GRAND PRAIRIE, Texas – J&Y Cycles LLC has purchased an 8,510-sf retail building at a major intersection in the Great Southwest Industrial District as the new home for Pioneer Powersports
The 1.74-acre property is situated at 1290 W. Pioneer Parkway at a signalized intersection of President George Bush Turnpike/TX 161’s 6.5-mile extension through Grand Prairie. It is directly across the street from a Walmart Supercenter and numerous national restaurant brands, all completed in the past year or two, and positioned a mere two miles east of the buyer’s current location.
“As soon as this listing hit the market, we jumped on it. We were the first offer,” says Josh Meraz
, broker associate of Dallas-based Bradford Commercial Real Estate Services. He and Jim Ferris
, vice president, represented the buyer.
The vacant class B building, developed in 1986, formerly housed Man’s Best Friend veterinary and kennel. Sean Lockovich of Falcon Cos. represented the seller, STORE Master Funding II LLC.
“It’s rare for a hard corner in this part of town to come to market. When it does, it gets sold immediately,” Meraz says.
J&Y Cycles has raced the deal across the finish line in less than 80 days. The relocation date for Pioneer Powersports has yet to be set because the prized location of the just-bought site has the new owner weighing options. More than 70,000 vehicles per days pass in front of J&Y’s new commercial real estate holding.
“They’re developing a plan of action for both sites,” Meraz says, “and flipping the new one is a possibility as is finding a tenant and holding onto it as an investment.”
Pioneer Powersports, presently located at 2470 W. Pioneer Parkway, sells and repairs ATVs, UTVs, dirt bikes and scooters. The owner also leases warehouse space at 2618 Aero Dr. in Grand Prairie.
“J&Y Cycles’ owners had to find a building within a two-mile radius of its existing location because of licensing requirements,” Meraz explains. “In the process of doing that, they were bitten by the real estate investment bug.”
July 9, 2019