IRG Celebrates 1 Million Sq. Ft. Lease with Schlumberger at Shreveport Facility

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Jul 17, 2023, 10:48 ET

$18.5 million investment by SLB is expected to result in more than 1,300 new jobs

SHREVEPORT, La., July 17, 2023 Industrial Realty Group, LLC (IRG), one of the largest industrial real estate developers in the nation, announced that a wholly owned subsidiary of Schlumberger Limited, will join IRG's 3.5 million square foot campus in Shreveport.

Stuart Lichter, President of IRG and his team celebrate the announcement alongside Louisiana Governor John Bel Edwards, and representatives from Schlumberger and NLEP.

The company's $18.5 million investment is expected to create 596 new direct jobs with an annual payroll of more than $50 million over the next three years. Louisiana Economic Development estimates the project will result in an additional 749 new indirect jobs, for a total of 1,345 new jobs in the Northwest Region of Louisiana.

"Since the beginning of 2023, IRG has leased over 1.5 million square feet in Shreveport," said Stuart Lichter, president of IRG. "This success is the result of IRG's long-term commitment to Shreveport— creating economic growth, reviving a massive industrial campus, and expanding job opportunities."

Schlumberger will utilize the site for advanced, high-tech manufacturing. The company will take portions of two buildings on the campus, totaling over 1 million square feet space per a long-term lease agreement with IRG.

The company will join tenants Hyundai Glovis, Pratt Paper, and Thyssenkrupp Supply Chain Services at the property.

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.

For more information, contact:
Lauren Crumrine, Director of Marketing
Industrial Realty Group, LLC
614-562-9252
[email protected]

SOURCE Industrial Realty Group, LLC