Matthews Acquires 2 MSF Industrial Campus

October 20, 2025

Investment Dallas Industrial News More Southwest

The buyer will likely redevelop the multistory property as a mixed-use project.

Matthews has acquired a nearly 2 million-square-foot, two-building, multistory former Sears Roebuck distribution center in the Cedars district of Dallas, it was announced Friday by Davidson Bogel Real Estate, which brokered the transaction. The seller and most recent occupant was LBA Logistics.

Two-building, multistory former Sears Roebuck distribution center in the Cedars district of Dallas — Matthews has acquired a nearly 2 million-square-foot, two-building, multistory former Sears Roebuck distribution center in the Cedars district of Dallas. Image courtesy of Davidson Bogel Real Estate

The two- and five-story complex, also known as the Cedars Commerce Center, carries the street addresses of 1500 and 1600 Roe St., according to Yardi Matrix data.

LBA Realty had purchased the property from Sears Holdings in 2017 as part of a portfolio sale for an undisclosed price, also according to Yardi Matrix data.

The 2 million-square-foot industrial complex sits on 38.5 acres just south of downtown.

A dollar value for the transaction was not disclosed, and neither Matthews or Davidson Bogel replied to Commercial Property Executive’s request for further information.

Matthews has long been involved in the Cedars area, with projects and investments such as the 92,000-square-foot Gilley’s Dallas entertainment venue, more than 900 residential units across multiple developments, the 76-key CANVAS Hotel and the headquarters building of the Dallas Police Department.

Previous experience highly desired

Although Matthews reportedly does not have firm plans for the property, stating that they first want to get input from potential investors, tenants, retailers and hospitality operators, as well as the community, it appears from the announcement that a mixed-use property is likely.

Matthews has some experience with projects like this, having earlier transformed a Sears catalog warehouse into the South Side on Lamar mixed-use development.

Beginning in 1997 with the 1913-vintage Sears Roebuck Catalog Merchandise Center, South Side on Lamar gradually grew to include 466 high-rise commercial and residential lofts. The 40-acre transit-oriented development is just south of the Dallas Convention Center.