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The State Building Sell-Off

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Crappy real estate market or not, it seems the state of California is in even more dire straits. So follows a plan to sell off a number of state office buildings — 24 across 11 sites — and then lease them back. According to the general services director, California would be "freeing up hundreds of millions of dollars to help the citizens of California by retiring billions of debt." San Francisco buildings that are being sloughed off include the big rounded Public Utilities Commission building at 505 Van Ness, and two more at 350 McAllister and 455 Golden Gate. [LAT]