LONG BEACH, CA-One of the country’s largest healthcare providers has purchased the 461,263-square-foot Arco Center building in the downtown area of this harbor city in south Los Angeles County for $81 million. Molina Healthcare, which is headquartered nearby, is the largest tenant in the building.

Although the buyer did not return calls for further information by press time, people close to the transaction say the company wanted to control its occupancy costs while providing flexibility for future expansion.

“It’s like a user buying the building, rather than an investor,” says Ken Perry, chief investment officer for the Swig Co., the San Francisco-based seller. “They’ve been a tenant of ours for a number of years, and they are a quickly expanding company,” he adds. “They’re using the purchase to control their cost structure and provide expansion opportunities going forward. “