A $200 million redevelopment just landed on the McKinney-Frisco border, and almost nobody talking about Stonebridge property values has factored it in yet.
When Globe Life vacated its corporate headquarters in 2025 and moved to Henneman Way, it left behind a peculiar piece of land. The campus is nearly 58 acres straddling the boundary of two of the strongest real estate markets in North Texas, with roughly 301,000 square feet of office space at 3700 S. Stonebridge Drive. Empty, that property was an asterisk. Redeveloped, it becomes one of the most consequential land deals of 2026 for McKinney west-side and Frisco east-side homeowners.
Craig International won the competitive bid to redevelop the campus as Rowlett Station, a mixed-use destination with a projected total ad valorem value that could exceed $200 million. Craig International's founder, David Craig, called the site "a rare opportunity to convert a truly irreplaceable site in one of the strongest growth markets in the country." McKinney Mayor Bill Cox publicly endorsed the project and the developer.
Why the location is the whole story
Look at what already sits within a five-minute drive of 3700 S. Stonebridge: Trader Joe's, Crunch Fitness, Adriatica, Methodist McKinney Hospital, TPC Craig Ranch, and an adjacent HEB. That cluster already prices the surrounding rooftops at a premium. The Globe Life campus was the missing puzzle piece in the middle of all of it.
Rowlett Station's master plan adds:
- A hike-and-bike trail network connecting Stonebridge Drive to Eldorado Parkway
- Pedestrian access along the Rowlett Creek corridor
- Phased multifamily, retail, and office components
- Potential adaptive reuse of the existing 301,000 square feet of office, rather than demolition
That last point is where I would focus if I were advising a Stonebridge Ranch or western-McKinney seller. Conversion of existing office is faster to deliver than ground-up construction, which means the amenity wave from Rowlett Station will hit the surrounding market years sooner than a typical greenfield development.
What this does to comparable sales
Stonebridge Ranch, the McKinney corridor west of Custer, and the Frisco rooftops east of Coit have been pricing on a relatively settled set of comps for the last two years. Rowlett Station is the kind of catalyst that breaks settled comps.
The pattern I have seen play out around similar mixed-use anchors in DFW is straightforward. Initial reaction is muted because the announcement lacks specifics. Then the master plan releases, partners are named, and a recognizable retail tenant signs. Within ninety days of that tenant announcement, listing prices in the half-mile band around the site begin to drift upward. Sellers who list in the quiet window between announcement and tenant reveal usually leave money on the table.
We are currently in the quiet window. Master planning is underway. Partners, branding, and phasing have not been announced.
The buyer side of this trade
For a 2026 buyer considering Stonebridge Ranch, the homes near the Rowlett Creek corridor or with reasonable walk/bike access to the future trail network deserve a closer look than they are getting. Today's list prices in that band were largely set before the June 8 announcement. By the time the broader market catches up, the easy-pricing window will close.
The questions I would have any DFW buyer ask before making an offer on the Stonebridge or eastern-Frisco side over the next ninety days:
- How does the property connect to the future Stonebridge-to-Eldorado trail line on a map, not just in marketing copy?
- Is the current list price built on comps from before the Rowlett Station announcement?
- What does the school assignment look like? McKinney-Frisco border properties sometimes split unexpectedly between districts.
These are not hypothetical questions. They are the same questions Heera clients ask before making a half-million-dollar decision, and Rowlett Station now puts them on the table for a wider band of inventory than was true two weeks ago.
A note for current owners
If you already own in Stonebridge Ranch, the McKinney corridor between Custer and Stonebridge, or the Frisco rooftops east of Coit, the right move is not to rush a listing. The phasing has not been announced and most of the upside is captured by waiting until the master plan and first tenant are public.
What I would do today is request a current comparable-market analysis specifically annotated with Rowlett Station as a future amenity, so when you do decide to list, the narrative is already documented and the photography highlights the walkability and trail access that will become the story.
The bigger lesson is that DFW property values around here do not move because of one transaction. They move when an obvious gap on a map suddenly becomes a $200 million project. Rowlett Station just made the map make more sense, and the homes nearest to it are about to look very different to the next round of buyers.
Source: $200 Million Redevelopment Planned For Former Globe Life Campus In McKinney — Local Profile, June 2026 · by Matilda Preisendorf
“Empty, that property was an asterisk. Redeveloped, it becomes one of the most consequential land deals of 2026 for McKinney west-side and Frisco east-side homeowners.”
