Insurance Company Buys Houston-Area Property for New HQ

Parkwood II

TWFG Insurance, led by Founder & CEO Gordy Bunch, has purchased Parkwood II, a 101,056-square-foot office building in The Woodlands, Texas, public records show. JLL Capital Markets brokered the transaction on behalf of Goldman Sachs Asset Management—identified by CommercialEdge as the seller—and procured the buyer.

The buyer plans to renovate the five-story building and move its headquarters to the location. The property’s fourth and fifth floors will serve as TWFG’s permanent office, while the remaining three floors will be available for lease, Bunch stated in prepared remarks. The company is currently based at 1201 Lake Woodlands Drive, in the same city.

Built in 1994, the asset is located at 10055 Grogans Mill Road, less than a mile from downtown Woodlands, adjacent to Woodlands Parkway. Positioned roughly 2 miles away from Interstate 45, Parkwood II is 32 miles north of downtown Houston. An array of retail, entertainment and hospitality offerings, such as The Cynthia Woods Mitchell Pavilion, Market Street, The Woodlands Mall and The Woodlands Waterway, are within walking distance.

The JLL team working on behalf of the seller was led by Managing Director Kevin McConn, while Vice President Bryant Lach and Senior Vice President Jeff Horton represented the buyer. In July, McConn was involved in the sale of Oak Park Office Center II, a 206,400-square-foot office property in Houston. Almost half of the building is occupied by Men’s Wearhouse’s corporate headquarters.