S2 Capital Buys 31-Building Fort Worth Industrial Park: The DFW Deal Sheet
S2 Capital’s industrial real estate portfolio company expanded its Sun Belt footprint with a huge acquisition in Dallas-Fort Worth.
S2 Industrial purchased the 31-building industrial park at 5721 E. Rosedale St. in Fort Worth. The 589K SF, multitenant campus along the Loop 820 corridor will be rebranded as Panther City Industrial Park.
"This is the kind of deal we get excited about, and we see a clear path to value creation here," S2 Industrial Chief Investment Officer Parker McCormack said in a statement. "The park fits our investment criteria almost perfectly, the submarket dynamics are favorable, and our industrial platform is built to execute on exactly this type of value-add opportunity."
Exterior renovations across Panther City's common areas and building facades were completed by prior ownership, giving S2 a head start on repositioning. The team's business will center on directing capital toward upgrading suite interiors and executing a targeted leasing effort to drive up occupancy.
On-site property management will be handled by S2 Industrial's property management platform, Fort Management.
SALES
Houston-based private capital firm SW Group bought the nearly 122K SF Decatur Self Storage facility at 1100 E. Business 380 in Decatur. The facility is on nearly 20 acres and contains 689 storage units across 14 single-story buildings. Originally built in 1980 and expanded in 2018, the property was around 94% occupied at the time of sale.
Marcus & Millichap’s Danny Cunningham and Brandon Karr marketed the property on behalf of the seller, a family-owned self-storage operation that had owned and operated the facility for decades.
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Harkinson Investment Corp. purchased the 229K SF Tower 2600 office building at 2600 N. Central Expressway in Richardson in its first major office investment in more than 25 years. The nine-story building was built in 1999 and received more than $10M in capital improvements since 2020 from seller Deven Group, a subsidiary of Japan-based Kajima Corp. Newmark’s Gary Carr brokered the deal, and the firm’s capital markets team represented the seller. Acquisition financing was provided by First United Bank.
CONSTRUCTION AND DEVELOPMENT
Suffolk, in partnership with Post-L Group, broke ground on the Children’s Health Specialty Center RedBird pediatric center at The Shops at RedBird in southern Dallas County. The facility will provide access to urgent care, primary care and behavioral health services as well as a range of pediatric specialties. The project will create a 40K SF patient environment while surrounding facilities remain operational throughout construction.
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Big V Property Group, The Seitz Group and Principal Asset Management started construction of Rosamond Town Center in Anna. The nearly 356K SF open-air center at the southeast corner of Rosamond Parkway and U.S. Highway 75 was financed with a combination of developer equity, financing from Principal Asset Management and a construction loan from Citizens Bank.
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Rosewood Property Co. and partner MetLife Investment Management opened the 338-unit The Buckley multifamily property at 600 Kissimmee Drive in Plano’s Heritage Creekside development. The property’s outdoor spaces and hospitality-inspired interiors were designed by B2 Design Co.
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Crescent Constructors, an affiliate of Zachry Construction Corp., was awarded the Prairie Creek Wastewater Treatment Plant Aeration Basin expansion project for the city of Lewisville. The project will increase the plant’s operating capacity by 33% through aeration basin expansion, rehabilitation and system upgrades.
Since the facility will remain operational during construction, Crescent’s team will coordinate phased construction activities to minimize disruption of plant operations. The project is scheduled to be completed in November 2028.
PEOPLE
Ryan named Jonathon Travis its president of global technology. Travis will focus on unifying the firm's technology, software and artificial intelligence initiatives to accelerate innovation and drive business outcomes. He joined Ryan following the company's acquisition of EnerTax in 2015.
THIS AND THAT
NAIOP, the association for commercial real estate developers, owners, investors and related professionals, formerly known as the National Association of Industrial and Office Properties, changed its name to the Commercial Real Estate Development Association. The North Texas chapter, formerly known as NAIOP NTX, will now be known as CREDA DFW.
