PaineWebber has leased 30,000 sf in Gainey Center II, a 146,000-sf Class A office building at 8501 N. Scottsdale Rd. The financial services company plans to use the space for a branch office.

The 10-year lease is estimated to be valued at nearly $9 million. Class A office space in Scottsdale is leasing for $28 to $32 psf.

Gainey Center II, a three-story office building. was completed by Opus West late last year. Th project is near Scottsdale Road and the Loop 101, which runs through most of Scottsdale and connects to the Valley's other major thoroughfares. Nearby amenities include the Hyatt Regency, and some of the finest restaurants in the Valley.

The Phoenix office of CB Richard Ellis, with brokers Tom Adelson, Jim Fijan, and Jerry Roberts, represented Opus in the lease negotiations, while Brad Anderson handled the negotiations for PaineWebber.