Diversified Partners Announces Major Development at Val Vista and Mercy in Gilbert
Diversified Partners announces a major 11-acre development at Val Vista Drive and Mercy Road in Gilbert, Ariz. The project will include hotel, office, and retail mixed-use. The development is directly south of Dignity’s Mercy Gilbert Hospital and lies in the heart of the Mercy Gilbert medical district. Diversified Partners has teamed up with Andy Jackson to co-develop the property.
Diversified Partners has a unique vision for the property that includes two-story retail/restaurant/office space on the frontage of Val Vista Drive. These buildings include drive-thru restaurants that actually go through the buildings. It is a similar concept to Diversified Partner's project on Scottsdale Road and Chauncey Lane (where the restaurant Cold Beers and Cheeseburgers is located).
The eastern half of the property is slated for a large five-story medical building and a five-story extended-stay hotel. Offsite work will begin in the first quarter of 2021.
“This is a legacy property that will grow in importance for years to come,” said Walt Brown, founder, and CEO of Diversified Partners. “The Town of Gilbert has been wonderful to work within expediting permitting for this site. We are very appreciative and expect the rest of the process to go smoothly.”
Key points about the area include:
· Signalized intersection
· $1 billion of underserved retail/restaurant opportunities within five miles
· Over 76,000 in daytime population within three miles
· Median household income of $99,647 within five miles
· Numerous developments happening within a one-mile radius, including a new Phoenix Children’s Hospital opening in spring 2021
In addition, Diversified Partners has purchased the property directly to the south and plans to develop a new fuel station along with two freestanding quick-service restaurant concepts. The area has a shortage of restaurants and the company is working to help fulfill the needs of the community.