IRG Expands Long-Term Lease with SLB in Shreveport, LA, 3.5 Million Sq. Ft. Former GM Facility Now Fully Leased
Rhea-AI Summary
SLB (NYSE:SLB) is expanding its long-term lease at IRG's Shreveport Business Park, taking its footprint to 3.1 million sq. ft. in the former GM plant. The 3.5-million-sq.-ft. campus is now fully leased, backed by SLB investments totaling $48.5 million and growing employment.
SLB currently has 820 employees on site, with about 1,200 expected after the expansion and an estimated 1,400 jobs at the park by 2027. IRG reports leasing 4.3 million sq. ft. of vacant space in 2026, highlighting significant industrial reuse and regional economic impact.
Positive
- SLB footprint at Shreveport campus expands to 3.1 million sq. ft.
- SLB investment commitments at the site total $48.5 million
- SLB employment expected to rise from 820 to about 1,200 after expansion
- Shreveport Business Park’s 3.5 million sq. ft. former GM plant fully leased
- Total employment at Shreveport Business Park projected at 1,400 by 2027
- IRG leases approximately 4.3 million sq. ft. of vacant space in 2026
Negative
- None.
News Market Reaction – SLB
In the Jun 30 session, SLB gained 0.24%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Jun 15 | AI marketplace launch | Positive | -4.4% | Launch of SLB Digital Marketplace hosting ~200 products from SLB and 30 partners. |
| Jun 09 | Edge AI collaboration | Positive | -2.2% | MoU with Qualcomm to co-develop edge AI solutions for energy operations. |
| Jun 08 | Subsea EPC contract | Positive | +3.7% | OneSubsea awarded EPC contract for bp’s Thunder Horse subsea boosting project. |
| May 28 | Digital collaboration | Positive | -2.4% | Expanded Delfi-based digital collaboration with Vår Energi for field planning. |
| May 26 | Earnings call date | Neutral | +1.2% | Announcement of July 24, 2026 Q2 results release and conference call schedule. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent SLB headlines have often seen mixed to negative next‑day moves even on generally positive operational and digital strategy news.
Key Terms
advanced manufacturing technical
adaptive reuse technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
The milestone marks the culmination of a remarkable transformation for the 3.5-million-square-foot industrial campus. Once substantially vacant, the property has evolved into a major advanced manufacturing project that is generating significant economic benefits for
"SLB's continued expansion in
SLB first announced plans to establish operations at the
Building on that success, SLB continued with various expansions, committing in late 2025 to an additional
Their latest growth brings SLB's total footprint on the campus to more than 3.1 million square feet, leasing the remaining available space at the property. SLB's current presence includes 820 employees on site, with an estimated 1,200 total employees following the completion of the expansion.
By 2027, an estimated 1,400 employees will work at Shreveport Business Park, well-surpassing the approximately 800 employees working there at the time of GM's 2012 closure. The growth underscores the continued attractiveness of the region for industrial investment and job creation.
"IRG is continuing its record of success in the transformation of underutilized industrial properties for job-creating reuse with this milestone in the redevelopment of the former GM plant. IRG and SLB are bringing tremendous new investment and economic opportunities for the community," said Elliott P. Laws, Administrative Trustee of RACER Trust, which assumed ownership following the GM closure. "RACER Trust congratulates and thanks IRG for its performance and welcomes the news that Shreveport Business Park is fully occupied and creating such positive outcomes for
RACER and its predecessor, Motors Liquidation Company, along with Louisiana Economic Development (LED) and Northern Louisiana Economic Partnership (NLEP), aggressively marketed the
"Few industrial redevelopment projects demonstrate the impact of adaptive reuse more clearly than this campus," Lichter said. "To see this massive property evolve from a largely vacant facility into a fully occupied industrial campus anchored by significant tenant investment, is exactly the kind of outcome we envisioned. This project is creating jobs and strengthening the regional economy, and we are incredibly proud to be part of it."
The project is an excellent example of IRG's leasing expertise. To date, IRG has leased approximately 4.3 million sq. ft. of vacant space in 2026.
About IRG
IRG is a nationwide real estate development and investment firm specializing in the acquisition, development, and management of commercial and industrial real estate throughout the United States. IRG, through its affiliated partnerships and limited liability companies, operates a portfolio containing over 150 properties in 31 states with over 100 million square feet of rentable space. IRG is nationally recognized as a leading force behind the adaptive reuse of commercial and industrial real estate, solving some of America's most difficult real estate challenges.
Learn more at www.industrialrealtygroup.com.
Lauren Crumrine | Vice President of Marketing | IRG | 614-562-9252 | lcrumrine@industrialrealtygroup.com
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SOURCE Industrial Realty Group, LLC