The historic Winston Mutual building in east Winston-Salem has been sold to a local group for $710,000, according to a Forsyth County Register of Deeds filing.
The buyer of the 18,760-square-foot office building at 1225 E. Fifth St. is Boulos Holdings LLC, a property management company based at 1200 National Drive.
A spokesman for Boulos said Friday the company had no immediate plans for the building other than ownership. Kamil Boulos is listed as the administrative member by the N.C. Secretary of State’s office.
The seller is Fifth Street Investments LLC. The sale was completed Wednesday.
Over the years, the building has been home to various civic and political groups, but had fallen into disrepair before Fifth Street Investments bought the property for $325,000 in September 2012 and made significant interior renovations.
The four-story Modernist building was built in 1969 for the offices of the Winston Mutual Life Insurance Co. It sits on 1.6 acres. Winston Mutual spent $750,000 to build it, the equivalent of $5.3 million in 2019 dollars.
Winston Mutual was founded in 1906 by 12 black business officials who wanted to provide insurance and home mortgage products in their community.
Besides the business that was conducted in the building, its historic significance was derived from community leaders using the site to discuss social issues and organize political campaigns.
In the mid-1980s, Winston Mutual was sold to Golden State, which put the building up for sale.
Several city of Winston-Salem offices moved into the building in 2014 to gain additional space.
The Winston-Salem Police Department’s Community Resources Unit is on the second floor.
The Community Resources Unit has six employees in the building. The unit conducts various crime prevention and community relations activities, including the organization of neighborhood watch groups, residential and business security inspections, the Citizen’s Police Academy and appearances of McGruff, the crime-fighting dog.
The city’s Public Works field operations management division headquarters also is in the building.