Las Vegas Developer
Focuses on Community & Transformation
Published September 10, 2019
Who is Matter Real Estate Group and what are the various projects that you have under development in the Las Vegas valley at the moment?
Matter Real Estate Group is bringing a fresh approach to development by focusing on the spaces from the “inside out”. From a design perspective we always ask first: “What will it feel like to work here?” We start our visioning with intention, and a people first strategy.
Matter’s most exciting project now is our mixed-use project at Durango and the 215 called UnCommons. This project will be transformational to southern Nevada and has been very exciting to be a part of from the beginning. UnCommons addresses the need for progressive office space to serve the future workforce, something that Las Vegas has been late to the party with.
Matter is a team of known friends that have worked together for a long time. The partners have experience in the Las Vegas market that dates back 30 years. Jim Stuart was the vision behind Town Square in Las Vegas, and recently started Matter with Las Vegan Kevin Burke (from Burke Construction) and real estate finance guru Matt Root, from San Diego. We were initially focused on industrial developments in Southern Nevada where we’ve completed one project and sold it in North Las Vegas and currently have over 1M square feet under development from North Las Vegas to Henderson.
Why did you choose Las Vegas to develop these projects?
Matter’s principals’ have a long history and foundational roots in Las Vegas which has given them a deep understanding of the market. I’m a native Las Vegan and a UNLV graduate, Jim Stuart is also a UNLV graduate and has had several businesses here, and Kevin Burke lives and operates his construction company here. Relationships are very important, particularly when you’re an early-stage company, and we’ve been able to leverage ours in order to garner support for these projects. We have offices in both Las Vegas and San Diego.
"The reason for diversifying the types of spaces that we’ve built
is in order to serve the different types of businesses that are growing
or coming into the region, as our economy continues to grow."
What type of tenants do you think will be attracted to your developments?
UnCommons is a different story all together, as it brings together Class A office space, curated lifestyle services, restaurants and retail along with a large upscale apartment community. We’re building several different styles, so the type of tenants we attract is going to be diverse. For instance, we are building industrial condominiums that are for purchase and range from 6,000 to 28,000 square feet, while Matter Park @ West Henderson is space for lease, starting at 2,700 square feet. And we can accommodate a 500,000 SF large industrial user in North Las Vegas at Matter Logistics Center @ West Cheyenne. The reason for diversifying the types of spaces that we’ve built is in order to serve the different types of businesses that are growing or coming into the region, as our economy continues to grow.
The UnCommons development is a mixed-use space with curated lifestyle services, restaurants, retail, and an upscale apartment community.
"We lack the curated workplace experiences that are seen in other cities,
such as San Francisco, New York, and Los Angeles…."
What makes your projects so unique?
On the industrial side, we try to think about the projects, not from the ROI perspective, but from the “occupiers” perspective. By thinking about simple things like wind, shade, colors, signage and amenities, we find that we can set ourselves apart from the big institutional guys. Another way we do that is by offering many projects for lease OR sale. Not many developers can be that nimble based on restrictions from their capital partners.
Matter Park @ West Henderson, adjacent to the Raiders training facility.
But, again, I must emphasize how UnCommons is different. We were presented a site at the junction of Durango and the 215 and ended up assembling 35 acres. But rather than going through the usual motions of putting together any ordinary development, we asked ourselves what was missing in the market.
Over the past decade there has been a lack of any quality new office space built in the valley. We lack the curated workplace experiences that are seen in other cities, such as San Francisco, New York, and Los Angeles….sure, but even Portland, Nashville and Austin have multiple successful mixed-use projects. The curation comes from the carefully selected retail lifestyle services. You won’t see corporate flags, but local or regional special artesian offerings that people will love to post on their Instagram. Unlike other projects, we’re uniquely bringing office tenants, apartments, and lifestyle services together from its conception. This has helped us gain so much momentum in the pre-leasing stage.
"As we dug deeper, we realized there are very real societal problems with people lacking true human connection, or loneliness."
The Matter Business Park @ Warm Springs project
features light industrial and office/warehouse space.
Why is this mixed-use concept so important?
With Millennials and Gen Z making up 75% of the workforce in the next few years, we would be remiss not to better understand what is important to them as we envisioned an office-centric project. As we dug deeper, we realized there are very real societal problems with people lacking true human connection, or loneliness. This turns into a business problem with lack of engagement, which led us to the search for true value of community. UnCommons is an idea that what matters to people in life and work is the same….being themselves, having purpose and building relationships with others. Community building is a big part of what makes UnCommons so special.