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7677 Henneman Way

Globe Life Purchases Office Property From SouthState Bank In McKinney For $197694
SOLDOffice

Globe Life Purchases Office Property From SouthState Bank In McKinney For $197694

7677 Henneman Way

Building Size

197,694 SF

Asset Type

Office

Closing

Jul 1, 2025

AI

The property asset involved in this closed transaction is an office building located at 7677 Henneman Way in the McKinney market. The facility encompasses a total square footage of 197,694. The buyer of the asset is Globe Life, while the seller is SouthState Bank.

Summary of transaction details:

This transaction involves multiple key individuals from Cushman & Wakefield who represented both the buyer and seller. The team includes Bill McClung, Zach Bean, Todd Mills, Hunter Mills, Campbell Puckett, Ryan Hoopes, Wes Combs, Tucker Hume, and Chris Taylor, highlighting the collaborative effort in facilitating this deal.

Players

Zach Bean

Cushman & Wakefield

Broker

6 deals

Broker
Cushman & Wakefield
Cushman & WakefieldBrokerage
Southstate Bank
Southstate BankSeller

McKinney Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93