If you've been waiting to buy the Ronald Reagan State Building, now is your chance.
Cash-strapped California is putting 24 office buildings, including downtown's Reagan Building, up for sale. The state plans to sell the buildings to private investors who would then lease the space back to the state for at least 20 years, the Los Angeles Times reported:
Under the proposal, for example, the twin-towered Reagan state office building at 3rd and Spring streets would be purchased by an investor who would in turn lease it to the state. The state would pay the new owner an estimated $12.2 million a year in rent, according to the plan.
The state hopes to raise more than $2 billion as part of the plan.