Safe and Green Development executes contract to sell St. Mary’s site for $1.35M

Safe and Green Development announces that it has entered into an agreement to sell its St Mary’s property to Pigmental Studios for $1.35 million. The St Mary’s property consists of approximately 29 acres zoned for a manufacturing facility. After discussions with the City & Pigmental Studios, the Company decided to sell the property to accommodate Pigmental Studios’ expansion in the area. The Company remains interested in the St Mary’s region and will remain active via its investment in the Cumberland Inlet Project. David Villarreal, President & CEO of Safe and Green Development Corporation, stated, “It has been a pleasure to deal with Pigmental and I could not be happier that the St Mary’s property is in the hands of such a great company. We believed this was the opportune time to sell the property which sale strengthens our balance sheet and provides us with the flexibility to move forward on other real estate properties and various projects that we are developing and considering.”