Cushman & Wakefield has arranged the sale of Capital Club, a 47,979-square-foot historic office building located in Raleigh, North Carolina. David Finger and Sara Owen of Cushman & Wakefield represented the seller, American Residential Investment Management in the transaction. Hem + Spire, LLC acquired the property.

“There’s a limited supply of these historic office properties in downtown Raleigh,” Owen said. “Buildings like Capital Club provide a unique opportunity to offer tenants in the market with truly authentic, creative-class space.”

Capital Club, a 12-story historic office building,was originally developed in 1930 by the Capital Club, an elite men’s literary and social organization founded in 1885.The buildingfeatures the best remaining art-deco architecture and finishes in downtown Raleigh.

Located at 16 W. Martin Street in Downtown Raleigh, Capital Club is anchored by HQ Raleigh and Capital Club 16 Restaurant & Bar, whichhas served downtown patrons for over 10 years. Positioned in the heart of Downtown Raleigh in the Fayetteville Street district, Capital Club benefits from extensive walkable amenities including the courthouse, state capitol, Raleigh Convention Center, Union Station and a plethora of hotels, restaurants and services.

About Cushman & Wakefield

Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.