SG Blocks Executes Purchase Agreement for Approximately 114 Acres in Durant, Oklahoma - Land.Net News
SG Blocks, Inc. (NASDAQ: SGBX) (“SG Blocks” or the “Company”), a leading designer, innovator and fabricator of modular structures, announced today that the Company, on behalf of its development subsidiary, SGB Development Corp. (“SG DevCorp”), has executed a purchase agreement for a mixed-use property in Durant, Oklahoma with approximately 4,063,276 of square footage. This transaction is anticipated to close within the next sixty to ninety days. The purchase agreement contract is between the Durant Industrial Authority and SG Blocks, Inc.
The land is currently being used in an agricultural capacity. SGB Development Corp. plans to convert the land to additional factory space to meet growing demand, as well as develop the majority for approximately 300 residential units.
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