Cushman & Wakefield announced Cession, a Bistro-style restaurant serving “Southern-themed” foods, will be joining Watermark Tempe, a premier mixed-use development totaling 1.9 million square feet at the Scottsdale Rd & SWC Loop 202 in Tempe, Arizona.
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Cession will occupy 8,462 square feet of Watermark’s 265,000-sf office tower located at 410 North Scottsdale Road, abutting the lake’s boardwalk. The lakeside space also features expansive outdoor patios overlooking Tempe Town Lake with a one-of-a-kind rooftop experience. An opening is anticipated next February 2023.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 represented the landlord in the transaction. LeDonna Spongberg of Edge Realty Partners represented the tenant.“We are thrilled to welcome Cession as one of Watermark Tempe’s newest restaurant tenants and destinations for on-site occupants, visitors as well as greater community,” said Brent Mallonee. “This space offers numerous benefits, from its outdoor patio, built-in as well as surrounding customer base, accessibility, and other attractors.” Mallonee added, “This lease is also further momentum for best-in-class retail and restaurant activity at Watermark Tempe.”Built in 2020 and 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; 360 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.
