The distinctive, pyramid-esque Chet Holifield Federal Building in Laguna Niguel, nicknamed the Ziggurat, has been on the auction block for the last month, but failed to draw a single bid by Wednesday’s 9 a.m. deadline, April 12.
U.S. General Services Administration officials will now try to determine why the building, which the federal government has decided is surplus property, didn’t sell and what is the next steps, a spokesman said, adding that the starting bid of $70 million was suggested because “that was what the market dictated.”
The building near Alicia Parkway has been a landmark in South Orange County for half a century. It was designed by William Pereira, who is known for the Transamerica Pyramid in San Francisco and the Los Angeles International Airport.
For decades, the building – named in 1978 after the longtime congressman from California – housed thousands of federal employees from up to 12 agencies, including about 2,000 from the U.S. Citizenship and Immigration Services. For the past several years, it has only been about half full.
The Ziggurat building was among a dozen buildings identified in 2021 by federal officials for sale under the Federal Asset Sale and Transfer Act. Under the FASTA legislation, proceeds from property sales will be used to consolidate further and sell off excess federal properties, officials said.
Another federal building on about 17 acres in Silicon Valley’s Menlo Park with a suggested price tag of $120 million also went without any bids.
The Ziggurat is near several strip shopping malls as well as the Aliso & Wood Canyons Wilderness Park.
With the property’s size and location, it was advertised by the GSA as offering “a unique development opportunity as one of the largest land parcels available in the market within highly desired South Orange County” and officials highlighted its “Unparalleled flexibility and growth potential with a unique location, size, view amenities, and…
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