WeWork signs lease with Watermark

Real Estate | 8 Feb |

The Watermark | Tempe has landed WeWork as its first office tenant.

WeWork is an American company that provides shared workspaces for technology startup subculture communities, and services for entrepreneurs, freelancers, startups, small businesses and large enterprises.

“WeWork is the premier global operator in the co-working space,’ Fenix Development’s David Norouzi said. “We are thrilled to have them join our other top echelon tenants at the Watermark . WeWork will undoubtedly be a valuable asset to future tenants of Watermark, as they provide our other tenants the ability to grow and expand as their workforce needs shift.”

The Watermark Tempe is a 16-story Class A mixed use development on the north shore of Tempe Town Lake. WeWork has leased two floors in the property.

“We are excited to have now concluded our first office lease deal at The Watermark | Tempe with WeWork,” Norouzi said. “We believe that our site’s boutique mixed-use nature, unique lakeside location, and unparalleled amenities makes The Watermark ideal for WeWork’s members, which in turn will add to the vibrancy of the development.” 

Phase I of Watermark is expected to 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.

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