Benzinga | Nov 11, 2021 04:16PM EST

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

* SG Blocks Inc. (NASDAQ: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.