Three Thirty Three has signed a lease for the last remaining retail vacancy at Watermark Tempe, a premier mixed-use development totaling 1.9 million square feet at the Scottsdale Rd & SWC Loop 202 in Tempe, Arizona. The project was built in 2020, and its 44,000-sf retail component and 265,000-sf Class A office tower are now 100% leased.
Three Thirty Three will be occupying 11,303 square feet 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.
“Watermark Tempe offers a best-in-class retail and restaurant experience and provides occupants, guests, and the broader community with numerous outstanding and desirable benefits. We could not be more excited by the success and quality of tenancy assembled at this new premier lakeside project,” said Brent Mallonee. “We’re also pleased to welcome Three Thirty Three as one of the newest restaurants which will complement the project well.”
Haylee Nguyen of WGE Capital Group, the owner of Three Thirty Three, stated, “We have always wanted to open Three Thirty Three’s one-of-a-kind Asian-Inspired, masterful, high-end dining experience in the Valley and we are thrilled to call Watermark Tempe our home. From our highest quality Wagyu meat, roasted Peking Duck, a selection of fresh seafood, superb wood-fired appetizers, and creative omakase sushi selections; we are excited to unveil an elevated dining experience to the Valley’s foodies.”
Nguyen added, “In addition to the sophisticated menu, Three Thirty Three will be hosting top 40 entertainment daily on the rooftop lounge and the see-and-be-seen bar area, along with a fabulous weekend brunch and rooftop day parties on the weekends. Private dining rooms will be available for intimate celebrations and social gatherings of all kinds.”
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 (2,215 sf), PokiLuv, a fast-casual restaurant serving poke and sushritto (1,774 sf), and Drybar, a salon specializing in blowouts (1,421 sf).
The leasing activity and recent openings add to the fanfare at Watermark Tempe, which is also hosting this year’s The Original Taste event on April 9th. This premier food & wine tasting black-tie event has been a staple in the local community for over 35+ years and is expected to draw 700+ attendees. Run by Executive Council Charities, proceeds from the event help fund various critical youth programs.
Situated on the north bank of Tempe Town Lake, Arizona’s second-most visited public attraction, Watermark Tempe is a sustainable development comprising 44,000 sf of retail services and restaurants, 265,000 SF of class A office, 360 luxury multifamily units and a future 250-key business class hotel.
Watermark is just minutes from Arizona State University, the Mill Avenue District and Oldtown Scottsdale and 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.
