BCDC, Bakke Development Sell Texas Self Storage Facility

Batson-Cook Development Co., together with Bakke Development, has sold a 771-unit self storage facility in McAllen, Texas to Reframe Holdings. The new ownership will retain Extra Storage Space as property manager.

Reframe used Extra Space’s bridge loan program to finance the acquisition. 

Completed in 2023, the three-story property utilizes 85,755 square feet of storage space and covers a 2.82-acre site. The facility is at 301 Trenton Rd., near interstates 69C and 2 and some 13 miles north of the U.S.-Mexico border.  

All units are climate-controlled and range in size from 25 to 300 square feet. Amenities at the gated facility include an on-site manager and drive-up aisles. The property is one of the 20 available on a 3-mile radius, serving over 100,000 residents with average household incomes of $144,000, offering 13.87 rentable square feet per capita.

As of November, there were three self storage properties under construction in McAllen, set to add 185,225 rentable square feet to the market, according to Yardi Matrix information.  

Directors Matthew Wheeler and Adam Roossien, together with Senior Managing Director Steve Mellon and Analyst Ben Pollack led the JLL Self Storage Capital Markets team representing BCDC and Bakke Development. JLL Director John Bauman worked and procured financing on behalf of the buyer.

Earlier this year, BCDC and Bakke Development broke ground on a 104,875-square-foot self storage facility in New Braunfels, Texas, some 30 miles northeast of San Antonio. The property is scheduled for completion in the first quarter of 2025 and will consist of 987 units.