The federal government is offering investors a chance to purchase the historic U.S. Courthouse in Los Angeles as part of a broader strategy to downsize federal real estate holdings. This sale is part of an initiative by the General Services Administration to decrease the federal property portfolio and thus lessen the financial burden on taxpayers. Built in the 1930s, the courthouse has been vacated since a newer building opened nearby in 2016. The commercial property market in downtown L.A. is currently weak, further complicating the sale prospects for this landmark asset.
The federal government is offering real estate investors an unusual opportunity - the chance to buy a historic courthouse and office building in the heart of downtown Los Angeles.
The GSA is focused on rightsizing the federal real estate portfolio to reduce the burden on the American taxpayer.
In 2016, a replacement U.S. courthouse opened nearby on First Street, replacing the older Spring Street building.
Many office towers lost tenants earlier in the pandemic and have yet to recover, affecting commercial property sales downtown.
Collection
[
|
...
]