Project is First in New Joint-Venture Program Between Atlanta Developers
Batson-Cook Development Company, BCDC, and ADEVCO (ADEVCO Corporation) have entered into a joint venture partnership that will deliver a three-story climate-controlled Extra Space Storage with 804 secure storage units in Dunwoody, Ga.
“BCDC is committed to partnering with the best-in-class developers throughout the Southeastern United States, and we have done that once again with ADEVCO,” said Litt Glover, CEO. “This is a new programmatic opportunity for us. ADEVCO has the experience and expertise to ensure a successful partnership.”
The JV has closed on the land and recently broke ground on the 112,000 quare-foot, three-story climate-controlled building located at 4444 N. Shallowford Road in Dunwoody, Ga.. The new Extra Space Storage will be delivered to meet the growing demand for self-storage in the Dunwoody, Brookhaven, Sandy Springs and Perimeter Center submarkets.
The submarket has experienced explosive population growth as a result of commercial relocations. There are ongoing and planned multifamily developments nearby, which projects an ongoing demand for professionally managed institutional quality self-storage.
Georgia’s Own Credit Union is providing construction financing, and BCDC and ADEVCO are providing equity. Extra Space Storage, the second largest operator of self storage facilities in the US, will be providing leasing and property management.
Founded in 1963, Batson-Cook Development Company 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, Batson-Cook Development Company 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 from more information.
Founded in 1990, ADEVCO delivers quality developments and program management services to Fortune 500 companies as well as private and institutional investors throughout the United States. Our developments are located in 40 different markets in 20 states. Since inception, over 28 years ago, ADEVCO has developed over six million square feet of climate controlled storage, corporate office, call center facilities, assisted living communities and multifamily projects valued at more than $800 million. Our specialty – achieving your real estate objectives by consistently delivering effective development solutions and superior program management services.