Houston, TX – February 23, 2021 – Colliers is pleased to announce the sale leaseback of Dynamic Glass Industrial Park, a 160,778 square foot complex, located at 9419 Windfern Road and 9320 Zaka Road in Houston, Texas. The buyer, Gordon Creekside, was represented by TCI Properties out of California. David L. Carter and John Nicholson of Colliers represented the seller in the transaction.
“We took advantage of our strong financial performance and low interest rates to maximize the value of our real estate holdings,” said Chief Financial Officer, Scott Coulter of Dynamic Glass. “This transaction allowed us to continue to utilize this important part of our operation for many years to come as well as delivered capital to repay outstanding debt, fund growth investments and provide liquidity to our shareholders. This transaction was a win all around.”
Dynamic Glass executed a 15-year market rent lease with the buyer upon closing. The property is a 4-building industrial complex situated on ±9 acres with frontage on Windfern Road. The complex allows excellent access to West Sam Houston Parkway and all other major thoroughfares.
The property is located in the Highway 290/Tomball Parkway industrial submarket. The submarket added 3.2 million square feet of new industrial/flex product and absorbed 1.6 million square feet in 2020.
About Dynamic Glass
Founded in 1990 and headquartered in Houston, Dynamic Glass is one of the largest glass, glazing and metal panel service providers in the U.S. The Company specializes in the fabrication and installation of glass systems and metal cladding products for exterior and interior buildouts for large commercial construction projects. Dynamic Glass utilizes in-house design, engineering, fabrication and installation capabilities to ensure the highest quality products are delivered to the field and installed safely and efficiently. Dynamic Glass is a portfolio company of Houston-based private investment firm Platform Partners. For more information, please visit www.dynamicglass.com.
About Platform Partners LLC
Founded in 2006, Platform Partners LLC is a private investment company based in Houston that makes investments in lower middle-market companies with the intent of growing these businesses into industry leaders through a combination of organic and acquisition growth. Platform invests through a perpetual holding company structure allowing for a long-term, patient approach to partnering with entrepreneurs to build companies. The company manages total assets of approximately $450 million. For more information, please visit www.platformllc.com.