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LOS ANGELES-Anastasi Development Corp., a privately held investment group based in Redondo Beach, has purchased a 43,528-sf medical building in an unincorporated area of Los Angeles County that borders Long Beach for about $4.3 million, according to Grubb & Ellis Co.

Representing buyer and seller, Jeff Hanson of Grubb & Ellis in Newport Beach reports that Anastasi acquired Wood Medical Plaza from privately held Milan Properties of Anaheim. The medial office building is situated at 3816 Woodruff Ave. It was 100% leased at the time of the sale.

The freestanding, four-story structure was constructed in 1978 and is concrete construction with extensive reflective glass glazing and concrete colonnades around the perimeter of the building. Hanson says the new owner has the potential to add value to the property by raising rents to market when leases roll over because the rates currently are significantly below market.

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