More parking — for automobiles, not horses — is coming to the Fort Worth Stockyards.
M.L. Leddy’s and the Franklin family, in partnership with Parking Systems of America, began to turn dirt on a $14 million, four-and-a-half-story structured parking garage at Ellis Avenue and NW 25th Street on Oct. 8.
The garage will replace an existing surface lot adjacent to M.L. Leddy’s, one of the most heavily used parking areas in the district. When completed, the garage will add approximately 246 parking spaces, increasing parking availability on the west side of the Stockyards by 32%. Construction is expected to start within weeks.
“Today’s groundbreaking is a milestone for M.L. Leddy’s, the Franklin family and the entire Stockyards community,” said Mark Dunlap, M.L. Leddy’s general manager. “For more than 85 years, M.L. Leddy’s and the Franklin family have invested in this district with a deep respect for its history and character. This project reflects that same commitment by adding thoughtful parking capacity that supports visitors, businesses and nearby neighborhoods as the Stockyards continue to grow.”
A 2023 city of Fort Worth Stockyards Traffic Study identified severe overcapacity and circulation issues in the Stockyards’ core, particularly along Ellis Avenue, Exchange Avenue and NW 25th Street.
Growth has strengthened the Stockyards as a national tourist destination with a reported 10 million visitors annually, but it has also placed increased demand on limited surface parking resources. Most streets in the Stockyards core are operating above the desired 85% parking capacity, according to the study.
The longtime bootmaking family opened their M.L. Leddy’s Stockyards location with its iconic neon sign in 1941.
The city of Fort Worth recently installed a new banner on the west side of Exchange Avenue to help draw visitors to that side of the district.
Transformers, eh?
Hammond Power Solutions, one of the largest manufacturers of dry-type transformers in North America, announced it plans to establish manufacturing operations in Fort Worth, though it has yet to identify the location.
According to the Ontario, Canada company, the facility will expand Hammond Power’s ability to serve U.S.-based customers requiring large standard and custom-engineered transformers. The new Fort Worth plant will be located near key customers. Hammond Power’s customers include data centers, the energy industry and commercial and industrial construction.
The company said it expects to invest approximately $35.2 million in the initial production phase of the plant.
That’s expected to begin in the fourth quarter of 2027 with full production anticipated in the first quarter of 2028.
Real estate
LanCarte Commercial has completed the sale of 1420 Markum Ranch Road, an 18,500-square-foot industrial building on 2.04 acres, to Universal Systems, a long-standing tenant that has transitioned from leasing to ownership.
Sarah LanCarte, Finn Wilson and Riley Dean of LanCarte Commercial represented the seller, Prattco Creekway, in the transaction. Universal Systems, represented by Brett Carlton and Forrest Cook of Stream Realty Partners, purchased the facility to convert years of leasing into permanent ownership while supporting its continued growth. The acquisition reflects a broader shift in industrial real estate, with more industrial owners moving toward ownership. Owner-user sales volume reached a record $12.6 billion annualized in the second quarter of 2026, according to LanCarte.
LanCarte Commercial continues to provide leasing services for the remaining available industrial space owned by Prattco Creekway within the Markum Ranch business park.
Meanwhile, in Mansfield, LanCarte Commercial has facilitated the sale of a 1.42-acre commercial development site located at the intersection of FM 157 and Watson Branch Lane. Mark Boone of LanCarte represented the seller. Rudy Vasquez, an individual developer, represented the buyer.
On the west side of Fort Worth, Strive has announced the sale of Tarrant West Plaza at 1701 S. Cherry Lane to 10 Federal. Harrison Beethe of Strive represented the seller. Additional terms of the sale were not disclosed.
Mergers and acquisitions
Mansfield-based TA Services, a division of PS Logistics, has acquired the assets and operations of Carmen Pacheco Transportation and Interload Forwarding. Both are family-owned transportation and logistics businesses serving customers in North America. The acquisition expands TA’s cross-border transportation and warehousing capabilities and strengthens its presence in El Paso and Laredo.
The transaction includes trucking assets, five warehouses totaling more than 550,000 square feet, and a truck yard of approximately 10 acres. No price for the transaction was released.
Getting on board
Fort Worth insurance, financial services and employee benefits company Higginbotham has given full division status to the company’s rapidly growing transportation specialty practice. That will give the team greater ability to invest in transportation-specific staff, services and industry initiatives, according to the company.
The move comes as trucking companies, freight brokers and insurers face a convergence of legal, insurance and operating pressures, according to Higginbotham.
“Transportation insurance is a highly specialized business,” said Rusty Reid, Higginbotham chairman and CEO. “The claims, legal environments, insurance markets and operating risks are different. This team knows what they’re doing, deeply. And that gives us a tremendous ability to keep serving our clients — and keep growing.”
Do you have news for Bob on Business? Contact Bob Francis, business editor for the Fort Worth Report, at bob.francis@fortworthreport.org.
Disclosure: Higginbotham is a financial supporter of the Fort Worth Report. News decisions are made independently of our board members and financial supporters. Read more about our editorial independence policy here.
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