Ravi Bonthu Acquires Retail Property In Grand Prairie For $1.65M With Giovanni Gaviria As Buyer's Rep

The asset involved in this transaction is a retail property located at 730 West Pioneer Parkway in Grand Prairie. The transaction was completed for a price of $1,650,000. The property covers an area of 2,830 square feet, resulting in a price per square foot of $583. The property was originally a gas station until 2003 and has since been converted into a multi-tenant retail asset. It is currently leased to Cricket Wireless and La Familia Auto Insurance, with both leases set to expire in October 2026.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $1,650,000
• Address: 730 West Pioneer Parkway
• Market: Grand Prairie
• Square Footage: 2,830
• Price Per Square Foot: $583
• Buyer: Ravi Bonthu
• Buyer's Representative: Giovanni Gaviria - Diversified Realty Exchange, LLC

Giovanni Gaviria successfully represented Ravi Bonthu in the acquisition of the property. The buyer intends to convert the retail property back into a gas station as part of expanding their existing operations. The deal faced various challenges, including financing, insurance, environmental, zoning, and a tight timeline, but was ultimately achieved through teamwork and determination.