Gordy Bunch has bought a new headquarters for his insurance company.
TWFG — formerly known as The Woodlands Financial Group — will be moving into Parkwood II, a five-story, 101,000-square-foot office building at 10055 Grogans Mill Road in Spring, TX, north of Houston’s city limits.
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 2022 market value at $13.5 million.
While Bunch plans to build-out 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 lease to other local businesses.
Bunch called the new digs, TWFG’s “forever home,” adding that his company had “double-digit growth every year.” JLL said Bunch’s firm had 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 been chairman of the board of The Woodlands Township since 2016, and his term expires in November 2022. So far, Bunch has not filed his name for the November 2022 Woodlands Township Board of Directors election ballot, which has led many in the community to believe he will be stepping down.
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— Maddy Sperling