Matthews, a Dallas-based developer, has acquired the former Sears Roebuck distribution center at 1600 Roe Street in the Cedars neighborhood, just south of downtown Dallas. The purchase adds a 2 million-square-foot industrial complex to Matthews’ portfolio, further expanding its presence in the area. Financial details of the transaction were not disclosed.
The property’s taxable value is $18.9 million, but market experts believe its actual value may be higher. California-based LBA Logistics was identified as the seller in a deal that closed last week. The site had previously been branded as Cedars Commerce Center and spans 39 acres. Davidson Bogel Real Estate brokered the sale.
The warehouse sits behind South Side on Lamar, another former Sears building that Matthews redeveloped into apartments, offices, and retail space about twenty years ago. That earlier project is credited with helping transform the Cedars from an industrial zone into a creative district.
Matthews President Jack Matthews told the Dallas Morning News that plans for the new property have not been finalized but suggested a mixed-use redevelopment is likely. In a statement, Matthews said: “Nearly 1.8 million people visit the Cedars annually.” He added that his firm sees this redevelopment as “a flagship property that will more than double commercial activity in the area.”
The history of the building reflects changes in the neighborhood itself; once serving as a key hub for Sears’ national operations before being used for industrial purposes and then sitting mostly vacant.
Founded in 1994 and now based in Lewisville, Matthews—formerly known as Matthews Southwest—has led several major projects in Dallas such as Omni Dallas Hotel and Gilley’s Dallas. The company also donated land for Dallas Police Department headquarters and is overseeing part of the Kay Bailey Hutchison Convention Center redevelopment through its affiliate Inspire Dallas.
Matthews said input from tenants, investors, and community stakeholders will help determine future plans for Roe Street.
