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Investing.com -- Globe Life Inc. (NYSE: NYSE:GL) recently announced plans to move its corporate headquarters and acquire the property at 7677 Henneman Way in McKinney, Texas. The company will also buy two additional plots of land adjacent to this property. The seller in this transaction is SouthState Bank.
The relocation will allow Globe Life to keep over 2,000 jobs in McKinney. The company also plans to increase its workforce over time to support its growing policyholder base. The move is part of Globe Life’s growth initiatives, customer service improvement, and investment in the future of the company and its employees.
Globe Life Co-Chairman & CEO, Matt Darden (NYSE:DRI), said, "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."
The six-story Class AA office building at 7677 Henneman Way, which covers 200,000 square feet, was initially developed as Independent Bank (NASDAQ:INDB)’s headquarters in 2022. SouthState Bank later acquired Independent (LON:IOG). The building offers amenities such as dedicated and secured parking, a state-of-the-art fitness center, food and beverage centers, and a conference center that can accommodate up to 350 people. Globe Life will also put up exterior building signage at the property, which faces the Sam Rayburn Tollway with a daily traffic count of over 109,000 vehicles.
Within three miles of the location, McKinney offers seven hotels, 79 restaurants, and 76 retail establishments. Globe Life will also acquire an 8-acre tract of land immediately north of the building and another 1.3-acre tract to the east, both adjacent to its parking deck. These acquisitions are part of Globe Life’s future growth plans in McKinney.
Representatives from Cushman & Wakefield (NYSE:CWK) and Bradley Arant Boult Cummings LLP represented both Globe Life and SouthState Bank in the transaction.
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