DOWNEY, CA—PIH Health has acquired theBrookshire Medical Building for $11.3 million froman affiliate of WRA Property Management. The56,121-square-foot property has five stories and close proximity tofour major freeways.

The building has a mix of long-term tenants with staggered leaserolls, making this a strong investment opportunity for the buyer.The building is 78% occupied. “The Brookshire Medical Buildingprovides the new owner with stable income, value-addopportunities and excellent long-term appreciationpotential,” adds David Black, the VP ofinvestments at Marcus & Millichap's Long Beachoffice. Black represented PIH Health in the transaction, whileMichael Lawrence, SVP of investments in Marcus& Millichap's Newport Beach office represented the seller.GlobeSt.com was not able to get a comment before the publication ofthis story.

Located at 11411 Brookshire Ave. in Downey, CA, the propertysits on a two-acre, corner parcel of land. In addition to providinga stable income opportunities, the property has also received $2million in renovations and improvements over the last decade. Thoserenovations include elevator modernization, parking lot slurry andHVAC compressors as well as minor exterior renovations.