Bakke Development Corp. and Batson-Cook Development Co. (BCDC) have formed a joint venture to pursue self-storage projects in Texas. The partnership has started construction on developments in Brownsville and McAllen that’ll comprise about 175,000 square feet in more than 1,500 units, according to a press release.
“Texas is an outstanding self-storage market. Bakke Development’s market knowledge and expertise allow us to deliver top-of-market, professionally-run self-storage facilities,” said Litt Glover, president and CEO of BCDC. “We are thrilled to partner with a well-known and well-respected developer as we seek opportunities across the state.”
The Brownsville project will be built on 2.3 acres along Ruben Torres Boulevard. It’ll comprise 87,250 square feet in 781 units. Construction is expected to be complete by July 2023.
The three-story McAllen facility will be developed on a 2.8-acre lot on Trenton Road. It’ll comprise 86,800 square feet in 781 units. The building will have keycard access, a loading dock and two service elevators. The project is expected to be complete by April 2023.
Alamo Architects Inc. designed both facilities, with Independent Contractors Inc. serving as general contractor. Susser Bank is the lead lender on both projects.
Founded in 1996 and located in San Antonio, Bakke specializes in multi-family, office, self-storage, shopping centers and urban infill redevelopment projects exclusively in Texas. It’s developed more than 550,000 square feet of self-storage.
Founded in 1963 based in Atlanta, BCDC provides development and capital solutions primarily through partnerships on commercial real estate projects. The company provides a variety of real estate services primarily through equity and credit enhancement for ground-up development, the release stated. It’s a is a wholly-owned subsidiary of Kajima USA Inc., a construction-engineering firm.