Gordy Bunch has purchased a new headquarters for his insurance company.
TWFG – formerly known as The Woodlands Financial Group – will move into Parkwood II, a five-story, 101,000 square foot office building located at 10055 Grogans Mill Road in Spring, TX, north of the city limits of Houston.
JLL facilitated the sale of to Bunch for an undisclosed amount, the Houston Business Journal reports. The Montgomery Central Appraisal District lists the property’s market value in 2022 at $13.5 million.
While Bunch plans to build and renovate the entire Parkwood II property, according to JLL, his company will only occupy two of the building’s five floors. The remaining three floors will be available for rent to other local businesses.
Bunch called the new dig the “forever home” of TWFG, adding that his business was “growing in double digits every year”. JLL said Bunch’s business recently surpassed $1 billion in annual sales. According to its website, the company offers a range of insurance plans “from auto and motorcycle to home and life.”
TWFG has always been based in the affluent Houston submarket. Bunch himself has served as Chairman of The Woodlands Township Board of Trustees since 2016 and his term expires in November 2022. So far, Bunch has not filed his name for the Woodlands Township Board of Trustees election ballot of November 2022, which has led many in the community to believe that he is going to step down.
— Maddy Sperling