Matthews has expanded its presence in Dallas’ Cedars neighborhood with the acquisition of a 2 million-square-foot former Sears Roebuck distribution center at 1600 Roe Street. The Dallas-based developer did not disclose the financial details of the transaction, but the property’s taxable value is listed at $18.9 million, although its market value may be higher.
The deal was completed with California-based LBA Logistics, which had previously branded the 39-acre site as Cedars Commerce Center. Davidson Bogel Real Estate brokered the sale.
The warehouse is located behind South Side on Lamar, another former Sears facility that Matthews converted into apartments, offices, and retail space about twenty years ago. That project played a role in transforming the Cedars from an industrial area into a creative district and currently houses Matthews’ own offices.
Matthews President Jack Matthews told the Dallas Morning News that while specific plans for the new property have not been finalized, mixed-use development is being considered. In a statement, Matthews said, “Nearly 1.8 million people visit the Cedars annually.” He added that the redevelopment could become a flagship property and significantly increase commercial activity in the area.
The history of the building reflects changes in the neighborhood itself. It was once central to Sears’ national operations before being repurposed for industrial use and then remaining mostly unused until this recent purchase by Matthews.
Founded in 1994 and now headquartered in Lewisville, Matthews—formerly known as Matthews Southwest—has developed several major projects in Dallas such as Omni Dallas Hotel and Gilley’s Dallas. The company also donated land for the Dallas Police Department headquarters and is managing part of the Kay Bailey Hutchison Convention Center redevelopment through its affiliate Inspire Dallas.
Regarding future plans for Roe Street, Matthews stated that input will be sought from tenants, investors, and community stakeholders to determine how best to proceed with redevelopment.
