Matthews staked an even bigger claim in the Cedars with a recent 2 million-square-foot adaptive reuse on deck.
The Dallas developer bought the former Sears Roebuck distribution center at 1600 Roe Street, a former industrial complex just south of downtown, the Dallas Business Journal reported. The company didn’t disclose financial terms of the project.
The property’s taxable value is $18.9 million, though market value is likely higher.
California-based LBA Logistics was the buyer in the deal, which closed last week. LBA had branded the 39-acre site as the Cedars Commerce Center. Davidson Bogel Real Estate brokered the transaction.
The massive warehouse sits directly behind South Side on Lamar, the former Sears warehouse Matthews famously transformed two decades ago in one of Dallas’ early success stories with historic adaptive reuse.
That building, now home to apartments, offices and retail — including Matthews’ own offices — helped kick off the Cedars’ evolution from industrial zone to creative district.
Matthews President Jack Matthews told the Dallas Morning News the firm hasn’t finalized plans for the property but envisions mixed-use.
Nearly 1.8 million people visit the Cedars annually, Matthews said in a statement. The firm envisions the redevelopment as a flagship property that will more than double commercial activity in the area, he said.
The building’s history mirrors the neighborhood’s. Once a key hub for Sears’ national retail operations, the facility was later redeveloped into industrial space before sitting largely dormant. Matthews’ purchase deepens the developer’s control of a district it has helped redefine.
Founded in 1994 and now based in Lewisville, Matthews — formerly Matthews Southwest — has been behind some of Dallas’ signature developments, including the Omni Dallas Hotel and Gilley’s Dallas.
The company also donated land for the Dallas Police Department headquarters and is overseeing the initial phase of the Kay Bailey Hutchison Convention Center redevelopment through its affiliate Inspire Dallas.
The firm is keeping its options open on Roe Street. Matthews said the next step is to gather input from tenants, investors and community stakeholders to shape what could become the Cedars’ next major transformation.
— Eric Weilbacher
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