Phoenix-based Western Retail Advisors (WRA) has been selected by Fenix Development as the new retail leasing team for The Watermark, a landmark mixed-use, masterplanned development located along the banks of Tempe Town Lake and minutes from the Arizona State University main campus in Tempe, Arizona.

LOCAL NEWS: Phoenix housing market outpaces national trends again in 2025

INDUSTRY INSIGHTS: Want more news like this? Get our free newsletter here

The Watermark sits on 15 acres 410 Scottsdale Rd., on the southwest corner of Scottsdale Road and the Loop 202 freeway. 

WRA’s Bryan Babits, Charles Skaggs and Katie Weeks will serve as The Watermark’s new exclusive retail brokers, responsible for 44,000 square feet of Class A, ground floor retail and restaurant space. The retail component sits within a project that also includes a 256,000-square-foot, 100% leased Class A office building, as well as 360 multifamily residences, a host of public plazas and walkways, and a future business-class hotel.

“The Watermark is a compelling mixed-use environment, and the street-level experience is a major part of that appeal,” said Skaggs “Our focus will be on supporting The Watermark’s existing synergy and, when needed, attracting new concepts that continue to strengthen its connection to tenants and visitors.”

Some of the curated retail and dining tenants at The Watermark include the new Three Thirty Three Asian-inspired steakhouse, Drybar, ARIA Nail Bar, V’s Barbershop, F45 Training, Club Pilates, Dog Haus Biergarten, Monroe’s Hot Chicken and Crumbl Cookies. The interactive dining experience 212° Shabu Shabu will join The Watermark in December, and the Asian-inspired Wood and Water restaurant will open at the property in late 2026. 

“The Watermark honors Tempe’s legacy of connection while also embracing its evolution,” said Fenix Development President David Norouzi “Our restaurants and retailers are the heartbeat of that vision, and we are grateful for the expertise of Western Retail Advisors and their commitment to guiding and growing that experience.”

The Watermark currently has 2,408 square feet available for lease, offering visibility to more than 250,000 vehicles per day via Scottsdale Road and the Loop 202, and easy access from multiple points of ingress and egress. Retail spaces enjoy dramatic ceiling heights from almost 17 feet to over 24 feet, oversized pedestrian-friendly sidewalks and ample parking.

For retail leasing information at The Watermark, visit WRA here.