Bakke Development Corporation (Bakke), a real estate development company specializing in multifamily, self-storage, shadow-anchored retail shopping centers, office and urban in-fill redevelopment exclusively in Texas, and Batson-Cook Development Co. (BCDC), a fully integrated real estate organization providing development and capital solutions, have a launched a strategic partnership that will deliver projects across the state of Texas.
The joint-venture partners have started two climate controlled Class A self-storage facilities in McAllen and Brownsville, respectively, totaling more than 1,500 units and 175,000 square feet. Susser Bank is the senior lender on both projects.
“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, the President and CEO of BCDC. “We are thrilled to partner with a well-known and well-respected developer as we launch this strategic partnership that will deliver projects across the state of Texas.”
The 86,800 square-foot McAllen facility is located on 2.8 acres on Trenton Road and will have 781 units. The three-story climate-controlled building will feature a loading dock, two service elevators and state-of-the-art CCTV and card access security systems.
The property benefits from high visibility and daily traffic counts with excellent vehicular access. The partnership is aiming for delivery in the first quarter of 2023.
Located on Ruben Torres Boulevard, the Brownsville facility is on 2.3 Acres and will have 781 units spread over more than 87,250 square feet. A major east/west thoroughfare through north-central Brownsville allows access to the site. It is located just west of an HEB Plus!, one of the top HEB Grocery stores in the state by the total number of visits.
First units are anticipated in the second quarter of 2023.
Alamo Architects, Inc. is the architect for both facilities, and Independent Contractors, Inc. is the general contractor.