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Wells Fargo Capitol Center (formerly Wachovia Capitol Center and First Union Capitol Center) is a 30-story 121.92 m high-rise skyscraper at 150 Fayetteville Street in
In 1999, DRA Advisors bought First Union Capitol Center.
After the merger of
Raleigh, North Carolina
Raleigh (; ) is the capital city of the state of North Carolina and the seat of Wake County in the United States. It is the second-most populous city in North Carolina, after Charlotte. Raleigh is the tenth-most populous city in the Southe ...
with 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
First Union Corporation was a bank holding company that provided commercial and retail banking services in eleven states in the eastern U.S. First Union also provided various other financial services, including mortgage banking, credit card, inv ...
and Wachovia
Wachovia was a diversified financial services company based in Charlotte, North Carolina. Before its acquisition by Wells Fargo and Company in 2008, Wachovia was the fourth-largest bank holding company in the United States, based on total asset ...
, Wachovia moved out of its 11-story 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
A triangle is a polygon with three edges and three vertices. It is one of the basic shapes in geometry. A triangle with vertices ''A'', ''B'', and ''C'' is denoted \triangle ABC.
In Euclidean geometry, any three points, when non- colline ...
office building. At the time, Wachovia occupied , and other major tenants included Deloitte & Touche
Deloitte Touche Tohmatsu Limited (), commonly referred to as Deloitte, is an international professional services network headquartered in London, England. Deloitte is the largest professional services network by revenue and number of profession ...
, PriceWaterhouse Coopers
PricewaterhouseCoopers is an international professional services brand of firms, operating as partnerships under the PwC brand. It is the second-largest professional services network in the world and is considered one of the Big Four accounting ...
, Merrill Lynch, and KPMG
KPMG International Limited (or simply KPMG) is a multinational professional services network, and one of the Big Four accounting organizations.
Headquartered in Amstelveen, Netherlands, although incorporated in London, England, KPMG is a net ...
, as well as the city's largest law firm Smith Anderson Blount.Jack Hagel, "Sale of Wachovia tower sets record," ''News & Observer'', 2007-02-01.
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
In property law, a concurrent estate or co-tenancy is any of various ways in which property is owned by more than one person at a time. If more than one person owns the same property, they are commonly referred to as co-owners. Legal terminolo ...
structure. As of December 4, 2015, the building had of leasable space available, with more expected in 2016. Major tenants other than Wells Fargo
Wells Fargo & Company is an American multinational financial services company with corporate headquarters in San Francisco, California; operational headquarters in Manhattan; and managerial offices throughout the United States and intern ...
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.
See also
* List of tallest buildings in RaleighReferences
External links
Skyscraper office buildings in Raleigh, North Carolina Wells Fargo buildings Office buildings completed in 1990 {{RaleighNC-struct-stub