Matthews Southwest Acquires 157 Acres For Mixed-Use Project
January 14, 2013
Dallas-based development company Matthews Southwest purchased 157 acres on the northwest corner of the Dallas North Tollway and U.S. Highway 380 in the town of Prosper, TX, north of Dallas, where it plans to develop more than 3 million square feet of retail, medical, office, hotel and entertainment space.
The public/private partnership between the town of Prosper and Matthews Southwest is expected to drive more development along the Highway 380 corridor at the intersections of the Dallas North Tollway and Preston Road.
Located 30 miles north of Dallas in Collin and Denton Counties, Prosper is growing rapidly, with a projected build-out population of 70,000 residents.
The land deal is an assemblage of two separate tracts sold by the St. Clair family and Centurion American. Matthews Southwest represented itself in the purchase of the St. Clair land tract, while David Davidson Sr. of Davidson Real Estate Inc. represented Matthews in the purchase of the Centurion American tract.
Ray Utley of A. Ray Utley & Company, Realtors, and John St. Clair of Henry S. Miller represented the St. Clair family as sellers. Ken Reimer, David Davidson Jr. and Edward Bogel of Venture Commercial’s Land Division represented Centurion American.
Venture Commercial will assist Matthews Southwest in securing tenants for the property.
Please see CoStar COMPs #8992115 and #2645120 for more information about these transactions.