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3/30/22
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Three Thirty Three has signed a lease for the last remaining retail vacancy at Watermark Tempe, a mixed-use development totaling 1.9 msf in Tempe, AZ. Built in 2020, the project’s 44k sf retail component and 265k sf, Class A office tower are now 100% leased.
Three Thirty Three will be occupying 11.3k sf of ground floor restaurant space plus patio and rooftop deck space at the project’s marquee entrance. Watermark Tempe’s expansive outdoor patios and one-of-a-kind rooftops overlook Tempe Town Lake. Three Thirty Three is expected to open in time for Super Bowl LVII, being hosted in Arizona.
Watermark Tempe is owned by Los Angeles-based Fenix Development Inc, a privately owned real estate investment and development company. Cushman & Wakefield’s Brent Mallonee, Vice President leads all retail leasing efforts for ownership and sourced the tenant directly.
Situated on the north bank of Tempe Town Lake, Arizona's second-most visited public attraction, Watermark Tempe is a sustainable development that includes 360 luxury multifamily units and a future 250-key business class hotel, in addition to the retail and office space.
Located at the southwest corner of Scottsdale Rd and Loop 202, Watermark is just minutes from Arizona State University, the Mill Avenue District and Oldtown Scottsdale. The project enjoys excellent proximity to executive and staff employee labor pools, a variety of housing options, and numerous area destinations including Sky Harbor International Airport, Downtown Phoenix and other valley communities, especially the broader Southeast Valley.
In addition to Three Thirty Three, Cushman & Wakefield also recently announced that Cession, a Bistro-style restaurant serving "Southern-themed" foods, is also joining Watermark Tempe with an opening set for early 2023. Meanwhile, three exciting retail tenants have also recently opened in 2022 in the project: Rumble, a boxing- and fitness-inspired group gym concept (2.2k sf), PokiLuv, a fast-casual restaurant serving poke and sushritto (1.8k sf), and Drybar, a salon specializing in blowouts (1.4k sf).
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