The Watermark | Tempe Signs Three Retail Tenants

PHOENIX, ARIZ.  –  Cushman & Wakefield and Fenix Development, a Los Angeles-based real estate investment and development company, announced today that three retail tenants will join The Watermark | Tempe’s Phase I. The three tenants include Obon Sushi + Bar + Ramen, V’s Barbershop, and Dip Nail Bar.

Cushman & Wakefield’s Brent Mallonee is exclusively marketing the retail and restaurant space. He says, “The Watermark | Tempe is an exciting evolution in mixed-use development for Arizona. It combines an unbeatable location with best-in-class design, finishes and thoughtful integration of multiple uses allowing for retail, restaurant and services to be highly successful. We’re thrilled to announce these first retail tenants and look forward to finalizing our pending transactions to bring more top tier operators to The Watermark | Tempe.”

Originally launched in Tucson in 2015 under Fukushu Restaurant Concepts, this will be Obon’s third location in the Valley. The contemporary Japanese restaurant will occupy 5,000 square feet with a patio along the boardwalk, facing Tempe Town Lake.

“We know that Obon is a concept that has become a local favorite in every spot where it’s opened—so we thought where better to launch than in Tempe? It’s the right idea at the right time, and now, with The Watermark | Tempe location, the right place,” says Obon Sushi + Bar + Ramen founder, Brandon Katz. “The development’s vision aligns well with our brand and we’re thrilled to announce that we’ll be joining The Watermark | Tempe.”

Phoenix-based V’s Barbershop opened its doors in 1999, specializing in haircuts, hot lather shaves and shoeshines. V’s has grown to 38 locations in 11 states, including 14 in Arizona. This will be V’s fifteenth shop and will occupy 1,237 square feet with six onsite barbers, one shoe shine attendant and three managers. All locations combine a mix of modern amenities with classic style, including antique Koken barber chairs from the 1950’s, multiple flat-screen TV’s, iconic sports imagery, and barbers in classic uniform. V’s full-service offerings include high quality haircuts, straight-razor shaves, men’s facials, face massages, moustache and beard trims, and shoe shines.

Dip Nail Bar will occupy 2,588 square feet and employ 25 nail and spa technicians. Since 2000, owners Michelle Duong and Phong Vu have owned and operated more than 50 nail and day spas across Baltimore, MD and Metro Phoenix. Dip Nail Bar is their newest concept featuring upscale spa services that include nail care, waxing, facials, and other skin care treatments. “Dip Nail Bar is extremely excited to be opening at The Watermark | Tempe. Our boutique offers the highest quality of nail care by providing its clients with a friendly and professional staff, pristine and luxurious environment, and organic services. Watermark Tempe’s central location and ease of access to Scottsdale Road and the 202 interchange will allow us to draw customers from all over Metro Phoenix. We look forward to our future success at The Watermark | Tempe,” said owner Phong Vu.

“Fenix Development is thrilled to announce our tenancies with Obon Sushi + Bar + Ramen, V’s Barbershop, and Dip Nail Bar. These new retailers are local favorites and are the top operators in their respective categories. We look forward to the success at The Watermark | Tempe, and additional exciting lease announcements,” said Fenix Development’s Mike Loretz.

Phase I will be delivered in September 2019, and will include 265,000 square feet of premium Class A office and 44,000 square feet of high-end restaurant and retail space centered around a family friendly splash-pad, which will connect to the boardwalk and Tempe Town Lake. The 16-story office building will feature eight levels of premium office space above an eight-level podium-style parking structure. A ninth-floor Sky Lobby, elevated 90 feet above grade level, will be outfitted with a Sky Terrace, Sky Balcony and high-end tenant amenities. With floor-to-ceiling wrap around glass, all floors will boast unobstructed views of Tempe Town Lake, Marina Heights and surrounding mountains.
Phase I will also include 360 luxury apartment units by Trinsic Residential.
Future phases of Watermark will include an additional 340,000 square feet of Class A office space, 20,000 square feet of retail and restaurant space, and a 250-room hotel.

“When designing The Watermark | Tempe we garnered our inspiration from innovative mixed-use developments across the country. We found that the most successful mixed-use projects place a heavy emphasis on the food, beverage and services components to enhance the retail experience by bringing people together to create a sense of community within the development. These environments are created by curating a mix of best-in-class operators from the trade area. The Watermark | Tempe aims to make its mark alongside other elite mixed-use projects by emulating this proven formula, and by taking advantage of its unique location on the north side of Tempe Town Lake, proximity and visibility from the 202 Freeway, and ease of access,” added Loretz.

About Fenix Development
Fenix Development is a vertically integrated real-estate development company specializing in mixed-use projects in Southern California, Nevada, and Arizona. Its executive group has over 100 years of combined experience in real estate investment, development, and management. Fenix Development manages the development and investment process from acquisition, planning, and entitlement to construction and disposition. The company’s core investment strategy is centered around creating a vision for specific investment opportunities with potential for significant capital appreciation through land entitlement, development, repositioning and creative design. To learn more, visit

About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value by putting ideas into action for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit or follow @CushWake on Twitter.

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