IRG Signs 1 MSF Tenant at Former GM Plant in Louisiana
A technology company will spend more than $18 million to repurpose the vacant property.
Industrial Realty Group has landed a new tenant at its Shreveport Business Park in Shreveport, La. Schlumberger, the global technology company active in the gas industry, has signed a seven-year lease and will occupy 1 million square feet across two buildings at the 3.5 million-square-foot campus. The space will house a high-tech manufacturing plant.
The property is a former General Motors plant that opened in 1981 and became vacant in 2012. Located at 7600 Antoine Blvd., the industrial campus is 15 miles from downtown Shreveport and has access to Interstate 20.
Schlumberger is making an $18.5 million investment at the location. The firm initiated the buildings’ renovation, which is slated for completion in early 2024; the plant’s production is expected to reach full capacity by the end of 2026. The State of Louisiana offered SLB an incentives package that includes workforce development solutions of LED FastStart and a $4.5 million grant for building and infrastructure purposes.
IRG has leased some 1.6 million square feet in Shreveport since the beginning of 2023, as thyssenkrupp Supply Chain Services committed to 600,000 square feet at the campus in April. The property’s roster also includes Hyundai Glovis, a tenant at the location since 2017, and Pratt Papers.
IRG deals in 2023
Also in April, IRG added a tenant at a suburban Detroit industrial facility. The Paslin Group signed a 113,742-square-foot lease at Pontiac Centerpoint Campus West in Pontiac, Mich.
IRG’s Louisiana presence also involves an industrial project taking shape in New Orleans. In early spring, the company broke ground on Propel Park, a 50-acre industrial-and-office project within NASA’s Michoud Assembly Facility campus.
In one of the company’s more recent deals, IRG expanded its Ohio portfolio with the acquisition of a 662,000-square-foot manufacturing property in West Carrollton. Appvion sold the asset.