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- đSportico: UT athletes received $11M+; JCPenney merger "mauls" competitors; Kimbell Royalty, UFL make large deals.
đSportico: UT athletes received $11M+; JCPenney merger "mauls" competitors; Kimbell Royalty, UFL make large deals.
Plus more bite-size news you can use about business in Tarrant County.
Wednesday evening, the Fort Worth Fire Department responded to an explosion at an Oncor electrical substation on the north side of Fort Worth. There were no injuries and the cause is under investigation.
Fort Worth-based Kimbell Royalty Partners, owner of oil and gas mineral and royalty interests in approximately 17 million gross acres across 28 states, has agreed to acquire mineral and royalty interests held by a private seller in a cash and unit transaction valued at approximately $231 million. The location is under the prolific Mabee Ranch in the core of the Midland Basin across 68,000 gross acres.
Rock-solid foundation: The United Football League is keeping its headquarters in Arlington after completing what may be the largest office deal in Tarrant County during the past two years. It signed a 111,409-square-foot lease at Ballpark Circle, according to Fort Capital LP, which owns the two-building office complex within the Arlington Entertainment District. The lease covers two floors, where the UFL will host administrative, operational and team activities. The Dallas Business Journal has the details.
Fort Worth-based Stellar Blu Solutions has been acquired by Israel-based Gilat Satellite Networks Ltd. in a deal valued at $98 million in cash. Stellar Blu Solutions is a provider of next-generation SATCOM terminal solutions. Tracy Trent is the CEO.
Tarrant County hires a new chief to run the county jail amid deaths and lawsuits. Shannon Herklotz left the Dallas County Sheriffâs Office to become the day-to-day operations jail administrator.
A zombie mall store king is born: JCPenney merges with the company that owns Forever 21. The merger represents a gamble that combining the brands will create a powerhouse of mall staples, and also happen to have Americaâs largest mall operators as financial backers. Together, there are 60k employees and $9 billion in revenue.
Abercrombie & Fitch plans to open its first store in Fort Worth at University Park Village, according to a city building permit application. The apparel retailerâs 5,200-square-foot store is scheduled for completion in June.
Provident Data Centers has entered into a joint venture with PowerHouse Data Centers to develop a hyperscale campus in Grand Prairie. When complete, it will be one of the largest data center campuses in the U.S.
The medical director of the Texas Medical Board has retired, less than two weeks after conservative lawmakers publicized his employment with a Planned Parenthood laboratory. Dr. Robert Bredt has worked as medical director for the agency since 2012, earning $185,000 a year.
Private equity firm Trinity Hunt Partners sold its investment in Aperture, a leading forensic expert witness services firm based in Arlington. Genstar Capital was the buyer.
Notable and quotable: âThe fact of the matter is that we have so many people moving here and too little construction for that to happen.â
Westlake-based animal health company Virbac has collaborated with Emmyon to introduce URSOLYX Soft Chews, a muscle and strength support product for aging, active or recovering dogs.
Fort Worth-based M2G Ventures reported two transactions. In south Austin, it acquired a 50k-square-foot, mixed-use property at 211 E. Alpine Rd. The deal was made in partnership with Austin-based Evergen Equity. In Farmers Branch, M2G sold a 241k-square-foot, 9.73-acre parcel to Columbia, Maryland-based WareSpace. The land is part of the former Tuesday Morning distribution center, which M2G acquired in December 2020.
Serko completes its previously announced $12-million acquisition of GetThere from Southlake-based Sabre.
Beginning in February, Community Impact newspaper readers will get a taste of Texas ... Monthly. The two publishing entities will collaborate with excerpts from the magazine appearing in newspapers.
Sportico breaks down the $11+ million in NIL payments to University of Texas athletes and total expenses of $13.3 million.
Great irony: The Dallas Regional Chamber will hold its Annual Meeting at Globe Life Field in Arlington.
General Motors sold more vehicles in the U.S. during 2024 than any other domestic manufacturer. The company sold 2.7 million cars, a 4% increase over 2023 and its highest total since 2019.
Here are the top 5 library books rented in 2024 for children, teens, and adults, according to the Fort Worth Public Library.
An overwhelming majority of Bisnow's responding readers see lower interest rates and more people showing up to work at the office, according to 1,400+ respondents to its 2025 predictions survey. However, they are tempering their optimism because rates remain higher, taxes, potential tariffs, and concerns in the commercial real estate market.
Tesla CEO Elon Musk filed an appeal with Delawareâs Supreme Court after a state judge rejected his $56-billion compensation package for the second time.
Believe it or not: A toaster-shaped device lets you charge your phone in only two seconds.
Congratulations to reader Jeff Miley, winner of two dozen embroidered polo shirts compliments of the crew at Printed Threads, a full-service merchandise company.
Restaurant roundup:
Tabla Indian Restaurant will open in late January at 5633 N. Tarrant Pkwy. in the Shops at North Tarrant shopping center. Itâs the first Texas location for the Florida-based chain.
Hao Tran, owner of Haoâs Grocery and CafĂ©, will open a cafe and market called Duong DeVille this year at 405 Jim Wright Fwy. in White Settlement.
Heim Barbecue has closed its Burleson location and will open a Weatherford location at 1910 S. Main St. this fall.
The Cisneros family has completed the relocation of its Tex-Mex restaurant, Los Vaqueros, to the Stockyards Exhibits Building at 2513 Rodeo Plaza and is open.
Mountain Mikeâs Pizza, a pizza chain from California, has opened a location in Keller at 1521 Keller Pkwy.
The 2024 holiday season saw online spending hit $241.4B â up 8.7% from 2023, according to Adobe. Cell phones drove 54.5% of purchases, the âmost mobile of all time.â Flexible payment options such as âbuy now, pay laterâ contributed $18.2B. Discounts of up to 30% on electronics and toys spurred sales, alongside generative AI tools, which boosted retail online traffic by 1,300%.
Tee-rific ratings: TGL, Tiger Woods and Rory McIlroy's indoor golf league, saw an average viewership of 919,000 in its Tuesday night debut; that's ~2x the viewership of the PGA Tour's final round broadcast of The Sentry (461,000).
Annual reaction of commuters to snowfall in north Texas.
Announcements:
SEDALCO: Promotes Tyler McCarty to President.
Southwest Airlines: CFO Tammy Romo to retire April 1 after three decades.
Texas Senator Bryan Hughes: Hires Andrew Scott as General Counsel.
Business Facilities: Selects Embraer maintenance, repair and overhaul facility in Fort Worth as its 2024 Impact Award for Advanced Manufacturing.
Texas: Gov. Abbott appoints current Chair of the Texas Water Development Board Brooke Paup as Chair of the Texas Commission on Environmental Quality.
Frankel Associates: Launched by Bruce Frankel for executive, board and non-profit training.
FW Museum of Science & History: Selects Beyond the Box Catering as official caterer.
Adolfson & Peterson Construction: Promotes Granger Hassmann to President of the Gulf States region.
ClearSky Rehabilitation Hospital of Mansfield: Names Dr. Kurt Voss Medical Director.