Globe Life Announces Plans to Relocate Corporate Headquarters within McKinney, Texas, part of the Dallas-Fort Worth Market

Rhea-AI Summary

Globe Life (NYSE: GL) has announced plans to relocate its corporate headquarters within McKinney, Texas. The company will acquire a 200,000-square-foot, six-story Class AA office building at 7677 Henneman Way, along with approximately 9.3 acres of adjacent developable land for future growth.

The modern facility, built in 2022, features dedicated parking, a fitness center, food and beverage centers, and a conference center accommodating up to 350 people. The building offers prominent visibility along Sam Rayburn Tollway, which sees over 109,000 vehicles daily.

The relocation will maintain over 2,000 jobs in McKinney, with plans for workforce expansion to support Globe Life's growing policyholder base. The location provides access to numerous local amenities, including seven hotels, 79 restaurants, and 76 retail establishments within three miles.

Positive

• Maintains and plans to expand workforce of over 2,000 employees
• Acquires 9.3 acres of developable land for future growth
• Secures modern 200,000 sq ft Class AA office building with premium amenities
• High-visibility location with exposure to 109,000 daily vehicles

Negative

• None.

Insights

Corporate Real Estate Analyst

This strategic headquarters relocation represents a significant operational upgrade and growth commitment from Globe Life. The acquisition of a 200,000 square-foot Class AA office building and 9.3 acres of adjacent developable land positions the company for substantial future expansion while maintaining its established presence in the Dallas-Fort Worth market.

The property's specifications reveal careful consideration of both immediate needs and long-term growth potential. The modern facility, built in 2022, offers premium amenities that enhance employee experience and operational efficiency. The building's prominent location along Sam Rayburn Tollway, with exposure to 109,000 daily vehicles, provides valuable brand visibility in one of America's fastest-growing metropolitan areas.

Several key strategic advantages emerge from this move:

• Operational Continuity: Retaining the existing workforce of 2,000+ employees while upgrading facilities minimizes disruption risks
• Expansion Capacity: The additional land acquisition provides flexibility for future growth without requiring another relocation
• Talent Attraction: Modern amenities and proximity to urban conveniences strengthen employee retention and recruitment capabilities
• Operational Efficiency: Purpose-built features like the 350-person conference center and secured parking enhance workplace functionality

For investors, this move signals management's confidence in Globe Life's growth trajectory and commitment to operational excellence. The investment in premium real estate assets, while maintaining geographical continuity, suggests a well-planned approach to scaling operations while managing transition risks.

MCKINNEY, Texas, Feb. 3, 2025 /PRNewswire/ -- Globe Life Inc. (NYSE: GL) has announced plans to relocate its corporate headquarters and is slated to acquire 7677 Henneman Way in McKinney as well as two tracts of developable land adjacent to the property. SouthState Bank is the seller in the transaction.

With the relocation, Globe Life retains over 2,000 jobs in McKinney and plans to continue growing its workforce over time to support its growing policyholder base.

"We are excited to announce the relocation plans of our corporate headquarters as they will provide an opportunity to update and modernize our workspace for our valued employees," said Globe Life Co-Chairman & CEO, Matt Darden. "This move represents our commitment to continued growth initiatives, to providing the highest level of service to our customers, and our investment in the future of Globe Life and our employees."

The 200,000-square-foot, six-story Class AA office building at 7677 Henneman Way was recently developed as Independent Bank's headquarters in 2022 before SouthState Bank's acquisition of Independent. In-building amenities include dedicated and secured parking, a state-of-the-art fitness center, food and beverage centers, and a conference center that accommodates up to 350 people. Additionally, Globe Life will establish exterior building signage at the property, which fronts the Sam Rayburn Tollway and its daily traffic count of over 109,000 vehicles.

Nearby, McKinney amenities within three miles include seven hotels, 79 restaurants and 76 retail establishments.

In addition to securing 7677 Henneman Way, Globe Life will acquire a tract of developable land totaling approximately 8 acres, which is located immediately north of the building and adjacent to its parking deck, as well a neighboring tract to the east totaling 1.3 acres, all to support Globe Life's future growth in McKinney.

Cushman & Wakefield's Campbell Puckett, Ryan Hoopes, Bill McClung, Zach Bean, and Chris Taylor represented Globe Life and SouthState Bank in the transaction. Bradley Arant Boult Cummings LLP's Krishan Patel and Lauren Smyth also represented Globe Life. 

About Globe Life

Globe Life Inc. is a holding company specializing in life and supplemental health insurance for the middle-income market distributed through multiple channels, including direct to consumer and exclusive and independent agencies.

About Cushman & Wakefield

Cushman & Wakefield is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2023, the firm reported revenue of $9.5 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services. It also receives numerous industry and business accolades for its award-winning culture. For additional information, visit www.cushmanwakefield.com.

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/globe-life-announces-plans-to-relocate-corporate-headquarters-within-mckinney-texas-part-of-the-dallas-fort-worth-market-302366484.html

SOURCE Globe Life Inc.

FAQ

What is the size of Globe Life's new headquarters building in McKinney?

Globe Life's new headquarters is a 200,000-square-foot, six-story Class AA office building.

How many jobs will Globe Life (GL) maintain in McKinney after the headquarters relocation?

Globe Life will retain over 2,000 jobs in McKinney and plans to continue growing its workforce.

How much additional land did Globe Life acquire for future expansion in McKinney?

Globe Life acquired approximately 9.3 acres of developable land, including an 8-acre tract north of the building and a 1.3-acre tract to the east.

What amenities are included in Globe Life's new McKinney headquarters?

The building features dedicated and secured parking, a state-of-the-art fitness center, food and beverage centers, and a conference center that accommodates up to 350 people.

What is the daily traffic exposure for Globe Life's new headquarters location?

The building fronts the Sam Rayburn Tollway which has a daily traffic count of over 109,000 vehicles.