The insurance giant will buy the Independent Bank campus in McKinney.
MCKINNEY, Texas — This article was originally published by our content partners at the Dallas Business Journal. You can read the original article here.
Globe Life Inc. is moving its headquarters within McKinney and will relocate thousands of employees to a new site just minutes from its current location.
The large insurance company announced Feb. 3 that it will buy the office building at 7677 Henneman Way, along with more than 9 acres of developable land, from Florida-based SouthState Corp.
Independent Bank Group Inc. developed the six-story, 200,000-square-foot building as its headquarters in 2022. SouthState Bank became the owner of the property after it acquired Independent in a $2 billion deal that closed last month.
A representative for Glove Life declined to comment and SouthState did not respond to a request for additional information. Prior to Independent Bank’s buyout, then-CEO David Brooks had said the plan was to keep the campus but that SouthState needed to review its real estate strategy.
At the new campus, Globe Life’s 3,000-plus employees will have access to amenities including a fitness center, food and beverage stations and a 350-person conference center. The company, which serves as the official life insurance partner of the Texas Rangers and Dallas Cowboys, also plans to install exterior signage facing the Sam Rayburn Tollway.
The new headquarters is just 10 minutes from its current location on Stonebridge Drive.
Cushman & Wakefield’s Campbell Puckett, Ryan Hoopes, Bill McClung, Tucker Hume, Zach Bean and Chris Taylor represented Globe Life and SouthState Bank in the sale.
“We are excited about relocating our corporate headquarters, as this move allows us to modernize our workspace for our valued employees,” Globe Life Co-Chairman and CEO Matt Darden said in a statement.
The Independent campus was developed in phases by Dallas-based KDC. It’s part of the McKinney Corporate Center at Craig Ranch, a large hub for commercial development in the wider Craig Ranch master-planned community. At the time, it was described as a $150 million office campus. Similar to Globe Life, Independent in 2021 purchased additional land to prepare for future growth.
In 2024, Globe Life reported $28.6 billion in assets and $5.5 billion in revenue, according to Forbes. The company’s latest third-quarter earnings report in October reported an 18 percent increase in net income and a 7 percent increase in net investment income compared to the same period a year prior.
