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1055 West Lake Houston Parkway

Michael Podboy Of Outrigger Industrial Leases 119355 SF Industrial Space To Representative Materials Company
LEASEDIndustrial

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

Jarret Venghaus

JLL

Broker

5 deals

Broker
JLL
JLLBrokerage
Michael Podboy

Michael Podboy

Outrigger Industrial

Landlord

3 deals

Landlord
Outrigger Industrial
Outrigger IndustrialLandlord

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