In another strange turn tied to the sale of the iconic Ziggurat building, the U.S. General Services Administration canceled the high-profile online auction of the 92-acre property on Wednesday, stating it plans to hold another auction this month.
“Today, the U.S. General Services Administration announced the cancellation of the recent online auction of the Laguna Ridge property in Laguna Niguel, California,” the agency said in a statement. “Registered bidders have been notified that the property will not be sold under the previously issued solicitation. GSA intends to relist the property for sale and expects to issue a new solicitation in late May.”
The stunning move comes less than two months after the GSA terminated a prior deal with Hilco Development Services and its investment partner, Jeff Pintar of Pintar Investment Co., who were previously declared the winning bidders. The agency instead awarded the property to Hoag Memorial Hospital Presbyterian last month following a legal challenge filed by the hospital.
Hoag could not be reached for immediate comment.
Read the May 12 print edition for more details.
