The U.S. General Services Administration (GSA) on Friday announced it would sell the former Chet Holifield Federal Building, commonly known as the Ziggurat, in Laguna Niguel. GSA is partnering with CBRE to sell the property.
“GSA is taking a targeted approach to reducing the bloated federal real estate portfolio,” said GSA Administrator Edward C. Forst. “By eliminating long-term liabilities, including delinquent maintenance costs, we are saving taxpayer money, while focusing our limited resources on our core assets.”
Located on 90 acres, the Ziggurat represents a rare opportunity to acquire a landmark with unparalleled potential for a transformative redevelopment in Southern California, according to GSA. Completed in 1971, the one-million-square-foot building in Orange County stands out for its architectural resemblance to a Mesopotamian ziggurat temple.
“CBRE will apply its deep market expertise and reach to marketing this unique property for sale by the GSA,” said Chris Connelly, CBRE Executive Group President of Advisory Services in the U.S. and Canada. “This is the latest step in CBRE’s many years of supporting the GSA in fulfilling its mission.”
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