#United States #Texas #McKinney #Globe Life

Globe Life Inc. to Relocate Corporate Headquarters

Globe Life Inc. (NYSE: GL) has recently made headlines by announcing its decision to relocate its corporate headquarters within McKinney, Texas, an action that underscores its commitment to growth in the bustling Dallas-Fort Worth market. The company plans to acquire a state-of-the-art facility at 7677 Henneman Way, alongside two adjacent tracts of developable land. This strategic move will further solidify Globe Life's presence in McKinney while enabling the company to modernize its work environment for better employee satisfaction and productivity.

The relocation will retain over 2,000 jobs in the area, with plans for future workforce expansion to accommodate the company’s growing base of policyholders. According to Matt Darden, Co-Chairman and CEO of Globe Life, this endeavor is strategically aimed at enhancing the workspace and reinforces their commitment to nurturing both employee welfare and customer service excellence. He noted, "This move represents our commitment to continued growth initiatives and our investment in the future of Globe Life and our employees."

The new headquarters, measuring around 200,000 square feet, is situated in a six-story Class AA office building designed for Independent Bank in 2022. The facility boasts modern amenities, including dedicated and secured parking, a state-of-the-art fitness center, and food and beverage centers. Additionally, the conference room is equipped to host up to 350 attendees, making it ideal for meetings and corporate events. The prominent location also provides significant visibility as it lies adjacent to the heavily-trafficked Sam Rayburn Tollway, which experiences daily traffic of over 109,000 vehicles.

Moreover, the McKinney area offers a wealth of local amenities within just three miles, including seven hotels, 79 restaurants, and 76 retail establishments, ensuring employees enjoy convenient access to essential services and leisure activities during their workday.

Aside from its new headquarters, Globe Life is securing approximately 8 acres of developable land situated just north of the building and adjacent to the parking deck, along with 1.3 acres to the east. This acquisition is designed to provide ample space for future growth initiatives as Globe Life continues to expand its operations.

Cushman & Wakefield, an esteemed global commercial real estate services firm, facilitated the transaction, representing both Globe Life and SouthState Bank, the current property owner. Legal representation for Globe Life was provided by Bradley Arant Boult Cummings LLP, ensuring that the acquisition process followed all necessary legal guidelines.

About Globe Life

Globe Life Inc. specializes in providing life and supplemental health insurance primarily for middle-income clientele. The company utilizes various distribution channels, reaching customers directly as well as through independent and exclusive agencies.

About Cushman & Wakefield

Cushman & Wakefield stands as a leading force in the commercial real estate sector, serving property owners and occupiers with 52,000 employees distributed across nearly 400 offices in 60 countries. In 2023, the firm celebrated a substantial revenue milestone of $9.5 billion in its core services, which encompass property and facilities management, leasing, and valuation services, reflecting its robust reputation in the industry.

The relocation of Globe Life's headquarters is anticipated to not only facilitate internal growth but also contribute positively to the McKinney economy, creating more job opportunities and enhancing local business performance. As Globe Life embarks on this new chapter, it remains committed to providing exceptional service to its customers while nurturing a productive workplace for its growing workforce.