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Ziggurat Auction Ends; Sold for $177M

Undisclosed bidder wins 92 acre-site in Aliso Viejo

A government-sponsored auction that started in June has finally come to an end, as a yet-to-be-disclosed bidder will pay $177 million for the Chet Holifield Federal Building in Laguna Niguel.

The $177 million price tag is significantly higher than the $70 million opening bid the federal government set on June 5, when the auction started.

There were three bidders, and 157 bids submitted. Two of the bidders went back-and-forth in bidding almost every day between June 5 and Oct. 24.

The buyer must now obtain entitlements and go through possible zoning changes with the city of Laguna Niguel.

Read more about the Ziggurat/Chet Holifield Federal Building auction sale in the Nov. 4 issue of Orange County Business Journal.

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Parimal Rohit
Parimal Rohit
Parimal M. Rohit has nearly two decades of experience in journalism and recently covered Texas real estate for CoStar News and Austin Business Journal. He was also the editor of The Log, covering Southern California's and Northern Mexico's maritime and environmental spaces. Throughout his career, Rohit has also covered the Los Angeles Lakers, Los Angeles Dodgers, Bollywood and California politics. Rohit won 12 reporting awards from the San Diego Press Club, including best environmental reporting and best essay/commentary, and the Fort Worth chapter of the Society of Professional Journalists. His hobbies include photography, podcasting, travel and filmmaking. He is also the recipient of several fellowships, including one through the USC Annenberg Center for Health Journalism and another through the RK Mellon Foundation.
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