The Community Paper

New Veranda owners buy Thornton Park mid-rise retail space


The group of owners who purchased the Veranda property in the Thornton Park District recently made another big purchase, the Thornton Park Retail Center. (Photo by Debbie Gunter)

Correction: The print version and an earlier online version of this story stated that Verax purchased the entire mid-rise building and mispelled Ravi Gandhi’s name. Verax only purchased the ground floor retail space of the building. The headline and article has been updated to reflect this correction.

Less than a month after buying the Veranda, Verax is doubling down on their Thornton Park District investment.

Verax, an investment group comprised of three local doctors, has purchased the Thornton Park Retail Center — the retail space on the ground floor of a five story, mixed-use building on the corner of Summerlin Avenue and East Central Boulevard — for $7.4 million. The ground floor of the condominium building includes popular eateries like Soco Restaurant, Jinya Ramen Bar, a Starbucks and the recently opened F&D Cantina.

Ravi Gandhi, who is a member of Verax, said there are no plans to change or modify the Thornton Park Retail Center.

“We’re not really planning on changing anything there,” Gandhi said. “I think that’s kind of the anchor of the Thornton Park District. We thought if we’re going to help to kind of spruce up the neighborhood, it makes sense to sort of double down on our investment, and if you’re going to kind of revamp something, you might as well hold onto something that’s already stabilized.”

At the Veranda, Verax is in talks with a local brewery that is interested in moving into the retail space where Sperry Deli & Creamery once was, but there is still work to do with permitting, Gandhi said.

“On Washington [Street], I like the idea of that being a brewery just because I kind of see Washington [Street] as being the entertainment component of Thornton Park,” Gandhi said.

On the Summerlin Avenue portion of the Veranda property, Gandhi said they hope to have a grab-and-go food option as well as a retail business open soon.

Gandhi also said Verax is building luxury townhomes at 1000 E. Robinson St. The four buildings will include 13 units with three-bedroom, three-bath floorplans and are expected to be complete by the end of the year.

2 responses to “New Veranda owners buy Thornton Park mid-rise retail space”

  1. Rob Green says:

    They didn’t buy the entire mid rise building. It’s Condos. They only bought the retail space on the ground floor.

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