was 90.78% physically occupied and 91.77% economically occupied. The warehouse tenant is UniUni, a Vancouver, Canada-based logistics company.
“This REIT-managed self-storage asset was completely renovated and rebranded in late 2024,” said Nathan Coe, senior managing director investments in Marcus & Millichap’s Columbus office and the lead agent involved. “The strong buyer interest and competitive process was evidence of the continued strength of the self-storage sector, especially for stabilized assets in larger markets such as this. The sellers did a tremendous job taking this asset to institutional investment-grade level. The overall site and the industrial building received upgrades in summer 2025 and the buyer is adding a tremendous asset to their growing portfolio.”
Nathan Coe, Gabriel Coe, and Brett Hatcher, in association with Thomas Shihadeh, Marcus & Millichap’s broker of record in Massachusetts, represented the seller, Calare Properties, and procured the buyer, Hearthfire Holdings.
“The Marcus & Millichap team did an excellent job in managing the sales process to a successful close,” noted Michael Sullivan of Calare Properties. “We are actively looking for new opportunities and look forward to working with them in the future.”
The property is situated on 4.65 acres off U.S. Route 1, less than two miles from Cambridge, approximately seven miles from Downtown Boston. At the time of the sale, the self-storage facility was 90.78% physically occupied and 91.77% economically occupied. The warehouse tenant is UniUni, a Vancouver, Canada-based logistics company.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
