Construction is expected to begin by the end of this year on a San Tan Valley retail development that aims to bring restaurants, stores and medical offices to an “underserved” market.
Scottsdale-based Diversified Partners expects to receive permits in the next three months to move ahead with its project at Ironwood and Ranch roads, Walt Brown, the company's CEO, said.
The development includes about 24 acres and will include about 25,000 square feet of retail and restaurant space, along with a 50,000-square-foot medical building, which is under contract with OrthoArizona, an orthopedic clinic and care provider.
Brown said the company already has some commitments from businesses in the retail portion, including a “really great Italian sit-down restaurant,”
a Honey Baked Ham Company location, a dentist office and a few other uses.
The site has gotten a lot of demand from businesses interested in locating there, Brown said.
“The area has been underserved with great restaurants and good service retail,” he said. “The neighbors are excited about the project coming on board and being successful. It’s an underserved retail area.”
While there are several tenants that have committed to the site, Brown said there is still space available, including the corner parcel and another pad space. The company has received a few letters of intent from businesses, but those sites do not have a finalized lease, he said.
In addition to the commercial development, three single-family, ranch-style homes will be built along Murphy Avenue to create a buffer between the nearby residential neighborhood and the commercial project, Brown said.
He expects the buildings to be completed near the end of 2027.
Diversified Partners has several other holdings and projects in the area, like a 13-acre project that includes Wendy’s, Dutch Bros and Filiberto’s.
The company is also working on several other high-profile projects in the Valley, leading the conversion of an office building in Scottsdale into a retail and restaurant development. Brokers from Diversified Partners are also leading the retail leasing at the Metropolitan, the redevelopment of Metrocenter Mall in Phoenix.
Corina Vanek covers development for The Arizona Republic. Reach her at cvanek@arizonarepublic.com. Follow her on X @CorinaVanek.
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This article originally appeared on Arizona Republic: San Tan Valley retail, medical to begin construction this year
