San Clemente-based Argus Realty Investors has paid $153 million for a trophy East Coast building with a marquee tenant: Wachovia Corp.
Argus, a five-year-old company led by Chief Executive Richard Gee, bought the 29-story Wachovia Capitol Center building in Raleigh, N.C.
DRA Advisors sold the building.
The sale sets a record for the Raleigh area, according to The News & Observer newspaper.
Argus paid $278 per square foot for the 550,979-square-foot Wachovia tower. The building is the largest in Raleigh and is 90% full with Wachovia and other tenants.
Wachovia’s headquarters is in Charlotte, N.C.
