Industrial Realty Group Expands SLB Lease to 3.1 Million Square Feet, Fully Leasing Former GM Plant in Shreveport

SHREVEPORT, LA — June 30, 2026 — Industrial Realty Group (IRG) has expanded its long-term lease agreement with SLB (NYSE: SLB), a global energy technology company, bringing SLB's total footprint at Shreveport Business Park to more than 3.1 million square feet. The expansion completes the full lease-up of the 3.5 million-square-foot former General Motors assembly plant at 7600 Antoine Blvd, which is now occupied by three tenants: SLB, Hyundai Glovis, and the United States Postal Service.

From Vacant Plant to Fully Leased Campus

The Shreveport Business Park campus sat largely vacant after General Motors ceased operations there in 2012, leaving approximately 800 employees without work. Following GM's closure, ownership of the property transferred to RACER Trust, the successor entity to Motors Liquidation Company, which was chartered to reposition and dispose of former GM properties.

RACER Trust, working alongside Louisiana Economic Development (LED) and the Northern Louisiana Economic Partnership (NLEP), marketed the site globally and vetted more than 50 prospects before completing a series of transactions that resulted in the sale of the plant to the Caddo Parish Industrial Development Board, subject to a lease of the entire facility to IRG. IRG subsequently purchased the property outright and has since led its repositioning and lease-up with support from LED, NLEP, Caddo Parish, and the City of Shreveport.

"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," said Elliott P. Laws, Administrative Trustee of RACER Trust. "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 Shreveport and Caddo Parish."

SLB's Expansion Timeline and Investment

SLB first established a presence at the Shreveport campus in 2023, leasing more than 1 million square feet for advanced manufacturing operations in a project representing an $18.5 million investment. The company continued to expand its footprint over subsequent years, committing to an additional $30 million investment in late 2025, by which point its presence had grown to 2.1 million square feet of climate-controlled advanced manufacturing space.

The latest expansion brings SLB's total leased area to more than 3.1 million square feet, absorbing the balance of the remaining available space at the property. SLB currently employs 820 workers on site, with that figure expected to reach approximately 1,200 employees upon completion of the current expansion phase. By 2027, campus-wide employment across all three tenants is projected to reach an estimated 1,400 workers — well above the roughly 800 employees on site at the time of GM's 2012 closure.

"SLB's continued expansion in Shreveport is a tremendous success story for all involved and a powerful example of what can happen when world-class companies find the right facility, workforce, and business environment," said Stuart Lichter, President of IRG. "This growth has transformed a once-underutilized property into a major economic driver for Northwest Louisiana."

Adaptive Reuse as a Core Strategy for Industrial Realty Group

The Shreveport Business Park transaction is part of a broader adaptive reuse strategy that IRG has pursued across its national portfolio. The firm operates more than 150 properties in 31 states, encompassing over 100 million square feet of rentable space, and has positioned itself as a developer focused on repositioning complex, often distressed industrial assets.

IRG reported that it has leased approximately 4.3 million square feet of vacant space in 2026 to date, with the Shreveport Business Park lease-up cited as a representative example of that activity.

"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."

Tenant Mix and Regional Economic Impact

With SLB occupying 3.1 million square feet, the campus is also leased to Hyundai Glovis and the United States Postal Service, bringing the 3.5 million-square-foot property to full occupancy. The full lease-up of the former GM plant represents a significant outcome for Northwest Louisiana, a region that had sought for more than a decade to redevelop the large-scale industrial site following its closure. Employment at the campus is on track to surpass GM-era levels, according to IRG's announcement.

Sources

Industrial Realty Group Press Release — June 30, 2026