This Week's Dallas-Fort Worth Deal Sheet: Globe Life Buys 200K McKinney Building For HQ Relocation
Globe Life will move its corporate headquarters following its planned acquisition of a 200K SF office building at 7677 Henneman Way in McKinney and two tracts of developable land adjacent to the property.
SouthState Bank is the seller in the transaction. The office building was developed in 2022 as Independent Bank’s headquarters before the institution was acquired by SouthState. Building amenities include a fitness center, food and beverage centers, and a conference center for up to 350 people.
The two tracts of land Globe Life will acquire in the deal total around 8 acres.
“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," Globe Life Co-Chairman and CEO Matt Darden said in a statement.
With the relocation, Globe Life will retain more than 2,000 jobs in McKinney. The company said it plans to continue growing its workforce.
Cushman & Wakefield’s Campbell Puckett, Ryan Hoopes, Bill McClung, Tucker Hume, Zach Bean and Chris Taylor represented Globe Life and SouthState Bank in the transaction.
PEOPLE
JLL added Tracy Gray to its Dallas-Fort Worth retail team as executive vice president. Gray will oversee project leasing and tenant representation. Before joining JLL, Gray was managing principal at Holt Lunsford Commercial.
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Trez Capital named John Maragliano its co-CEO. He has 25 years of experience in the financial services industry. Maragliano will also continue as chief financial officer for the company. With Maragliano’s promotion, Christian Skogen moves into the role of chief investment officer, Keiju Yamasaki becomes chief credit officer. Dean Kirkham departed from his role as the organization's co-CEO and president after being with the firm since 2016.
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Architectural firm HKS announced 10 promotions and appointments in its Dallas office.
- Brad Robichaux is now the global practice director for education interiors. He will focus on designing K-12, higher education and student housing projects.
- Brian Fitzgerald is now a principal. Fitzgerald is a senior project manager responsible for implementing the design, producing contract documents and coordinating the design with mechanical, electrical and plumbing systems and building owner systems.
- Chad Porter is now a partner and shareholder. He leads the Dallas Laboratory for INtensive Exploration Studio.
- Deborah Wingler is now a partner and shareholder. She is global practice director, working with HKS' research and design teams to develop and implement initiatives that achieve meaningful, measurable outcomes.
- Enoch Suhm is now a principal. Suhm is a studio design leader, collaborating with clients and team members to develop the vision for each project and ensure it proceeds from schematic design through construction documents.
- Erin Peavey is now a principal. Peavey is an architect and a health and well-being design leader, integrating research and practice to advance design.
- Meredith Brelo is now a principal. She is a senior medical planner.
- Mike Mamer is now a partner and shareholder. Mamer is a studio technical leader, designing specialized healthcare facilities.
- Michael Shald is now a principal. He is a senior construction administrator, following up on the performance of various disciplines to produce construction documents, supporting construction administration and assisting in asset management integration for facility operations.
- Ramon Cavazos is now a principal. He is also studio practice leader.
SALES
M2G Ventures’ general partner equity fund, Grey Swan I, acquired a four-building industrial complex in Garland. The 215K SF complex at 10202 Miller Road was around 98% occupied with 10 tenants at the time of the transaction. M2G plans to make significant upgrades to the 50-year-old property, including addressing deferred maintenance, replacing the roofs, painting building exteriors, and upgrading landscaping, signage and exterior lighting.
Newmark’s Stephen Bailey, Dustin Volz, Dom Espinosa, Zach Riebe and Travis McEldowney represented M2G in the deal. The leasing team for the project will be Lee & Associates’ Brett Lewis and Taylor Stell.
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Marcus & Millichap announced the sale of a single-tenant ground lease portfolio at 5001 and 5101 N. Tarrant Parkway in Fort Worth. The portfolio features two newly constructed assets on 4.4 acres, occupied by Seven Brew and HTeaO. Marcus & Millichap’s Joe Santelli marketed the property on behalf of the seller, a local developer. The buyer was an out-of-state private investor in a 1031 exchange.
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Marcus & Millichap announced the sale of a nearly 24K SF bar and restaurant property at 611 Houston St. in downtown Fort Worth. The two-story property at the corner of Houston and West Sixth streets was built in 1939. It has been occupied by The Library Bar and Pete’s Dueling Piano Bar for more than 20 years.
Marcus & Millichap’s Joe Santelli marketed the property on behalf of the seller, a private Texas-based investment group. Santelli also procured the buyer, another private local investment group.
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TA Realty LLC sold Granite Point Business Center in Denton to High Street Logistics Properties. Cushman & Wakefield arranged the sale of the rear-load distribution center, with the firm’s Jim Carpenter, Jud Clements, Robby Rieke and Trevor Berry representing TA Realty LLC. Granite Point Business Center offers 145K SF and is fully leased to four tenants.
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Marcus & Millichap brokered the sale of the 66-unit Agave Azul on Boulder Apartments in Dallas. The 60-year-old property off Kiest Boulevard has undergone substantial renovations over the past five years.
Marcus & Millichap’s Ford Braly, Al Silva and Dylan York marketed the property on behalf of the seller, a Dallas-based private investor who had owned the property since 2018. The buyer, a Dallas-Fort Worth-based partnership, was procured by Braly, Silva and York.
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The Multifamily Group announced the sale of The Parks on Taylor in Sherman. The multifamily development at 1200 W. Taylor St. features amenities, including two pools, a dog park and a picnic area. The Multifamily Group’s Jon Krebbs represented the seller and Yonnic Land procured the buyer.
CONSTRUCTION AND DEVELOPMENT
Hillwood, Ridgemont Construction Co. and Tom Thumb broke ground on a grocery-anchored development at 1046 Market Way in Argyle. It will include a 63K SF Tom Thumb store with an in-store Starbucks kiosk, a pharmacy with a drive-thru and a grocery pick-up area. The store is slated to open in spring 2026.
FINANCING
Marcus & Millichap Capital Corp. arranged a 70% loan-to-cost loan from a regional bank on behalf of Stonewood Hotels for the development of a 124-key Home2 Suites by Hilton. The hotel is slated to be completed in the third quarter of 2026 on Highway 67 in Desoto. Marcus & Millichap Capital Corp.’s Pete Fehlman and Jake Marshall represented the borrower.
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Maitland Management refinanced a pair of northwest Dallas-area office towers totaling nearly 400K SF.
The first property was the 10-story office tower The Meridian at 2711 Lyndon B. Johnson Freeway in Farmers Branch. The second property was NorthPointe Centre at 12005 Ford Road in Dallas. The refinances, which were secured in separate transactions with different lenders, were arranged by ARZ Realty Capital’s Ari Raskas.
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Newmark brokered a recapitalization and new joint venture between Hines and CubeSmart for a 14-property self-storage portfolio in Dallas-Fort Worth. The portfolio features more than 9,700 units across almost 1.3M net-rentable SF operating under the CubeSmart Self Storage brand. Newmark’s Aaron Swerdlin and Andrew Warin advised Hines on the recapitalization.
THIS AND THAT
The city of Garland and Dallas Area Rapid Transit are seeking proposals from mixed-use master developers to create a transit-oriented development at the Lake Ray Hubbard Transit Center. Located at 6151 Duck Creek Drive in Garland, the 12-acre site is zoned for mixed-use development and has been identified as a catalyst project within Garland’s Interstate 30 Corridor Catalyst Area Plan.
With a focus on residential density, the site offers opportunities for urban residential, townhomes, senior living, flexible workspaces and medical office infrastructure, according to the city’s announcement.
