💼I-30/Summit Ave building sold; PE fund has $500M for college sports; CEO confidence bottoming out?

TW Fort Worth (Transwestern) brokers Bill and Gavin Behr announced they have sold the Jim Finley Property office building at 1612 Summit at the corner of I-30 and Summit Avenue. The four-story building was built in 1988, has 52,000 square feet and 92 surface parking spots. Tenants include Lone Star Ag Credit and Ameriprise Financial.

D.R. Horton said it would list its common stock on NYSE Texas, the newly launched fully electronic equities exchange in Dallas, and maintain its primary listing on the New York Stock Exchange. The DHI ticker symbol will be the same on both.

Elevate is set to announce the creation of the Collegiate Investment Initiative, a $500-million endeavor backed by PE firm Velocity Capital Management and the Texas Permanent School Fund, the Sports Business Journal reported. Jonathan Marks, Chief Business Officer of Elevate College and Global Marketplace, said it already had closed funding deals with two Power Four athletic departments.

Believe it or not: Texas will be paying up to $94.5 million this year on lobbyists, a slight decrease from the $98.6 million spent in 2023. A bill to end the practice did not get through the legislative session. 

Fort Worth-based transportation company Balkan Express filed for Chapter 11 bankruptcy protection with the U.S. Bankruptcy Court for the Northern District of Texas. The estimated liabilities range between $10 million and $50 million, the filing states, including more than $750,000 in unsecured claims.

Grapevine-based GameStop reported a 17% decline in quarterly revenue as more customers moved away from its brick-and-mortar stores in favor of digital game downloads. Shares were down approximately 4% after hours in reaction to revenue of $732.4 million vs. $881.8 million a year ago.

Texas’ natural gas production set record highs this spring and the state’s oil production remained at strong levels. The state produced 42.2% of total U.S. crude oil production and 29.2% of the U.S.-marketed natural gas production between January and May, according to the Texas Oil & Gas Association.

Garage Door Medics, which serves Tarrant County, will become part of Guild Garage Group, an alliance of residential garage door service companies focused on replacement, repair and installation. Garage Door Medics is Guild's 19^th acquisition since launching in 2024. 

Meow Wolf in Grapevine is adding a new inter-dimensional bar called Prime Materia. Opening June 20, the bar will offer lore-infused elixirs, with each carrying a nod to the characters, symbols and systems within the interactive museum.

Arlington Tex-Mex restaurant Campo Verde, known for its year-round Christmas decor, has re-opened with new ownership and a refreshed menu. Closing, after 27 years and just two owners, is Old Neighborhood Grill off 8th Avenue and Park Place in Fort Worth. 

The Outlets at Hillsboro, the once-bustling mall about 60 miles south of D-FW, is being razed. See what is planned for development there.

The 2026 edition of BitBlockBoom, the longest-running conference just about Bitcoin, is scheduled for Fort Worth next April 9-12. The conference offers “targeted instruction, carefully chosen networking, and no-nonsense Bitcoin conversation.”

Muckleroy & Falls has begun a project for Tarrant County to expand the Plaza parking garage at 600 W. Weatherford St. in Fort Worth. Construction is expected until June 2026. The work will bring a full road closure on 100 N. Cherry St., and sidewalk closures on parts of W. Weatherford St. and W. 1st St.

In Q2, the Conference Board’s Measure of CEO Confidence fell 26 points, bottoming out at 34, the largest quarter-over-quarter decline since the survey began in 1976. The Conference Board is a non-profit think tank that provides business insight and research for its members.

Texas public college and university presidents will be able to take control of their faculty governing bodies if Gov. Greg Abbott signs a bill before him. 

Vietravel Airlines, the country's first conglomerate to own airline and airport assets, renewed its Passenger Service System contract with Sabre for five years. Vietravel Airlines aims to expand passenger and air cargo services.

The Fort Worth communications department received five statewide awards, including three for first place. The winning categories included: Special Publication (Fort Worth Animal Care & Control coloring book); Marketing Public Service Announcement (2050 Comp Plan/M1M) and Regular or Recurring Program (“Fort Worth Forward”).

Cook Children’s Center for Community Health has released its findings on family and children health needs from the first two sessions of its Cook Children’s Child Health Summit.(Session 1, Session 2)

Westlake-based Schwab Asset Management has reduced operating expense ratios for four equity index ETFs and announced forward share splits on six mutual funds.

More than half of U.S. warehouse space built during the first quarter of 2025 is vacant, according to Bisnow.

Snippets:

• The iconic Goodyear Blimp is celebrating it’s 100th anniversary. 

• Rock and Roll Hall of Fame member Sly Stone passes at 82.

• New grads are joining the worst entry-level job market in years.

• Dublin City University signs a partnership agreement with Tarleton State University for international studies and study abroad programs.

Daily digit: $18.14 = The average price of a large pizza at the top five chains, up 30% from 2019. Pizza has seen some of the most robust inflation within the restaurant industry, with the median pizza restaurant meal price increasing 12% from the end of 2023 to 2024. They are outpacing burger restaurants (7%), sandwich shops (5% cold, 9% hot) and Mexican (7%).

Significant stat: U.S. home listing prices hit an all-time high in April, signaling a potential shift toward a buyers' market, according to industry experts. The value of homes in the U.S. rose 20.3% from a year ago, reaching a record $698 billion, according to a report from Redfin.

Announcements:

• The Capital Grille: After 19 years, Gloria Starling, currently the Managing Partner in Fort Worth, is leaving.

• TCU: Selects Reuben F. Burch V, as Vice Provost for Research to increase funding and scholarly productivity. He starts Aug. 1.

• Medical City Healthcare: Names Dr. Alan Harmatz Chief Medical Officer. 

• Keller ISD: Names interim superintendent Dr. Cory Wilson the only finalist in the district’s superintendent search.

• Fort Worth Hispanic Chamber of Commerce: Says goodbye to Executive Assistant and Office Manager Isabella Lozano, who is leaving for Univision.

• Frost Bank: Appoints Landon Autrey, Assistant Vice President of Corporate Banking, as Community Leader for Southlake market.

• National Farm Life Insurance Co.: Appoints Dr. David Barrera, Texas A&M Vice Chancellor Kim McCuistion, and Texas Tech Vice Provost Cindy Akers to its Board of Directors.

• TrustRadius: Honors eight ECI Software Solutions products with Top Rated Awards. 

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