The Galleria, a Downtown Scottsdale office complex, is now able to accommodate tenants with requirements greater than 50,000 square feet.
Formerly home to the Le Cordon Bleu College of Culinary Arts, the newly available office space has been reimagined into a high-end, 52,000 square foot facility, offering relief to an office market that is currently the tightest in the Phoenix metro area. The availability of space at the office complex marks the first time in over eight years that Downtown Scottsdale has had an available contiguous block of space larger than 50,000 square feet.
For office users looking to break into the Downtown Scottsdale office market, another large block of the complex’s space – nearly 100,000 square feet – will be available by November 2017. McKesson, one of the Galleria’s largest tenants, has recently announced plans for a new suburban build-to-suit project in order to accommodate the company’s major growth plans.
“McKesson and Le Cordon Bleu were two of the first tenants to locate to the project in the early 2000’s well before the transformation of the surrounding area,” Dan Michaels, managing director at Stockdale Capital Partners, which owns the Galleria, said. “Downtown Scottsdale has become a hot bed for companies looking to attract the most talented millennial workforce and Galleria is right in the center of it all.”
Restaurants, bars, and multi-family units added over the last few years, as well as Downtown Scottsdale’s proximity to ASU, has contributed to the area becoming a hotbed for the highly sought after workforce.
“We’ve been anticipating this day for quite awhile, and we’re excited about the opportunity this new availability brings,” Dan Michaels continued. “We have seen a lot of users over the last couple of years want to locate in the project and we have been unable to accommodate them until now. We continue to drive our modernization initiatives and remain focused on targeting those growing organizations who enjoy high employee retention rates given all the amenities Galleria’s location offers.”