The Chet Holifield Federal Building, better known as the Ziggurat for its pyramid-like silhouette, has been purchased by an affiliate of Hoag Memorial Hospital Presbyterian in what officials from the General Services Administration are calling one of the largest redevelopment site sales in Orange County history and is one of the largest in Southern California in the past decade.
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“The sale of the former Chet Holifield Federal Building generated over $207 million in revenue and saved American taxpayers more than $340 million in long-term repair and upgrade costs,” GSA Administrator Edward C. Forst said in an announcement of the sale Tuesday, June 30. The sale marks a significant milestone in GSA’s effort to eliminate underutilized federal buildings, reduce long-term liabilities, and transition aging assets into productive private-sector use, federal officials said.
“We appreciate the work that went into this process and are honored to be the steward of the (Holifield) property going forward,” Robert Braithwaite, CEO of Hoad, said in a statement. “We are committed to a thoughtful, long-term approach which will enable Hoag to better serve the residents and businesses of south Orange County.”
The 1-million-square-foot building comes with 89 acres in Laguna Niguel. When constructed in 1971, the building was the only property in the area. By 2020, the population had swelled to 65,000 and William Perreira’s towering, stepped pyramid had become an iconic landmark in Southern California. While the new owner will have flexibility in the redevelopment of the building, the GSA crafted an agreement as part of the sale to ensure that William Perreira’s legacy would be honored, Tuesday’s announcement said.
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The sale is not the first time that Hoag has shown interest in the property. Bidding in a 2024 auction of the building exceeded $170 million, with Hoag among the bidders, but a final sale fell through.
A 2023 auction drew no bidders because of a requirement, which was subsequently dropped, that the building be preserved. The government then switched to an outright sale of the property that opened earlier this year. CBRE handled the marketing for the sale.
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