Wachovia Capitol Center

Wells Fargo Capitol Center (formerly Wachovia Capitol Center and First Union Capitol Center) is a 30-story 121.92 m skyscraper at 150 Fayetteville Street in Raleigh, North Carolina with 544,482 square feet (50,584.0 m²) of space. Completed in 1990, it was one of the downtown Raleigh's two tallest buildings for nearly twenty years, and is currently third tallest.

History

In 1999, DRA Advisors bought First Union Capitol Center. After the merger of First Union and Wachovia, Wachovia moved out of its 11-story 110,000 square feet (10,000 m²) building built in 1961.

On January 31, 2007, Argus Realty Investors LP of San Clemente, California paid $153.4 million for Wachovia Capitol Center and its parking deck, plus retail space across the street. The amount was the most ever paid for a Triangle office building. At the time, Wachovia occupied 105,788 square feet (9,828.0 m²), and other major tenants included Deloitte & Touche, PriceWaterhouse Coopers, Merrill Lynch, and KPMG, as well as the city's largest law firm Smith Anderson Blount.

As a result of six transactions, HighBrook Investors paid $42.74 million for 31.57 percent of Wells Fargo Capitol Center, whose ownership is a tenants in common structure. As of December 4, 2015, the building had 192,181 square feet (17,854.2 m²) of leasable space available, with 20,451 square feet (1,900.0 m²) more expected in 2016. Major tenants other than Wells Fargo included Brooks Pierce, Smith Anderson, BHDP Architecture and RM Source. Parker Poe had already left and Womble Carlyle Sandridge & Rice planned to move in 2016.

Text imported from Wikipedia article "Wells Fargo Capitol Center" and modified on July 23, 2019 according to the CC-BY-SA 4.0 International license.