GSA Announces Auction Details for Sale of Laguna Ridge property in Orange County
89+ acre property now available in Laguna Niguel
SAN FRANCISCO -- The U.S. General Services Administration (GSA) announced public auction details for the sale of the approximately 89-acre federal property in Laguna Niguel, Calif.
The site will be sold via an online auction that will start at 9 a.m. PST Tuesday, March 7, at RealEstateSales.gov. Each bidder is required to submit a bid registration of $300,000 and the minimum starting bid is $70,000,000 (USD).
The property will be available for inspection for registered bidders who have paid the registration deposit of $300,000 by appointment for scheduled tours in February and March 2023. Additional information about the property and the auction can be found online at gsa.gov/LagunaRidge.
“The sale of Laguna Ridge is one example of GSA’s commitment to right-sizing the federal real estate portfolio,” said Dan Brown, Acting Regional Administrator for GSA’s Pacific Rim Region. “The sale of this large parcel of land in Laguna Niguel creates an economic development opportunity in Orange County while generating proceeds for the U.S. taxpayer.”
GSA encourages developers, investors, and other potential buyers to consider this opportunity. The Laguna Ridge property, also known as the Chet Holifield Federal Building, is located in Laguna Niguel, approximately 4 miles from the Pacific coastline. The 7-story building (1.05M+ gross square feet) is currently used as a federal office building. This prime property is surrounded by a mix of retail, small office, and residential land uses, and is highly accessible from local road and highway networks, transportation facilities and regional employment centers.
This property was identified as one of the properties for the high-value round under the Federal Asset Sale and Transfer Act (FASTA - PL 114-287). Under the FASTA legislation, proceeds from property sales in the high-value round will be used to fund further potential sales of unneeded federal property and consolidation actions to save taxpayer funds.
About GSA: GSA provides centralized procurement and shared services for the federal government, managing a nationwide real estate portfolio of nearly 370 million rentable square feet, overseeing approximately $75 billion in annual contracts, and delivering technology services that serve millions of people across dozens of federal agencies. GSA’s mission is to deliver the best customer experience and value in real estate, acquisition, and technology services to the government and the American people. For more information, visit GSA.gov and follow us at @USGSA.