For Sale: Ronald Reagan Building - NBC Southern California

For Sale: Ronald Reagan Building

Two dozen state office buildings are getting for-sale signs.

    Winter Olympics PyeongChang 2018 Medal Count
    Country
    Total
    1
    Norway
    99826
    2
    Germany
    95418
    3
    Canada
    55616
    processing...

    NEWSLETTERS

    9 Team USA Athletes to Watch in PyeongChang
    buildings.dgs.ca.gov
    For sale: Ronald Reagan State Building

    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.