California Mediterranean Chain to Join New Tempe Development
PHOENIX, July 8, 2019 – Cushman & Wakefield and Fenix Development, a Los Angeles-based real estate investment and development company, announced today that Panini Kabob Grill will join Watermark Tempe’s Phase I. Panini Kabob Grill will join Obon + Sushi + Ramen, V’s Babershop and Dip Nail Bar who signed leases at Watermark Tempe late last year.
Cushman & Wakefield’s Brent Mallonee is exclusively marketing the retail and restaurant space. He says, “We’re thrilled to welcome Panini Kabob Grill to Arizona and that they chose Watermark Tempe as their debut location. They are a fantastic concept that further enhances Watermark Tempe’s premium mix of tenants.”
California-based Panini Kabob Grill (formerly Panini Café), serving healthier Mediterranean food, will occupy 3,195 square feet (sf). Established in 1997, with approximately 15 locations throughout California, this will be the first in Arizona. Panini Kabob Grill features fresh food/ingredients delivered daily and the finest quality ingredients, including organic eggs, imported olive oil and cheese from Europe, grass-fed and hormone free meats, an and fresh baked bread from La Brea Bakery.
Phase I will be delivered in September 2019, and will include 265,000 sf of premium Class A office and 44,000 sf 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 sf of Class A office space, 20,000 sf of retail and restaurant space, and a 250-room hotel.
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 www.fenixdevelopmentinc.com.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.