A joint partnership between Jumbo Capital Management LLC, a privately held commercial real estate firm specializing in office space, and real estate investment firm Guggenheim Real Estate LLC has acquired a warehouse in Norwood, Mass., for $6 million that it intends to convert to self-storage. The facility will be Jumbo’s first foray into the self-storage market.

“Jumbo is enthusiastic about this latest transaction and excited about the challenge of a new asset class,” said Jay Hirsh, managing partner of Jumbo Capital. “We were able to capitalize on our relationships and knowledge of the market to procure this ideally located facility, and we look forward to investing in Norwood.”

The building at 1450 Providence Highway, which formerly operated as The Rug Dept., comprises 116,000 square feet of space. Jumbo Capital affiliate Jumbo Self Storage will oversee the redevelopment. Once renovated, the property will include 1,050 climate-controlled units, according to the source. The storage facility is expected to open in March.

Jumbo Capital has acquired more than $130 million in real estate in 2015, totaling nearly 800,000 square feet, the source reported. Its recent acquisitions include 100 Crosby Drive in Bedford, Mass.,150 Royall St. in Canton, Mass., and 1900 Crown Colony Drive in Quincy, Mass., where the company is based. In total, Jumbo Capital owns 18 properties totaling more than 2 million square feet in Greater Boston.

Boston-based Guggenheim manages $1.3 billion in assets for institutional investors.

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