Bakke Development Corp. and BCDC have broken ground on their third joint-venture project, an 802-unit climate-controlled, self-storage facility in McAllen, Texas.
“We are excited to grow our portfolio with one of the best development teams in the region,” said Litt Glover, CEO, BCDC. “Our programmatic partnership leverages Bakke Development’s experience and deep Texas market knowledge to deliver needed assets in desirable markets.”
SharyBak Storage, 4901 E. Expressway 83, will be situated on 2 acres on the city’s west side in the Sharyland submarket. The self-storage facility will be a three-story, steel and masonry building served by two elevators and will have state-of-the-art CCTV and card access security systems.
Expressway 83 is the main east/west highway artery connecting the major valley metro areas from Brownsville to Laredo. More than 71,000 vehicles pass the site per day. A Walmart Supercenter anchors the central retail corridor, and an H-E-B Plus!, Target and Home Depot are directly across the expressway.
Frost Bank is providing construction financing. Alamo Architects is the architect and Independent Contractors, Inc. is the general contractor.
The partners anticipate delivery in the first quarter of 2024.
About Bakke
Bakke Development Corp. has developed more than 700,000 square feet of self-storage space, more than 1,500 multifamily units, 250,000 square feet of retail, and more than 30,000 square feet of office space, amounting to more than $300,000,000 in capitalized projects. Established in 1996 in San Antonio, Bakke focuses exclusively on Texas. For more information, visit bakkedevcorp.com.
About BCDC
Founded in 1963, BCDC is a wholly-owned subsidiary of Kajima USA. It is a fully integrated real estate organization providing development and capital solutions, primarily through partnerships on commercial real estate projects in the Southeastern United States. Based in Atlanta, Georgia, BCDC offers a wide variety of real estate services, from development and construction to equity and credit enhancements to brokerage and property management. Visit www.batsoncookdev.com for more information.