Michael Podboy Of Outrigger Industrial Leases 119355 SF Industrial Space To Representative Materials Company
1055 West Lake Houston Parkway
Building Size
119,355 SF
Asset Type
Industrial
Closing
Jul 29, 2025
AI
The asset involved in the transaction is a 119,355 square foot industrial property located at 1055 W. Lake Houston Parkway in the Humble market. The property is owned by Outrigger Industrial.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not disclosed
- Address: 1055 W. Lake Houston Parkway
- Market: Humble
- Landlord: Michael Podboy - Outrigger Industrial
- Tenant: Gary Lessing - Representative Materials Company
- Brokers: Jarret Venghaus, Jeff Venghaus & David Holland - JLL
- Occupancy after lease: 46%
The lease was signed by Representative Materials Company, which reflects involvement from tenant representative Gary Lessing. The brokerage team consists of Jarret Venghaus, Jeff Venghaus, and David Holland from JLL, facilitating the transaction process for both parties.
Players
Humble Industrial Market Snapshot
Boundary boundary · Industrial · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93