On Thursday William Gray sold the 17,000 square foot two-story office building that houses the Arizona School of Real Estate and Business in Scottsdale. William Borders of Arc Construction and Canada-based MacDonald Development purchased the property for $7.7 million, or $435 per square foot. The sale was funded by a $5 million loan with Earlston Investment Corp.
William Gray had assembled the property in 1993, prior to improvements. The office building and two-story parking structure were later constructed in 1998.
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