A prominent downtown Burlington property that was most recently Mary Katharine’s, a women's clothing and gift boutique, has sold for $530,500.
Mark and Mary Smith sold the property at 102 E. Front St. to G3, a limited liability corporation, county records show.
Allen Gant III is listed as the manager of G3, according to the N.C. Secretary of State's office. He also lists G3 LLC on his LinkedIn page.
Gant is the casual market manager for Glen Raven. He could not be reached Monday.
When the building was under contract in June, the Smiths told the Times-News that the new buyer planned to develop the top floor into apartments and use the main floor for restaurant or retail.
The building stands at about 12,000 square feet. It was built in 1930 and was originally a department store.
The property had an initial listing price of $650,000.
The Burlington Downtown Corp. currently lists 19 properties that are either for sale or for rent downtown, including 220 E. Front Front St.
Redefinery & Co., a tapas bar and restaurant, is the current occupant and owner of that space. Owner Joe Coffey put the building on the market, telling the Times-News last month that he planned to sell it and move the restaurants into a larger space.
A “For Sale” sign has been removed from the building. Coffey could not be reached for comment Monday regarding the status of the building.
That building is 5,200 square feet and has a listing price of $375,000.
Reporter Bill Cresenzo can be reached at email@example.com or 336-506-3041. Follow him on Twitter at @BillCresenzoTN.