310,000 SF Purpose-Built Warehouse
Lobdell Capital is developing a 310,000 square foot tilt-wall industrial warehouse on 20 acres in northwest Harris County, Texas. The site is located on the US 290 corridor — one of Houston's fastest-growing logistics and distribution corridors — and was secured under contract before the February 2026 announcement of the Toro District, an 83-acre mixed-use development by the Houston Texans just seven miles away.
The project is designed as a purpose-built fulfillment facility with Thrive 3PL as the anchor tenant on a long-term NNN lease, providing day-one income stability for the development. The remaining space will serve industrial and distribution tenants drawn by the corridor's rapid growth.
Why This Site, Why Now
- Land secured at pre-catalyst pricing before the Toro District announcement repositioned the corridor
- The 290 corridor is experiencing rapid growth — Waller County population up 13.4% since 2020, with 12+ master-planned communities launching
- 72% pre-leased to Thrive 3PL on a 10-year NNN lease with annual escalators before construction begins
- Tenant-in-tow structure aligns incentives: Thrive is both the anchor tenant and an operating partner
- Two-stage capital structure offers flexibility — land bridge and full development participation available
- Excess land creates additional optionality beyond the core warehouse development
The development is structured through Lobdell Capital LLC. Detailed underwriting, comparable analysis, and project economics are available to qualified parties upon request.