LevRose Commercial Real Estate, a leading Arizona-based commercial real estate brokerage and management company, facilitated the sale of the Arizona School of Real Estate & Business building in Scottsdale for $7.7 million last week.

Located at 7142 E. 1st Street in downtown Scottsdale, the 17,711 square-foot building is situated on 51,350 square feet of land and includes a two story parking structure with 121 parking spaces. The sale also included an adjacent parking lot on 40,623 square feet of land. Constructed in 1998, the building is 100 percent occupied by the Arizona School of Real Estate & Business

Phoenix-based Arc Construction and Canada-based MacDonald Development purchased the property from Bill Gray, the school’s original founder. Jon Rosenberg and Keri Davies of LevRose Commercial Real Estate represented the seller in the deal.

“We were very excited to handle the sale of this iconic building and to work with one of the most respected people in Arizona real estate,” said Rosenberg, president of LevRose Commercial Real Estate. “Due to the incredible location and on-site and nearby amenities, this was one of those rare properties that was hard to duplicate.”

With an expertise in both office and retail tenant and landlord representation, sales transactions and property management, LevRose Commercial Real Estate has been serving the Valley since 1992. Locally owned LevRose is affiliated with TCN Worldwide, a consortium of independent commercial real estate firms providing complete real estate solutions locally, nationally and internationally.