You could update the underlying dataSource *without* triggering a rebind to the grid and then just updating the cell text.
This is paraphrased from my own code where I want to update cells in the grid without triggering a complete redraw. I'm not sure how well this will scale but it works for reasonably sized grids. Please note, this is an untested snippet copied and modified from my code.
grid = $(
dataSource = grid.dataSource;
locationColumnIndex = grid.wrapper.find(".k-grid-header [data-field=location]).index();
dataItem = dataSource.get(Id of changed entity);
dataItem.location = newLocation;
// Does not trigger a grid redraw as we did not use .set()
// Update text of cell manually to reflect the change to the dataItem without rebinding the whole grid.
"tr[data-uid=' + dataItem + "
" + locationColumnIndex + "