By BEX Staff for AZBEX
Diversified Partners has announced a $100M investment in a portfolio of commercial real estate projects on the west side of Glendale.
Projects affected by the announcement include the Cambria Hotel, the En Fuego retail development, the North 91st Ave. and Cardinals Way retail development and the North 75th Ave. and West Bethany Home Road commercial space.
The new developments total more than 25 acres of commercial property and all are near major West Valley attractions like Westgate, Desert Diamond Casino, State Farm (Cardinals) Stadium, the Entertainment District and the Loop 101.
While most of the projects consist of small additions to Planned Area Development spaces, the Cambria Hotel development is individually significant. Plans call for a 60KSF, 137-room hotel on 2.29 acres at 9244 W. Glendale Ave.
According to additional information provided to AZBEX and BEX research staff in follow-ups to the initial announcement, Darryl Szarka and Bruno Salamone of DKS Development remain the primary developers on the project. Diversified will provide development services.
As part of an email exchange between BEX staff, Diversified CEO and Founder Walt Brown, Jr. and Diversified communications representatives, the company also provided updates on two other projects. Both the 109-room Residence Inn by Marriott, Gilbert and 33KSF East Gate Plaza Medical Office Building development in Mesa expect to begin construction in Q4 of this year.
Brown said no general contractors have been selected for either project yet, as the timing is still too preliminary, but both are available to bid.
More information on Diversified Partners’ projects in progress is available at www.dpcre.com.