268,258 SF of Class A industrial on 20 shovel-ready acres in northwest Houston. 160,000 SF pre-leased to Thrive 3PL on a 10-year NNN lease before construction begins.
Thrive 3PL, a growing Houston warehousing and fulfillment company with 200+ clients, has signed a 10-year NNN lease on 60% of this project. Thrive is the developer’s own operating company, condensing two facilities into this purpose-built home. This facility is a capacity expansion driven by existing client demand.
As an “owner occupied” project, it qualifies for exceptional development loan terms with higher available loan-to-value, generating outstanding returns.
The land is closed, acquired at independent appraised value. Engineering and permits are complete, detention is in place, and the site is shovel-ready. The anchor lease is signed and pre-leasing of the small-bay half is underway. Lobdell Capital and RSC Riverside are raising $10,000,000 in equity to build. Investors earn a 7% preferred return, paid first, with a 60/40 split after return of capital.
RSC Riverside secured the land at $5.00/SF in December 2025. Six weeks later, the Houston Texans announced Toro District, an 83-acre sports and entertainment destination three miles from our site. The project is a partnership between the Texans, Howard Hughes Communities, and Harris County, projected to generate $34 billion in economic impact and 17,000+ jobs. We closed on the land in July 2026, with the basis locked before the repricing.
Toro District groundbreaking is confirmed on track for late 2026, and the Texans arrive in 2029 as the district opens and the corridor reprices. Our exits — 2029, 2031, 2033 — each sell into a further-built corridor. The district's buildout is retail, hotel, medical, and entertainment, with no industrial among it.
Houston Texans Global HQ + 83-acre mixed-use destination. Three miles from site. Partnership between the Texans, Howard Hughes Communities, and Harris County.
One of the fastest-growing areas in the country. Five of the ten fastest-growing zip codes in the US by inbound moves are in the Texas Triangle, with Cypress (77433) and Katy (77493) ranked #1 and #5 nationally.
12+ master-planned communities in active development. Bridgeland ranked #3 in Texas for home sales in 2025 (RCLCO). Howard Hughes projects 70,000 residents at buildout.
Direct LP investment in the project
Common equity in Thrive — one share class
Same building. Same underwriting. The difference is what you own. Door 1 owns this project directly. Door 2 owns the operator that owns it, pays rent to itself, and rolls every sale into the next building. Targets per sponsor underwriting at a 6.5% exit cap; final terms in offering documents.
60% committed on a 10-year NNN lease, signed before the first shovel hits dirt. The anchor removes lease-up risk. This is not a speculative development.
Thrive's commitment enables exceptional construction financing — reducing equity required by millions compared to a spec build.
A $34B economic accelerator three miles away, breaking ground late 2026. Bank appraised our land at $6.50/SF vs. the $5.00/SF contract price — and the corridor keeps repricing.
Complete before your capital is called: site acquired at independent appraised value, engineering and permits done, detention in place, shovel-ready.
The anchor removes lease-up risk. The small bay removes credit risk. The anchor's sales team leases both halves — into an institutional bid paying 6.0–6.5% caps for exactly this product.
Principal, Lobdell Capital
Eric is an operator-investor who acquires, builds, and scales real assets and businesses. He founded Lonestar Trade, a multi-channel e-commerce business that generated over $100M in revenue, then applied that operational discipline to real estate, acquiring distressed self-storage assets, expanding them, and delivering outsized returns. He is the founder of Thrive 3PL, the anchor tenant pre-leasing 160,000 SF in this project. Eric invests his own capital alongside his partners and operates the businesses inside the assets he develops.
CEO, RSC Riverside Construction
Christian is the CEO of RSC Riverside Construction, a veteran-owned Houston commercial construction firm with over 20 years of experience and more than 4,000 completed projects. RSC Riverside has been a trusted construction partner for the Houston Airport System, George Bush Intercontinental Airport, and United Airlines for over 15 years. Christian leads the firm’s real estate development and ground-up construction practice, with approximately a dozen active industrial development projects across Houston and millions of square feet of tilt-wall construction delivered.
| Role | Name | Firm |
|---|---|---|
| Sponsor / Capital | Eric Lobdell | Lobdell Capital |
| Sponsor / Construction | Christian Goedde | RSC Riverside Construction |
| CRE Brokerage | Mason Alsbrooks, SIOR, CCIM | Lee & Associates |
| Capital Markets | Jackson Randolph | Versal Partners |
| Capital Raising | Mike Spears, SIOR, CCIM | Lee & Associates |
| Legal | Andrew Raish | Ressling & Raish, PLLC |
Katy-Hockley Industrial Park
The land is closed. The anchor is signed. The site is shovel-ready. Now we build.
This page is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities. Targets are per sponsor underwriting; final terms are set forth in the offering documents. Investment involves risk, including loss of principal. This opportunity is available only to accredited investors. Past performance of the sponsor’s other ventures is not indicative of future results.