A partnership of Jumbo Capital Management LLC and Guggenheim Real Estate LLC has acquired a storage facility in Norwood for $6 million.

The 116,000 square-foot storage facility is located at 1450 Providence Highway.

Affiliate Jumbo Self Storage will undertake an extensive redevelopment of the building into a new, climate-controlled, 1,050-unit self-storage facility expected to open in March.

Quincy-based Jumbo Capital Management has acquired more than $130 million of real estate in 2015, totaling nearly 800,000 square feet. Recent acquisitions include 150 Royall St. in Canton, 100 Crosby Drive in Bedford and 1900 Crown Colony Drive in Quincy. It currently owns 18 properties in Greater Boston totaling over 2 million square feet.

“Jumbo is enthusiastic about this latest transaction and excited about the challenge of a new asset class,” said Jay Hirsh, Managing Partner. “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.”

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