Uh, no. The article says after the sell, CA will rent the property back. Someone is making a killing and it's not the CA taxpayers. Also, don't you think it is rather interesting that there is not mention of who the buyers might be? Same folks wanting to build a mosque on Ground Zero, hmmm? The ME understands now that crashing planes into buildings was child's play compared to outright buying America. The own our msm, they own our national landmarks, so what's next.
This is not a "bankable" lease in real estate terms.
My complaint with this, along with a lot of things govt does, is why didn’t they put out a call for bids? There are a lot of things that govt can sell, but they need to take bids, not result to crony capitalism. Recently they announced that they were working on a non-bid deal to sell Delmar race track...again..no competitive bidding.
When the Govt in Hong Kong or Singapore sells govt property they go out to bid. Why not here? The answer is the govt doesn’t want competitive bids because it cuts off sweet heart deals.