Seven companies have either leased space or expanded their operations at Gainey Center II.The three-story Scottsdale office building was acquired last summer by Phoenix-based Reliance Management — an entity led by Valley real estate investor Daryl Burton. It has seen 35,000 square feet of new occupancy since the building changed hands, said Andrew Cheney, principal at Lee & Associates Arizona and listing broker for the building. The biggest new lease to come to Gainey Center II was by Nevada-based homebuilder Tri Pointe Homes, which took 14,700 square feet.Other deals include accounting firm Hunter Hagan & Co., Legacy Wealth, Marquee Commercial, Golden Bear Insurance and Umpqua Bank. Gainey Business Bank, an existing tenant, has expanded by 1,800 square feet at the 151,522-square-foot office building located at 8501 N. Scottsdale Road.Cheney attributed the activity to Scottsdale’s strong office market, as well as improvements such as a tenant lounge and conference center and new spec suites. “Scottsdale and Camelback [submarkets] have a lot of tenants that are coming into the office at least three days a week. The active tenant sizes, for the most part, are still under 10,000 square feet,” Cheney said. “To capture the activity that’s out there, spec suites are the way to go.”Cheney, along with fellow listing brokers Craig Coppola and Gregg Kafka, are marketing up to 67,921 square feet across nine available spaces at Gainey Center II, according to a listing brochure on LoopNet. Cheney said the building was roughly 48% occupied when the building traded hands.Burton’s $26.5 million acquisition of Gainey Center II last July was tied for the fifth largest office deal by price in 2023, alongside San Diego- …
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