Berkeley Investments Inc. has acquired a 47,000-square-foot office building in Boston’s South End neighborhood for $8.8 million.

The four-story property at 801 Albany St. most recently served as office, laboratory and classroom space for Boston University’s School of Dental Medicine. The building is adjacent to the Boston Medical Center and Boston University School of Medicine.

"The purchase of 801 Albany presents Berkeley with exciting opportunities – both present and future," Young Park, president of Berkeley Investments, said in a statement. "The building is ideally situated in the heart of the Boston Medical Center area, and the location will benefit from synergies within the medical community and the continuing growth and emergence of the region as one of Boston’s premier centers for health care, research and innovation."

Berkeley Investment plans to make immediate capital improvements to the property, including renovations to the building entry, lobby and elevator.

The Albany Street building is available for lease as a single or multi-tenant property. Berkeley will target re-leasing efforts to medical office users as well as tech users who are looking for a home offering innovative brick-and-beam space, according to a press release.

Tim Long with REMAX Realty Plus represented the seller, Community Development Corp. of Boston Inc., in the transaction. Berkeley Management Inc. will serve as property manager.