Bakke Development, in a joint venture with BCDC, has broken ground on an 85,825-rentable-square-foot self storage facility in McAllen, Texas. This development marks the fourth project for the partnership.
The team behind the project also includes Alamo Architects, civil engineer Halff Associates and general contractor Independent Contractors Inc. The $8.1 million construction loan was provided by Security State Bank, according to Hidalgo County records. The development is slated for delivery in the first quarter of 2025.
Upon completion, the three-story building will feature 762 climate-controlled units. The property will also include closed-circuit monitoring, card access security systems, a loading dock and two service elevators.
The facility is taking shape at 2100 S. McColl Road and has access to interstates 2 and 69C. The property will serve the South McAllen-Pharr submarket and the surrounding area, which includes the South Texas Health Systems medical and business district.
The storage facility will be one of the 11 available within a 3-mile radius, offering residents 6.9 rentable square feet per capita. The McAllen market currently has nine self storage properties under construction, set to add 613,916 rentable square feet to the existing inventory, Yardi Matrix data shows. Bakke Development has a total of six properties in the market, of which four are underway, according to the same research. The company’s portfolio includes two additional projects in the San Antonio market.
The South Texas storage inventory continues to expand. U-Haul has recently announced the development of a 750-unit facility in San Antonio, set for completion in 2026.
