The General Services Administration announced Wednesday it sold a massive, long-vacant federal office complex in Southern California to an affiliate of Hoag Memorial Hospital Presbyterian, marking one of the largest property sales in the Trump administration’s effort to shrink the federal real estate footprint and reduce government waste.The more than 1 million-square-foot former Chet Holifield Federal Building, better known as the “Ziggurat” for its distinctive stepped-pyramid design, sold for more than $207 million to Laguna Ridge Health Care Development, an affiliate of the Orange County nonprofit hospital system.Located on 89 acres in Laguna Niguel, the landmark building was designed by architect William Pereira and completed in 1971. It formerly housed the IRS, the Department of Homeland Security, and other federal agencies before being vacated at the end of 2024.
GSA said the sale will generate more than $207 million in revenue while sparing taxpayers an estimated $340 million in long-term repair and modernization costs. As part of the agreement, the agency said the property’s redevelopment will preserve Pereira’s architectural legacy, even as the new owner gains flexibility over future use.Chet Holifield Federal Building workspace. (GSA)
