🏁IndyCar Grand Prix races in; Donohue, Marshall easing out; Big building, big sale.

Hillwood announced it would break ground this month on a 1.1-million-square-foot, Class A, speculative industrial building called Alliance Westport 24 in AllianceTexas. The building, expected to be completed in about a year, will offer direct access to FM-156 and the BNSF Railway Alliance Intermodal Facility. Roadway infrastructure improvements will allow access to Hillwood’s planned Mobility Way, providing autonomous trucking for the area. Also planned are up to 704 on-site trailer parking spaces.

Sean Donohue, CEO of the third-busiest airport in the world, announced he will retire from Dallas Fort Worth International Airport in 2025. He will remain to support the transition during the search for his successor. Donohue has spent 40 years in aviation, including his leadership at D-FW since 2013. He has positioned D-FW to continue growing as it embarks on a $9-billion capital improvements program that includes overhauling its oldest terminal and constructing a sixth terminal.

Pinnacle Bank, which foreclosed on the 40-story Burnett Plaza building earlier this year, has sold it to Swiss Burnett LLC, a Stephenville company that took out a $67.54 million loan with the bank for the deed of trust. Seth Bodine with the Dallas Business Journal said the company is connected to developer Andy Hansen. Pinnacle sold it as a special warranty deed, which transfers ownership while limiting a seller's liability. Hansen is the president of Trafalgar Homes, a real estate firm.

The Penske Corporation, the Dallas Cowboys and the Texas Rangers announced the Grand Prix of Arlington, a new street race on March 26 on the 2026 NTT IndyCar Series schedule. The 2.73-mile track layout will race around AT&T Stadium and Globe Life Field.

General Motors Co. was so proud of its electric vehicle battery when it showed it off four years ago that it gave it a name: Ultium. Now the name — and if all goes well, the associated baggage — is disappearing amid a broad strategic shift led by a new battery boss, former Tesla Inc. executive Kurt Kelty.

DrinkPak's $452-million plan for two manufacturing factories in Fort Worth has been trimmed to one building at Carter Park East... for now. CEO Nate Patena told the Dallas Business Journal that the largest aluminum can beverage facility in the world would be ready next September. The proposed second plant at Trammell Crow's 35 Eagle campus in southern Denton County fell through because of construction challenges. Patena said if and when the company adds a second facility for milk and milk alternative products, it will likely be in Fort Worth.

Dallas Mavericks CEO Cynt Marshall, who re-shaped and energized an organization during one of its darkest periods, announced three weeks before the season starts that she will retire Dec. 31. Marshall turns 65 Dec. 15. 

Cover2 Capital is building a multi-family development at 6401 Smithfield Rd. in North Richland Hills. Wheelhouse will feature 277 apartments, 10,000 square feet of retail and a three-story, 130,000-square-foot parking garage, according to a state filing. The project is expected to cost $59 million, or about $213,000 per unit. 

First came Helene. Now comes Milton. There is precedent, writes Bisnow: One month after Hurricane Katrina hit Louisiana in 2005, Hurricane Rita struck, triggering $6.8B in additional insurance claims. Combined Katrina-Rita losses totaled more than $50B and caused premiums to spike up to 50%. Insurers pulled back aggressively, with re-insurance costs jumping 76% and commercial property premiums rising 40% in Louisiana and parts of Texas. 

Sam’s Club is opening its first all-digital store in Grapevine this month. Customers will be required to use an app called Scan & Go to ring up purchases as they walk through the aisles in lieu of checkout lanes. The club will display online-only items and will have a larger area for fulfilling e-commerce orders for curbside pickup and home delivery. Sam’s Club has been trying to differentiate itself from Costco and other rivals with technology.

Lockheed Martin and the U.S. Department of Defense agreed on goals the defense contractor can reach this year to receive part of a potential $500-million payment that was withheld for F-35 jets in need of hardware and software upgrades. Lockheed has agreed to pay $350 million for F-35 software testing.

New York-based Local Projects will design immersive, interactive exhibitions for the National Juneteenth Museum in Fort Worth. The museum will feature multimedia installations and historical artifacts, and is scheduled for a 2026 opening. 

Neighborhood Fort Worth wine bar WineHaus has been purchased by Deanna Stuart. The Near Southside neighborhood hangout has 16 wines on tap and a rotating selection of bottles from independent growers.

The small business disaster loan program is in danger of running out of funds by the end of October.

Snippets:

• Fort Worth-based Linear Labs is revolutionizing electric motors. Is it too good to be true?

• If you want to contribute to a disaster area, here’s the best way to help.

• A federal judge ordered Google to open its Android app store to competition.

Fort Worth Sister Cities International has selected Kippen de Alba Chu as its next president and CEO, effective Monday. The organization said Alba Chu's experience in international relations and non-profit leadership stood out. De Alba Chu, a native of Hawaii, was at one time the interim President and Chief of Staff of the Fort Worth Museum of Science and History. He succeeds Mae Ferguson, who is retiring after 25 years.

Nothing to do with business: Merriam-Webster added 200 new words and definitions to its dictionary, including “street corn,” “nepo baby,” and “IDGAF.”

Daily digit: $206.2 billion = What Meta Platforms Inc. CEO Mark Zuckerberg’s net worth reached last week, eclipsing Amazon founder Jeff Bezos ($205.1 billion) for second place on the list of the world’s wealthiest people. Elon Musk ($256 billion) ranks first.

Announcements:

• Fort Worth Naval Air Station JRB: Promotes Captain Robert Crawford to Battalion Chief. 

• Cantey Hanger: Adds associate attorney Emily Campbell, Caroline Garcia, Ethan Lennon and Madeline Royal.

• Kelly Hart: Adds associate attorneys Lauren Brownlee, Matthew Francis, Stephanie Garner and Chanel Thomas.

• Pham Harrison: Adds associate attorneys Sharon Pickrell and Michael D. Betrus.

• Sanara MedTech: Jim Stuckert resigns as Board Director, continues as Director Emeritus. Keith Myers is appointed to serve as a Board Director.

• Catholic Charities Fort Worth: Hires Meghan Parker as Housing Specialist.