SLB Expands Long-Term Lease at Shreveport's 3.5 Million Sq. Ft. Former GM Facility, Now Fully Leased

Industrial Realty Group, LLC (IRG) announced June 30, 2026, that SLB (NYSE: SLB), a global energy technology company, has further expanded its long-term lease at a 3.5 million square-foot former General Motors facility in Shreveport, Louisiana. The expansion brings the complex to full occupancy under IRG's ownership.

A Former Auto Plant, Fully Absorbed

The Shreveport property was originally built as a General Motors manufacturing facility — the kind of large-footprint site that can sit partially idle for years after an anchor manufacturer exits. IRG, which describes itself as one of the nation's largest industrial real estate developers and owners, took on the complex as part of its approach to repositioning underutilized industrial assets. With SLB's latest lease expansion, the entire 3.5 million square feet are now committed under a single long-term tenant agreement.

Full occupancy is the number that matters here. At this scale, having one global energy technology company absorb the complete footprint — rather than splitting it among several smaller tenants — signals a substantive, durable operational commitment to the Shreveport location.

SLB's Expanding Presence on the Site

The announcement describes this as a further expansion of SLB's operations, which means the company was already occupying a portion of the former GM facility before this lease enlargement was reached. The deal represents a deepening of an existing relationship between IRG and SLB, not a new one.

The source does not specify what activities SLB conducts at the Shreveport site, what employment the facility supports, or the financial terms of the agreement. What is established is the lease's long-term character — a commitment structure distinct from short-cycle, flexible arrangements.

What Full Lease-Up Means for Both Parties

For IRG, achieving full occupancy converts a physically large and potentially illiquid former manufacturing asset into a stabilized property with a single creditworthy, long-term tenant. For SLB, an expanded footprint in Shreveport under a long-term agreement anchors operational capacity in Louisiana rather than leaving it contingent on near-term renewal decisions. The deal closes the loop on what IRG set out to do with the old GM site.