SG Blocks Inks Purchase Agreement For ~114 Acres In Durant, Oklahoma

SG Blocks Inc. SGBX, on behalf of its development subsidiary, SGB Development Corp., executed a purchase agreement for a mixed-use property in Durant, Oklahoma, with 4.06 million square footage.
The financial terms of the purchase agreement contract between the Durant Industrial Authority and SG Blocks were not disclosed.
The company expects the McLean property site to yield 300 units of single-family housing and a manufacturing facility.
The company anticipates the transaction for the 114 acres in Durant to close within the next sixty to ninety days.
Price Action: SGBX shares closed lower by 1.74% at $2.83 on Thursday.