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:
- Property Type: Office
- Transaction Amount: Not disclosed
- Address: 7677 Henneman Way
- Market: McKinney
- Asset Size: 197,694 SF
- Buyer: Globe Life
- Seller: SouthState Bank
- Brokerage: Cushman & Wakefield
- Brokers Involved: Bill McClung, Zach Bean, Todd Mills, Hunter Mills, Campbell Puckett, Ryan Hoopes, Wes Combs, Tucker Hume & Chris Taylor
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
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