S2 Expands Sun Belt Portfolio with Fort Worth Industrial Campus Acquisition

S2 Industrial, the industrial real estate portfolio company of S2 Capital, recently announced the expansion of its Sun Belt footprint through a new acquisition. Specifically, the company recently completed the purchase of a 31-building campus in southeast Fort Worth.

Located at 5721 E. Rosedale St., the property incorporates more than 589,000 square feet of Fort Worth industrial space that will reportedly be rebranded as Panther City Industrial Park, according to the statement of sale.

The industrial park’s infill position places it within one of the most active industrial corridors in the Dallas-Fort Worth metroplex. Panther City Industrial Park is situated along Loop 820, a submarket defined by strong tenant demand, constrained supply, and limited competing new deliveries. The campus location offers tenants immediate connectivity to Interstates 20, 30, and 35W.

Acquiring the shallow-bay industrial park marks the latest move in S2 Industrial’s accelerating Sun Belt footprint expansion strategy. Founded in 2024, the Dallas-based industrial real estate investment platform has focused on opportunistic, value-add, credit, and core-plus oriented investment decisions. The platform currently manages more than 8.5 million square feet of industrial assets.

“This is the kind of deal we get excited about, and we see a clear path to value creation here,” said Parker McCormack, chief investment officer of S2 Industrial. “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.”

Adding value to the new asset begins with plans to reposition the property. Exterior renovations to common areas and building facades had already been completed by the previous owner, which gave S2 Industrial a head start in that respect. Plans going forward include upgrading the suite interiors and executing a targeted leasing effort to increase occupancy.

According to our latest monthly national industrial report, industrial rents in the DFW market averaged $6.97 per square foot in May, while vacancy rested at just below 7% — both well below the national average of $9.12 per square foot for rents and 8.8% for vacancy. Industrial sales in the market surpassed $2.33 billion during the first five months of the year, which marked the largest year-to-date sales total in the country, at the start of June. Notably, following an expansion of 13.5% in May, the DFW under-construction pipeline reached 32.6 million square feet, which was by far the largest in the country at the start of June.