The U.S. General Services Administration has tapped CBRE to market the sale of the former Chet Holifield Federal Building, the massive stepped pyramid structure in Laguna Niguel better known as the “Ziggurat building.”
GSA officials said the sale is part of a broader effort to shrink the government’s real estate footprint and cut costs tied to underused office buildings.
“GSA is taking a targeted approach to reducing the bloated federal real estate portfolio,” GSA Administrator Edward C. Forst said in a news statement. “By eliminating long-term liabilities, including delinquent maintenance costs, we are saving taxpayer money, while focusing our limited resources on our core assets.”
The GSA previously auctioned William Pereira designed roughly 1-million-square-foot building at 24000 Avila Road in 2024 and received a $177 million bid from Hilco Development Services and Pinter Investment Co. That bid was cancelled, and the property’s as awarded to the next-highest bidder, Hoag Hospital, after the Newport Beach health system sued over the bidding process.
The government subsequently cancelled the sale last year and planned to restart the auction for the property.
Read more in the March 9 edition. .
